Tritonpoint Wealth LLC Has $1.83 Million Position in Accenture plc (NYSE:ACN)

Tritonpoint Wealth LLC reduced its position in shares of Accenture plc (NYSE:ACN) by 86.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,870 shares of the information technology services provider’s stock after selling 36,354 shares during the period. Tritonpoint Wealth LLC’s holdings in Accenture were worth $1,832,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Visionary Wealth Advisors raised its holdings in Accenture by 3.5% in the 4th quarter. Visionary Wealth Advisors now owns 778 shares of the information technology services provider’s stock valued at $274,000 after acquiring an additional 26 shares in the last quarter. Vivaldi Capital Management LP increased its holdings in Accenture by 3.6% in the 4th quarter. Vivaldi Capital Management LP now owns 782 shares of the information technology services provider’s stock worth $292,000 after purchasing an additional 27 shares in the last quarter. FPC Investment Advisory Inc. increased its holdings in Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 28 shares in the last quarter. New England Professional Planning Group Inc. grew its position in shares of Accenture by 4.6% in the 4th quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock valued at $230,000 after buying an additional 29 shares during the last quarter. Finally, Nemes Rush Group LLC grew its position in shares of Accenture by 7.5% in the 4th quarter. Nemes Rush Group LLC now owns 418 shares of the information technology services provider’s stock valued at $147,000 after buying an additional 29 shares during the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Accenture

In other news, COO John F. Walsh sold 2,500 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total value of $812,500.00. Following the completion of the transaction, the chief operating officer now directly owns 15,882 shares of the company’s stock, valued at $5,161,650. This trade represents a 13.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Julie Spellman Sweet sold 2,284 shares of the firm’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $281.63, for a total value of $643,242.92. Following the completion of the transaction, the chief executive officer now directly owns 9,965 shares of the company’s stock, valued at $2,806,442.95. The trade was a 18.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,516 shares of company stock valued at $2,507,366. Company insiders own 0.02% of the company’s stock.

Accenture Stock Performance

Shares of Accenture stock opened at $311.37 on Friday. The company has a market cap of $195.02 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 3.23 and a beta of 1.33. Accenture plc has a 52 week low of $275.01 and a 52 week high of $398.35. The business has a 50 day moving average price of $305.50 and a 200-day moving average price of $335.77. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 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 prior year, the business posted $2.77 earnings per share. Equities analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 10th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Thursday, April 10th. Accenture’s payout ratio is 48.89%.

Analysts Set New Price Targets

ACN has been the topic of a number of analyst reports. Stifel Nicolaus reduced their price target on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. UBS Group restated a “buy” rating and set a $395.00 target price (up previously from $390.00) on shares of Accenture in a research report on Thursday, May 22nd. Wall Street Zen lowered Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Guggenheim cut their target price on Accenture from $400.00 to $395.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Finally, BMO Capital Markets upped their target price on Accenture to $355.00 and gave the company a “hold” rating in a research report on Wednesday, March 26th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and a consensus price target of $382.15.

Accenture Company 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.