Two Point Capital Management Inc. Lowers Position in Accenture plc (NYSE:ACN)

Two Point Capital Management Inc. trimmed its holdings in shares of Accenture plc (NYSE:ACN) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,600 shares of the information technology services provider’s stock after selling 119 shares during the period. Accenture comprises approximately 5.5% of Two Point Capital Management Inc.’s investment portfolio, making the stock its 5th largest holding. Two Point Capital Management Inc.’s holdings in Accenture were worth $15,540,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ACN. State Street Corp raised its stake in Accenture by 1.8% in the 3rd quarter. State Street Corp now owns 27,400,836 shares of the information technology services provider’s stock valued at $9,685,648,000 after acquiring an additional 471,792 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Accenture by 378.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock valued at $1,941,219,000 after acquiring an additional 4,345,039 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Accenture by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,823,754 shares of the information technology services provider’s stock valued at $1,705,100,000 after acquiring an additional 56,937 shares during the period. Swedbank AB raised its stake in Accenture by 47.5% in the 4th quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock valued at $1,324,029,000 after acquiring an additional 1,212,011 shares during the period. Finally, Stifel Financial Corp raised its stake in Accenture by 1.5% in the 3rd quarter. Stifel Financial Corp now owns 1,892,409 shares of the information technology services provider’s stock valued at $668,974,000 after acquiring an additional 28,491 shares during the period. 75.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on ACN. Jefferies Financial Group lowered their price objective on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. UBS Group lifted their target price on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. BMO Capital Markets lifted their target price on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. BNP Paribas lowered Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a report on Wednesday, October 30th. Finally, Morgan Stanley lifted their target price on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $387.22.

Insider Buying and Selling at Accenture

In related news, CFO Angie Y. Park sold 685 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $354.38, for a total transaction of $242,750.30. Following the completion of the transaction, the chief financial officer now directly owns 8,674 shares of the company’s stock, valued at $3,073,892.12. The trade was a 7.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Melissa A. Burgum sold 232 shares of Accenture stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the sale, the chief accounting officer now directly owns 8,915 shares of the company’s stock, valued at $3,516,610.90. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock valued at $8,316,190 over the last quarter. 0.02% of the stock is currently owned by insiders.

Accenture Price Performance

Shares of Accenture stock opened at $388.85 on Thursday. The stock has a market cap of $243.34 billion, a price-to-earnings ratio of 32.62, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. 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 $363.57 and a 200-day moving average price of $353.18. Accenture plc has a one year low of $278.69 and a one year high of $398.35.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.16. The firm 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 revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.27 EPS. Equities analysts expect that Accenture plc will post 12.73 EPS for the current year.

Accenture Announces Dividend

The company 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 dividend of $1.48 per share. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.52%. Accenture’s payout ratio is currently 49.66%.

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.