Portfolio Design Labs LLC Has $3.55 Million Position in Accenture plc (NYSE:ACN)

Portfolio Design Labs LLC grew its stake in Accenture plc (NYSE:ACN) by 27.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,080 shares of the information technology services provider’s stock after buying an additional 2,193 shares during the period. Portfolio Design Labs LLC’s holdings in Accenture were worth $3,546,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Morse Asset Management Inc acquired a new stake in shares of Accenture in the third quarter valued at about $25,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Accenture in the third quarter valued at about $30,000. POM Investment Strategies LLC increased its stake in shares of 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 buying an additional 34 shares during the period. Retirement Wealth Solutions LLC acquired a new stake in shares of Accenture in the fourth quarter valued at about $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of Accenture by 607.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 85 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ACN. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Piper Sandler raised their target price on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a research note on Wednesday, October 30th. Robert W. Baird reaffirmed a “neutral” rating and set a $370.00 target price on shares of Accenture in a research note on Tuesday, December 3rd. Finally, Morgan Stanley raised their target price on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $387.22.

Insider Activity

In related news, General Counsel Joel Unruch sold 4,750 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $362.78, for a total value of $1,723,205.00. Following the transaction, the general counsel now owns 20,526 shares in the company, valued at approximately $7,446,422.28. This represents a 18.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value 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 approximately $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock worth $8,316,190 over the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

Accenture Stock Up 0.9 %

ACN stock opened at $390.21 on Wednesday. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average is $362.81 and its 200-day moving average is $352.74. The firm has a market capitalization of $244.19 billion, a PE ratio of 32.74, a P/E/G ratio of 3.44 and a beta of 1.24.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. During the same quarter last year, the company earned $3.27 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Sell-side analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be issued a $1.48 dividend. 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 dividend payout ratio is presently 49.66%.

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.