Accenture plc (NYSE:ACN) Position Raised by Two Point Capital Management Inc.

Two Point Capital Management Inc. boosted its holdings in Accenture plc (NYSE:ACN) by 0.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,201 shares of the information technology services provider’s stock after buying an additional 93 shares during the quarter. Accenture accounts for approximately 5.3% of Two Point Capital Management Inc.’s holdings, making the stock its 7th biggest position. Two Point Capital Management Inc.’s holdings in Accenture were worth $13,108,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ACN. Norges Bank purchased a new stake in Accenture during the 4th quarter valued at $2,061,490,000. Swedbank AB bought a new stake in shares of Accenture in the first quarter worth $820,912,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Accenture by 100.0% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,751,531 shares of the information technology services provider’s stock worth $614,615,000 after purchasing an additional 875,723 shares during the last quarter. Winslow Capital Management LLC purchased a new stake in shares of Accenture during the 4th quarter valued at about $288,168,000. Finally, Generation Investment Management LLP bought a new position in shares of Accenture in the 4th quarter worth approximately $286,220,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Stock Up 0.5 %

Shares of NYSE:ACN opened at $341.95 on Monday. The firm has a fifty day simple moving average of $319.98 and a two-hundred day simple moving average of $324.93. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51. The stock has a market capitalization of $214.30 billion, a P/E ratio of 31.31, a PEG ratio of 3.81 and a beta of 1.23.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share for the quarter, missing the consensus estimate of $3.15 by ($0.02). The company had revenue of $16.47 billion for the quarter, compared to the consensus estimate of $16.55 billion. Accenture had a return on equity of 27.48% and a net margin of 10.79%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.19 earnings per share. On average, analysts expect that Accenture plc will post 11.95 earnings per share for the current year.

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, July 11th were given a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Thursday, July 11th. Accenture’s dividend payout ratio (DPR) is currently 47.25%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Susquehanna cut their target price on shares of Accenture from $360.00 to $350.00 and set a “neutral” rating for the company in a research report on Friday, June 21st. Morgan Stanley lowered Accenture from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $382.00 to $300.00 in a report on Wednesday, June 26th. Mizuho decreased their price objective on Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft cut Accenture from a “buy” rating to a “hold” rating and lowered their price objective for the company from $409.00 to $295.00 in a research report on Wednesday, May 15th. Finally, Wedbush decreased their target price on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 12th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Accenture presently has an average rating of “Moderate Buy” and a consensus price target of $352.33.

Insiders Place Their Bets

In related news, CFO Kathleen R. Mcclure sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $315.00, for a total transaction of $472,500.00. Following the completion of the sale, the chief financial officer now directly owns 38,570 shares of the company’s stock, valued at approximately $12,149,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Kathleen R. Mcclure sold 1,500 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $315.00, for a total value of $472,500.00. Following the transaction, the chief financial officer now owns 38,570 shares of the company’s stock, valued at approximately $12,149,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Julie Spellman Sweet sold 3,776 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the completion of the sale, the chief executive officer now directly owns 11,819 shares of the company’s stock, valued at $3,652,661.95. The disclosure for this sale can be found here. Insiders sold a total of 21,421 shares of company stock valued at $6,912,635 over the last 90 days. Insiders own 0.07% of the company’s stock.

About Accenture

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.