Accenture plc (NYSE:ACN) Shares Sold by Mendel Money Management

Mendel Money Management reduced its position in Accenture plc (NYSE:ACN) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,572 shares of the information technology services provider’s stock after selling 552 shares during the quarter. Accenture makes up approximately 2.0% of Mendel Money Management’s portfolio, making the stock its 14th biggest position. Mendel Money Management’s holdings in Accenture were worth $4,423,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Morse Asset Management Inc acquired a new stake in Accenture during the 3rd quarter worth approximately $25,000. FPC Investment Advisory Inc. boosted its holdings in Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 28 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Accenture in the 4th quarter valued at about $30,000. POM Investment Strategies LLC increased its stake in shares of Accenture by 64.2% during the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after buying an additional 34 shares during the period. Finally, Retirement Wealth Solutions LLC acquired a new stake in Accenture in the fourth quarter valued at approximately $34,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Stifel Nicolaus dropped their target price on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. The Goldman Sachs Group upgraded 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 report on Friday, December 6th. BMO Capital Markets decreased their target price on Accenture from $425.00 to $370.00 and set a “market perform” rating for the company in a research note on Tuesday, March 18th. Royal Bank of Canada dropped their price target on shares of Accenture from $399.00 to $392.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Finally, Robert W. Baird upgraded shares of Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 target price for the company in a report on Monday, March 17th. Eight 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’s stock. According to data from MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.91.

Accenture Price Performance

Accenture stock opened at $308.97 on Wednesday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $193.35 billion, a PE ratio of 25.92, a P/E/G ratio of 3.23 and a beta of 1.24. The firm’s 50-day simple moving average is $357.53 and its 200 day simple moving average is $356.88. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.01. The firm had revenue of $16.70 billion during the quarter, compared to the consensus estimate of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.77 EPS. On average, equities research analysts predict that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 10th will be given a dividend of $1.48 per share. The ex-dividend date is Thursday, April 10th. This represents a $5.92 annualized dividend and a yield of 1.92%. Accenture’s dividend payout ratio (DPR) is presently 48.89%.

Insiders Place Their Bets

In related news, insider Angela Beatty sold 961 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $354.47, for a total transaction of $340,645.67. Following the completion of the transaction, the insider now owns 5,484 shares of the company’s stock, valued at approximately $1,943,913.48. This represents a 14.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the sale, the chief executive officer now owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This represents a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,905 shares of company stock valued at $8,181,753. Insiders own 0.02% of the company’s stock.

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.