Okabena Investment Services Inc. Has $2.23 Million Stake in Accenture plc (NYSE:ACN)

Okabena Investment Services Inc. cut its holdings in shares of Accenture plc (NYSE:ACN) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,342 shares of the information technology services provider’s stock after selling 207 shares during the quarter. Okabena Investment Services Inc.’s holdings in Accenture were worth $2,231,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Morse Asset Management Inc bought a new position in shares of Accenture in the third quarter worth $25,000. FPC Investment Advisory Inc. increased its holdings 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 buying an additional 28 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Accenture during the 4th quarter worth approximately $30,000. POM Investment Strategies LLC increased its stake in 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 acquiring an additional 34 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in Accenture during the fourth quarter worth $34,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 232 shares of Accenture stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total value of $91,514.72. Following the sale, the chief accounting officer now owns 8,915 shares of the company’s stock, 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 legal filing with the SEC, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 11,858 shares of the company’s stock, 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 have sold 21,905 shares of company stock worth $8,181,753 in the last ninety days. Company insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group dropped their price objective on Accenture from $455.00 to $387.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a report on Wednesday, January 8th. BMO Capital Markets increased their target price on Accenture to $355.00 and gave the company a “hold” rating in a research report on Wednesday. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and upped their price objective for the company from $370.00 to $420.00 in a research note on Friday, December 6th. Finally, Stifel Nicolaus cut their target price 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. Eight equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $378.23.

Accenture Trading Down 1.4 %

NYSE ACN opened at $304.32 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $190.44 billion, a P/E ratio of 25.53, a PEG ratio of 3.23 and a beta of 1.24. The business has a fifty day simple moving average of $354.96 and a 200 day simple moving average of $355.97. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.81 by $0.01. The firm 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 for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $2.77 EPS. On average, analysts predict 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 Thursday, May 15th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Thursday, April 10th. Accenture’s dividend payout ratio is presently 48.89%.

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.