Accenture plc (NYSE:ACN) Holdings Lowered by Two Point Capital Management Inc.

Two Point Capital Management Inc. decreased its position in shares of Accenture plc (NYSE:ACN) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,600 shares of the information technology services provider’s stock after selling 119 shares during the quarter. Accenture accounts for about 5.5% of Two Point Capital Management Inc.’s holdings, making the stock its 5th biggest position. Two Point Capital Management Inc.’s holdings in Accenture were worth $15,540,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Creative Planning increased its holdings in shares of Accenture by 5.5% during the 3rd quarter. Creative Planning now owns 247,724 shares of the information technology services provider’s stock worth $87,566,000 after buying an additional 12,993 shares during the last quarter. NBC Securities Inc. increased its holdings in shares of Accenture by 0.6% during the 3rd quarter. NBC Securities Inc. now owns 5,206 shares of the information technology services provider’s stock worth $1,840,000 after buying an additional 30 shares during the last quarter. Swedbank AB increased its holdings in shares of Accenture by 16.6% during the 3rd quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock worth $901,967,000 after buying an additional 363,401 shares during the last quarter. Brady Family Wealth LLC increased its holdings in shares of Accenture by 2.1% during the 3rd quarter. Brady Family Wealth LLC now owns 24,592 shares of the information technology services provider’s stock worth $8,693,000 after buying an additional 509 shares during the last quarter. Finally, EdgeRock Capital LLC increased its holdings in shares of Accenture by 12.0% during the 3rd quarter. EdgeRock Capital LLC now owns 654 shares of the information technology services provider’s stock worth $231,000 after buying an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Stock Performance

Shares of ACN opened at $388.85 on Thursday. The stock has a market capitalization of $243.34 billion, a price-to-earnings ratio of 32.62, a PEG ratio of 3.44 and a beta of 1.24. The firm has a fifty day simple moving average of $363.57 and a 200 day simple moving average of $353.18. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.27 earnings per share. Research analysts forecast that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Thursday, January 16th. Accenture’s dividend payout ratio is presently 49.66%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a report on Wednesday, January 8th. Robert W. Baird reiterated a “neutral” rating and issued a $370.00 price target on shares of Accenture in a report on Tuesday, December 3rd. Morgan Stanley increased their price target on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Jefferies Financial Group lowered their price target on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Finally, UBS Group increased their price target on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $387.22.

Insider Buying and Selling at Accenture

In related news, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of the transaction, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This trade represents a 42.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the transaction, the insider now directly owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. This represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is currently owned by corporate insiders.

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.