Accenture plc (NYSE:ACN) is Abacus FCF Advisors LLC’s 7th Largest Position

Abacus FCF Advisors LLC boosted its position in shares of Accenture plc (NYSE:ACN) by 81.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,585 shares of the information technology services provider’s stock after acquiring an additional 18,180 shares during the period. Accenture accounts for about 1.9% of Abacus FCF Advisors LLC’s holdings, making the stock its 7th biggest position. Abacus FCF Advisors LLC’s holdings in Accenture were worth $14,277,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Baldwin Wealth Partners LLC MA increased its holdings in shares of Accenture by 6.5% in the 4th quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock worth $22,314,000 after buying an additional 3,883 shares during the last quarter. Davidson Trust Co. lifted its position in Accenture by 7.4% in the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock worth $812,000 after buying an additional 158 shares during the last quarter. Franklin Street Advisors Inc. NC grew its position in Accenture by 126.8% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 40,051 shares of the information technology services provider’s stock valued at $14,090,000 after acquiring an additional 22,391 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Accenture by 37.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,094 shares of the information technology services provider’s stock valued at $1,088,000 after purchasing an additional 843 shares during the last quarter. Finally, SteelPeak Wealth LLC boosted its position in Accenture by 127.1% during the fourth quarter. SteelPeak Wealth LLC now owns 2,323 shares of the information technology services provider’s stock valued at $817,000 after buying an additional 1,300 shares during the period. Institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling at Accenture

In other news, CAO Melissa A. Burgum sold 1,487 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total value of $527,200.98. Following the completion of the transaction, the chief accounting officer now directly owns 9,247 shares of the company’s stock, valued at approximately $3,278,431.38. The trade was a 13.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of the sale, the chief executive officer now owns 11,858 shares in the company, 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. Insiders sold 21,905 shares of company stock worth $8,181,753 in the last quarter. 0.02% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ACN has been the topic of several recent analyst reports. Baird R W upgraded shares of Accenture from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Guggenheim dropped their price objective on Accenture from $400.00 to $395.00 and set a “buy” rating for the company in a report on Friday, March 21st. StockNews.com downgraded shares of Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Morgan Stanley reduced their price target on shares of Accenture from $380.00 to $372.00 and set an “equal weight” rating on the stock in a research report on Monday, March 17th. Finally, Mizuho lowered their target price on Accenture from $428.00 to $398.00 and set an “outperform” rating for the company in a research note on Wednesday, March 19th. Eight equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $378.23.

Accenture Price Performance

NYSE ACN opened at $285.01 on Tuesday. Accenture plc has a fifty-two week low of $275.01 and a fifty-two week high of $398.35. 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 company 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. The business’s fifty day moving average is $347.92 and its 200 day moving average is $354.32.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.01. The business had revenue of $16.70 billion during the quarter, compared to analyst estimates of $16.64 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.77 earnings per share. Sell-side analysts predict that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 10th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, April 10th. Accenture’s payout ratio is presently 48.89%.

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.