Peachtree Investment Partners LLC Has $4.12 Million Stock Position in Accenture plc (NYSE:ACN)

Peachtree Investment Partners LLC decreased its position in Accenture plc (NYSE:ACN) by 2.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 11,699 shares of the information technology services provider’s stock after selling 273 shares during the quarter. Accenture accounts for approximately 1.5% of Peachtree Investment Partners LLC’s holdings, making the stock its 15th biggest holding. Peachtree Investment Partners LLC’s holdings in Accenture were worth $4,115,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Morse Asset Management Inc acquired a new stake in Accenture in the third quarter worth about $25,000. FPC Investment Advisory Inc. lifted its position 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 valued at $28,000 after acquiring an additional 28 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of Accenture during the fourth quarter worth about $30,000. POM Investment Strategies LLC raised its holdings in shares of Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 34 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Accenture in the fourth quarter worth $34,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Trading Down 0.0 %

Shares of Accenture stock opened at $285.01 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a 50 day moving average price of $347.92 and a two-hundred day moving average price of $354.32. Accenture plc has a 52 week low of $275.01 and a 52 week high of $398.35. The stock has a market capitalization of $178.51 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 3.23 and a beta of 1.32.

Accenture (NYSE:ACN) last released its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.01. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $16.70 billion for the quarter, compared to analysts’ expectations of $16.64 billion. During the same period in the previous year, the business posted $2.77 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, 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 will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $5.92 annualized dividend and a yield of 2.08%. Accenture’s payout ratio is 48.89%.

Insider Buying and Selling at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 232 shares of Accenture stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total transaction of $91,514.72. Following the completion of the transaction, the chief accounting officer now owns 8,915 shares in the company, valued at approximately $3,516,610.90. The trade was a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Julie Spellman Sweet sold 2,497 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.48, for a total transaction of $885,136.56. Following the sale, the chief executive officer now owns 28,866 shares of the company’s stock, valued at approximately $10,232,419.68. This represents a 7.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,905 shares of company stock worth $8,181,753. 0.02% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ACN. JPMorgan Chase & Co. increased their price target on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Stifel Nicolaus dropped their price target on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. BMO Capital Markets boosted their price objective on shares of Accenture to $355.00 and gave the stock a “hold” rating in a research note on Wednesday, March 26th. Barclays reduced their price target on Accenture from $415.00 to $390.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Finally, StockNews.com cut Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Eight research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $378.23.

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.