Allen Capital Group LLC Raises Position in Accenture plc (NYSE:ACN)

Allen Capital Group LLC grew its position in Accenture plc (NYSE:ACN) by 146.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,105 shares of the information technology services provider’s stock after acquiring an additional 1,251 shares during the quarter. Allen Capital Group LLC’s holdings in Accenture were worth $741,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Morse Asset Management Inc purchased a new position in Accenture during the third quarter worth about $25,000. MidAtlantic Capital Management Inc. purchased a new stake in Accenture in the third quarter valued at approximately $30,000. Retirement Wealth Solutions LLC purchased a new position in shares of Accenture in the fourth quarter valued at approximately $34,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Accenture by 607.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 85 shares during the period. Finally, Berbice Capital Management LLC purchased a new stake in shares of Accenture during the fourth quarter worth approximately $35,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Price Performance

ACN opened at $378.36 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51. The company has a 50-day moving average of $358.27 and a 200-day moving average of $349.02. The company has a market capitalization of $236.78 billion, a P/E ratio of 31.69, a PEG ratio of 3.20 and a beta of 1.24.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping the consensus estimate of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. During the same quarter last year, the firm earned $3.27 EPS. The business’s revenue was up 9.0% on a year-over-year basis. Equities analysts expect that Accenture plc will post 12.69 EPS for the current fiscal year.

Accenture Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be issued a $1.48 dividend. The ex-dividend date is Thursday, January 16th. This represents a $5.92 dividend on an annualized basis and a yield of 1.56%. Accenture’s dividend payout ratio is currently 49.66%.

Insider Activity at Accenture

In other news, General Counsel Joel Unruch sold 4,750 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $362.78, for a total transaction of $1,723,205.00. Following the completion of the sale, the general counsel now directly owns 20,526 shares of the company’s stock, valued at $7,446,422.28. This trade represents a 18.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Angela Beatty sold 375 shares of Accenture stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the transaction, the insider now directly owns 5,149 shares in the company, valued at $1,845,916.50. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,446 shares of company stock worth $5,852,848 in the last 90 days. 0.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and increased their price objective for the company from $370.00 to $420.00 in a research report on Friday, December 6th. BMO Capital Markets increased their price objective on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. UBS Group increased their target price on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a research note on Wednesday, January 8th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Accenture presently has an average rating of “Moderate Buy” and an average price target of $383.74.

Accenture Profile

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.