Twin Capital Management Inc. Purchases 223 Shares of Accenture plc (NYSE:ACN)

Twin Capital Management Inc. grew its holdings in Accenture plc (NYSE:ACN) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,602 shares of the information technology services provider’s stock after purchasing an additional 223 shares during the quarter. Twin Capital Management Inc.’s holdings in Accenture were worth $4,433,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Accenture by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 60,394,657 shares of the information technology services provider’s stock worth $21,246,236,000 after purchasing an additional 392,183 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Accenture by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 13,528,348 shares of the information technology services provider’s stock worth $4,750,021,000 after purchasing an additional 136,665 shares during the period. Wellington Management Group LLP grew its position in shares of Accenture by 22.8% in the 4th quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider’s stock valued at $4,283,225,000 after purchasing an additional 2,260,740 shares during the period. Norges Bank bought a new position in Accenture in the fourth quarter valued at approximately $2,351,683,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Accenture by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,964,480 shares of the information technology services provider’s stock valued at $1,746,455,000 after buying an additional 140,726 shares during the period. 75.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on ACN. Stifel Nicolaus decreased their price objective on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. UBS Group cut their price objective on shares of Accenture from $455.00 to $387.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Piper Sandler decreased their target price on shares of Accenture from $396.00 to $364.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Robert W. Baird raised shares of Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price target on the stock in a research report on Monday, March 17th. Finally, Morgan Stanley decreased their price target on Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a research note on Monday, March 17th. Eight investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $378.23.

Accenture Stock Performance

NYSE ACN opened at $285.04 on Monday. The firm’s fifty day moving average price is $349.68 and its two-hundred day moving average price is $354.67. Accenture plc has a fifty-two week low of $275.00 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 stock has a market cap of $178.53 billion, a PE ratio of 23.91, a PEG 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.01. The company had revenue of $16.70 billion for the quarter, compared to the consensus estimate of $16.64 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. Accenture’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.77 EPS. On average, equities analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

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

Insider Transactions at Accenture

In other Accenture news, insider Angela Beatty sold 961 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $354.47, for a total value of $340,645.67. Following the completion of the sale, the insider now owns 5,484 shares in the company, valued at approximately $1,943,913.48. The trade was a 14.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Melissa A. Burgum sold 1,487 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total value of $527,200.98. Following the transaction, the chief accounting officer now owns 9,247 shares of the company’s stock, valued at approximately $3,278,431.38. This represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,905 shares of company stock valued at $8,181,753. 0.02% of the stock is currently owned by corporate insiders.

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.