Accenture plc (NYSE:ACN) Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC increased its holdings in shares of Accenture plc (NYSE:ACN) by 10.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,223 shares of the information technology services provider’s stock after acquiring an additional 1,098 shares during the period. Procyon Advisors LLC’s holdings in Accenture were worth $3,938,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ACN. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Accenture in the first quarter valued at approximately $28,000. BluePath Capital Management LLC purchased a new stake in Accenture in the 3rd quarter worth $31,000. RVW Wealth LLC purchased a new position in Accenture during the third quarter valued at $33,000. Tyler Stone Wealth Management acquired a new stake in shares of Accenture in the second quarter valued at about $35,000. Finally, Canton Hathaway LLC purchased a new stake in shares of Accenture during the third quarter worth about $37,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Stock Performance

Shares of NYSE:ACN traded up $3.49 during trading hours on Thursday, reaching $344.43. The stock had a trading volume of 398,275 shares, compared to its average volume of 2,247,755. The firm’s 50 day moving average is $369.38 and its 200-day moving average is $340.37. The stock has a market capitalization of $216.06 billion, a price-to-earnings ratio of 30.91, a P/E/G ratio of 3.19 and a beta of 1.20. Accenture plc has a 1 year low of $261.68 and a 1 year high of $387.51.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.11. The business had revenue of $15.80 billion for the quarter, compared to analyst estimates of $15.85 billion. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the company earned $2.69 EPS. Analysts forecast that Accenture plc will post 12.1 EPS for the current year.

Accenture Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 11th will be given a $1.29 dividend. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a $5.16 dividend on an annualized basis and a yield of 1.50%. Accenture’s dividend payout ratio (DPR) is presently 46.78%.

Analyst Ratings Changes

A number of equities analysts have commented on ACN shares. Morgan Stanley increased their target price on Accenture from $400.00 to $417.00 and gave the company an “overweight” rating in a report on Monday, March 18th. BNP Paribas upgraded Accenture from a “neutral” rating to an “outperform” rating and set a $440.00 price objective on the stock in a report on Wednesday, January 17th. Susquehanna reaffirmed a “neutral” rating and set a $360.00 target price (down previously from $400.00) on shares of Accenture in a report on Thursday, March 21st. Wedbush raised their price target on shares of Accenture from $330.00 to $360.00 and gave the stock an “outperform” rating in a research note on Thursday, December 14th. Finally, BMO Capital Markets dropped their price objective on shares of Accenture from $385.00 to $375.00 and set a “market perform” rating for the company in a research note on Friday, March 22nd. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $387.00.

Insiders Place Their Bets

In other Accenture news, CAO Melissa A. Burgum sold 3,010 shares of Accenture stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $371.80, for a total transaction of $1,119,118.00. Following the transaction, the chief accounting officer now owns 9,193 shares of the company’s stock, valued at $3,417,957.40. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Accenture news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction on Friday, January 26th. The shares were sold at an average price of $371.81, for a total value of $1,859,050.00. Following the transaction, the insider now directly owns 20,316 shares in the company, valued at $7,553,691.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Melissa A. Burgum sold 3,010 shares of Accenture stock in a transaction on Friday, January 26th. The shares were sold at an average price of $371.80, for a total transaction of $1,119,118.00. Following the completion of the transaction, the chief accounting officer now owns 9,193 shares in the company, valued at $3,417,957.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,000 shares of company stock valued at $11,146,998. 0.07% of the stock is currently owned by 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.