Lindbrook Capital LLC Has $1.09 Million Stock Holdings in Accenture plc (NYSE:ACN)

Lindbrook Capital LLC lifted its stake in Accenture plc (NYSE:ACN) by 9.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,095 shares of the information technology services provider’s stock after acquiring an additional 259 shares during the quarter. Lindbrook Capital LLC’s holdings in Accenture were worth $1,086,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ACN. United Bank increased its position in Accenture by 6.3% during the first quarter. United Bank now owns 2,969 shares of the information technology services provider’s stock worth $1,001,000 after buying an additional 176 shares during the last quarter. Weitz Investment Management Inc. increased its position in Accenture by 1.3% during the first quarter. Weitz Investment Management Inc. now owns 89,400 shares of the information technology services provider’s stock worth $30,148,000 after buying an additional 1,168 shares during the last quarter. Fund Management at Engine No. 1 LLC acquired a new position in Accenture during the first quarter worth $1,805,000. Guardian Wealth Management Inc. increased its position in Accenture by 0.6% during the first quarter. Guardian Wealth Management Inc. now owns 7,292 shares of the information technology services provider’s stock worth $2,459,000 after buying an additional 41 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in Accenture by 104.8% during the first quarter. Clearbridge Investments LLC now owns 441,451 shares of the information technology services provider’s stock worth $148,871,000 after buying an additional 225,943 shares during the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Accenture

In related news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 20,316 shares of the company’s stock, valued at $7,553,691.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Accenture news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $7,553,691.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO John F. Walsh sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the completion of the transaction, the chief operating officer now directly owns 17,877 shares in the company, valued at $5,937,488.01. The disclosure for this sale can be found here. Insiders sold a total of 35,500 shares of company stock valued at $12,276,123 over the last quarter. Corporate insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ACN. Royal Bank of Canada increased their target price on shares of Accenture from $374.00 to $381.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. UBS Group upped their price target on shares of Accenture from $365.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. TD Cowen decreased their price target on shares of Accenture from $363.00 to $350.00 and set a “market perform” rating for the company in a report on Friday, March 22nd. Morgan Stanley upped their price target on shares of Accenture from $400.00 to $417.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Finally, StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a report on Friday. Seven 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 an average rating of “Moderate Buy” and an average target price of $387.00.

Accenture Stock Performance

Shares of NYSE ACN traded up $0.88 during mid-day trading on Friday, hitting $316.88. 3,381,612 shares of the stock were exchanged, compared to its average volume of 2,947,733. The company has a market cap of $212.54 billion, a P/E ratio of 28.73, a PEG ratio of 3.00 and a beta of 1.19. The stock’s fifty day simple moving average is $355.21 and its two-hundred day simple moving average is $342.08. Accenture plc has a twelve month low of $261.68 and a twelve month high of $387.51.

Accenture (NYSE:ACN) last posted its quarterly earnings data 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 company had revenue of $15.80 billion during the quarter, compared to analyst estimates of $15.85 billion. Accenture had a net margin of 10.89% and a return on equity of 28.30%. The company’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the business posted $2.69 earnings per share. As a group, equities research analysts predict that Accenture plc will post 12.09 earnings per share for the current fiscal year.

Accenture Announces Dividend

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 issued a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Wednesday, April 10th. Accenture’s dividend payout ratio is currently 46.78%.

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.