Mcdaniel Terry & Co. Takes $10.58 Million Position in Accenture PLC (NYSE:ACN)

Mcdaniel Terry & Co. bought a new position in Accenture PLC (NYSE:ACN - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 33,904 shares of the information technology services provider's stock, valued at approximately $10,579,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors increased its position in shares of Accenture by 16.8% during the fourth quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider's stock worth $4,325,526,000 after acquiring an additional 1,770,024 shares during the period. Alteri Wealth LLC purchased a new position in shares of Accenture during the fourth quarter worth approximately $321,000. Proficio Capital Partners LLC increased its position in shares of Accenture by 47.6% during the fourth quarter. Proficio Capital Partners LLC now owns 2,446 shares of the information technology services provider's stock worth $861,000 after acquiring an additional 789 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Accenture by 62.2% during the first quarter. Exchange Traded Concepts LLC now owns 905 shares of the information technology services provider's stock worth $282,000 after acquiring an additional 347 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of Accenture during the fourth quarter worth approximately $317,000. 75.14% of the stock is currently owned by institutional investors.

Accenture Trading Down 0.3%

Shares of ACN traded down $0.82 during mid-day trading on Friday, hitting $295.26. The company had a trading volume of 4,159,093 shares, compared to its average volume of 2,894,859. The business's 50-day simple moving average is $308.04 and its 200-day simple moving average is $331.42. The company has a quick ratio of 1.48, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. Accenture PLC has a 1-year low of $273.19 and a 1-year high of $398.35. The stock has a market cap of $184.93 billion, a PE ratio of 23.51, a P/E/G ratio of 2.89 and a beta of 1.33.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share for the quarter, beating analysts' consensus estimates of $3.32 by $0.17. The firm had revenue of $17.73 billion for the quarter, compared to analysts' expectations of $17.26 billion. Accenture had a net margin of 11.61% and a return on equity of 26.55%. Accenture's revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.13 earnings per share. Sell-side analysts forecast that Accenture PLC will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be paid a $1.48 dividend. The ex-dividend date is Thursday, July 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 2.01%. Accenture's dividend payout ratio (DPR) is presently 47.13%.

Analyst Ratings Changes

ACN has been the topic of a number of research reports. UBS Group reaffirmed a "buy" rating and set a $395.00 target price (up from $390.00) on shares of Accenture in a research report on Thursday, May 22nd. Barclays lowered their price target on shares of Accenture from $390.00 to $360.00 and set an "overweight" rating for the company in a research report on Monday, June 23rd. BMO Capital Markets lowered their price target on shares of Accenture from $355.00 to $325.00 and set a "market perform" rating for the company in a research report on Monday, June 23rd. Guggenheim lowered their price target on shares of Accenture from $360.00 to $335.00 and set a "buy" rating for the company in a research report on Monday, June 23rd. Finally, Benchmark reaffirmed a "mixed" rating on shares of Accenture in a research report on Friday, June 20th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $370.71.

Insider Buying and Selling

In other Accenture news, insider Angela Beatty sold 169 shares of Accenture stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.90, for a total value of $47,641.10. Following the completion of the transaction, the insider now owns 5,364 shares of the company's stock, valued at $1,512,111.60. The trade was a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Julie Spellman Sweet sold 2,284 shares of Accenture stock in a transaction on Friday, April 11th. The stock was sold at an average price of $281.63, for a total transaction of $643,242.92. Following the completion of the transaction, the chief executive officer now directly owns 9,965 shares of the company's stock, valued at approximately $2,806,442.95. This represents a 18.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,516 shares of company stock worth $2,507,366. Insiders own 0.02% of the company's stock.

Accenture 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.