Summit Trail Advisors LLC Acquires 331 Shares of Accenture plc (NYSE:ACN)

Summit Trail Advisors LLC lifted its stake in shares of Accenture plc (NYSE:ACN) by 7.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,065 shares of the information technology services provider’s stock after buying an additional 331 shares during the quarter. Summit Trail Advisors LLC’s holdings in Accenture were worth $1,777,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Accenture by 7.0% in the third quarter. Wellington Management Group LLP now owns 11,034,666 shares of the information technology services provider’s stock worth $3,388,856,000 after purchasing an additional 720,647 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Accenture by 34.7% in the third quarter. Envestnet Asset Management Inc. now owns 2,374,492 shares of the information technology services provider’s stock valued at $729,230,000 after purchasing an additional 611,376 shares during the last quarter. Alphinity Investment Management Pty Ltd lifted its position in shares of Accenture by 71.4% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 1,388,701 shares of the information technology services provider’s stock valued at $487,309,000 after purchasing an additional 578,610 shares in the last quarter. International Assets Investment Management LLC grew its position in Accenture by 33,484.1% in the 4th quarter. International Assets Investment Management LLC now owns 567,572 shares of the information technology services provider’s stock worth $199,167,000 after purchasing an additional 565,882 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Accenture by 4.4% in the 3rd quarter. FMR LLC now owns 13,316,028 shares of the information technology services provider’s stock worth $4,089,485,000 after buying an additional 565,505 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. TD Cowen cut their price objective on Accenture from $363.00 to $350.00 and set a “market perform” rating on the stock in a research report on Friday, March 22nd. Bank of America raised their price objective on shares of Accenture from $379.00 to $419.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. StockNews.com lowered shares of Accenture from a “buy” rating to a “hold” rating in a research note on Saturday, April 27th. BMO Capital Markets reduced their price objective on Accenture from $385.00 to $375.00 and set a “market perform” rating for the company in a report on Friday, March 22nd. Finally, Susquehanna reaffirmed a “neutral” rating and set a $360.00 price target (down previously from $400.00) on shares of Accenture in a research report on Thursday, March 21st. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $387.00.

Accenture Stock Performance

NYSE:ACN traded up $2.39 during trading hours on Monday, reaching $306.10. The company’s stock had a trading volume of 2,361,326 shares, compared to its average volume of 2,501,520. The firm has a 50-day simple moving average of $342.95 and a 200-day simple moving average of $342.23. Accenture plc has a 1 year low of $261.68 and a 1 year high of $387.51. The firm has a market capitalization of $205.31 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 2.88 and a beta of 1.21.

Accenture (NYSE:ACN) last released its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.11. The company had revenue of $15.80 billion during the quarter, compared to analyst estimates of $15.85 billion. Accenture had a return on equity of 28.30% and a net margin of 10.89%. Accenture’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.69 EPS. Equities analysts anticipate that Accenture plc will post 12.09 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, April 11th will be given a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Wednesday, April 10th. Accenture’s payout ratio is 46.78%.

Insider Transactions at Accenture

In related news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total value of $1,536,100.00. Following the completion of the sale, the insider now owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the transaction, the insider now directly owns 13,699 shares in the company, valued at $4,208,606.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John F. Walsh sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $332.13, for a total value of $2,657,040.00. Following the transaction, the chief operating officer now directly owns 17,877 shares of the company’s stock, valued at approximately $5,937,488.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,083 shares of company stock worth $8,959,325. Company insiders own 0.07% 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.