Accenture plc (NYSE:ACN) Stock Position Lifted by Raelipskie Partnership

Raelipskie Partnership increased its stake in Accenture plc (NYSE:ACN) by 7.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,917 shares of the information technology services provider’s stock after purchasing an additional 288 shares during the period. Raelipskie Partnership’s holdings in Accenture were worth $1,378,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Creative Planning grew its holdings in shares of Accenture by 5.5% during the third quarter. Creative Planning now owns 247,724 shares of the information technology services provider’s stock valued at $87,566,000 after buying an additional 12,993 shares in the last quarter. Swedbank AB grew its stake in shares of Accenture by 16.6% in the 3rd quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock valued at $901,967,000 after purchasing an additional 363,401 shares during the period. Net Worth Advisory Group acquired a new position in shares of Accenture in the 3rd quarter worth approximately $630,000. Alta Wealth Advisors LLC acquired a new position in shares of Accenture in the 3rd quarter worth approximately $275,000. Finally, AA Financial Advisors LLC acquired a new position in Accenture during the 3rd quarter worth $270,000. Institutional investors own 75.14% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on ACN. BNP Paribas cut shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective for the company. in a research report on Wednesday, October 30th. UBS Group raised their price objective on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Piper Sandler lifted their price objective on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Morgan Stanley lifted their price target on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and lifted their price target for the company from $370.00 to $420.00 in a research note on Friday, December 6th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Accenture has an average rating of “Moderate Buy” and an average target price of $387.22.

Accenture Stock Down 0.4 %

ACN opened at $387.99 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The stock has a market capitalization of $242.80 billion, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. The business has a 50-day moving average of $365.29 and a two-hundred day moving average of $354.45.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The business had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.27 EPS. On average, research analysts expect 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 was paid on Friday, February 14th. Investors of record on Thursday, January 16th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Thursday, January 16th. Accenture’s dividend payout ratio is currently 49.66%.

Insider Activity at Accenture

In related news, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the transaction, the insider now owns 5,149 shares of the company’s stock, valued at $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Melissa A. Burgum sold 1,487 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total value of $527,200.98. Following the sale, the chief accounting officer now directly owns 9,247 shares of the company’s stock, valued at approximately $3,278,431.38. This represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,280 shares of company stock valued at $8,316,190. Corporate insiders own 0.02% 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.