Bancreek Capital Management LP trimmed its position in Accenture plc (NYSE:ACN - Free Report) by 31.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,975 shares of the information technology services provider's stock after selling 6,554 shares during the period. Accenture accounts for about 4.8% of Bancreek Capital Management LP's investment portfolio, making the stock its 14th biggest holding. Bancreek Capital Management LP's holdings in Accenture were worth $4,916,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new position in Accenture in the fourth quarter worth $37,000. Adams Diversified Equity Fund Inc. lifted its position in shares of Accenture by 202.5% in the 4th quarter. Adams Diversified Equity Fund Inc. now owns 81,119 shares of the information technology services provider's stock worth $28,537,000 after buying an additional 54,300 shares during the last quarter. TD Private Client Wealth LLC grew its position in shares of Accenture by 1.9% during the 4th quarter. TD Private Client Wealth LLC now owns 15,903 shares of the information technology services provider's stock valued at $5,595,000 after buying an additional 294 shares during the last quarter. Truepoint Inc. raised its stake in Accenture by 30.6% during the fourth quarter. Truepoint Inc. now owns 4,424 shares of the information technology services provider's stock worth $1,556,000 after acquiring an additional 1,036 shares during the period. Finally, Kiker Wealth Management LLC acquired a new position in Accenture in the fourth quarter valued at approximately $797,000. 75.14% of the stock is owned by institutional investors.
Insider Buying and Selling
In other news, CEO Julie Spellman Sweet sold 8,793 shares of Accenture stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the transaction, the chief executive officer now owns 11,858 shares of the company's stock, valued at $4,677,625.26. This trade represents a 42.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Angela Beatty sold 961 shares of the business's stock in a transaction on Friday, January 17th. The stock was sold at an average price of $354.47, for a total transaction of $340,645.67. Following the transaction, the insider now directly owns 5,484 shares of the company's stock, valued at approximately $1,943,913.48. This represents a 14.91 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,905 shares of company stock worth $8,181,753. Insiders own 0.02% of the company's stock.
Accenture Stock Up 0.8 %
Shares of ACN stock traded up $2.48 on Wednesday, reaching $311.38. 3,669,622 shares of the company's stock traded hands, compared to its average volume of 2,768,137. The company has a market capitalization of $194.86 billion, a P/E ratio of 26.12, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The business's 50 day moving average price is $357.53 and its two-hundred day moving average price is $356.88.
Accenture (NYSE:ACN - Get Free Report) last issued its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.81 by $0.01. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company had revenue of $16.70 billion during the quarter, compared to analyst estimates of $16.64 billion. During the same quarter last year, the business posted $2.77 EPS. The company's revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.
Accenture Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 10th will be paid a $1.48 dividend. The ex-dividend date is Thursday, April 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.90%. Accenture's payout ratio is 48.89%.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on ACN shares. Morgan Stanley dropped their target price on Accenture from $380.00 to $372.00 and set an "equal weight" rating on the stock in a research report on Monday, March 17th. Barclays reduced their target price on shares of Accenture from $415.00 to $390.00 and set an "overweight" rating for the company in a research note on Monday. JPMorgan Chase & Co. increased their price objective on Accenture from $370.00 to $396.00 and gave the stock an "overweight" rating in a report on Monday, December 16th. Baird R W upgraded Accenture from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Mizuho reduced their price objective on shares of Accenture from $428.00 to $398.00 and set an "outperform" rating for the company in a report on Wednesday, March 19th. Eight equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Accenture currently has an average rating of "Moderate Buy" and an average target price of $378.23.
Get Our Latest Report on ACN
About Accenture
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Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.
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