Accenture PLC $ACN Stock Position Increased by Concurrent Investment Advisors LLC

Key Points

• Concurrent Investment Advisors LLC boosted its Accenture stake by 73.9% in Q4, adding 21,287 shares to hold 50,074 shares valued at about $13.44 million.
• Accenture beat Q results with EPS of $2.93 vs. $2.84 and revenue of $18.04B (up 7.8% YoY), and declared a $1.63 quarterly dividend (annualized yield ~3.7%).
• Analysts maintain a consensus of "Moderate Buy" (17 Buys, 10 Holds) with an average target of $274.50, while institutional ownership is high at 75.14% even as insiders have recently sold shares (14,305 shares worth ~$3.76M over 90 days).

Concurrent Investment Advisors LLC boosted its position in Accenture PLC (NYSE:ACN - Free Report) by 73.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,074 shares of the information technology services provider's stock after purchasing an additional 21,287 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Accenture were worth $13,435,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Jaffetilchin Investment Partners LLC lifted its position in Accenture by 4.2% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 878 shares of the information technology services provider's stock valued at $236,000 after purchasing an additional 35 shares during the last quarter. Clayton Financial Group LLC raised its position in shares of Accenture by 13.1% during the 4th quarter. Clayton Financial Group LLC now owns 329 shares of the information technology services provider's stock worth $88,000 after buying an additional 38 shares in the last quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. raised its position in shares of Accenture by 0.9% during the 3rd quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 4,416 shares of the information technology services provider's stock worth $1,089,000 after buying an additional 41 shares in the last quarter. SkyView Investment Advisors LLC raised its position in shares of Accenture by 1.2% during the 2nd quarter. SkyView Investment Advisors LLC now owns 3,751 shares of the information technology services provider's stock worth $1,108,000 after buying an additional 43 shares in the last quarter. Finally, IVC Wealth Advisors LLC raised its position in shares of Accenture by 5.0% during the 4th quarter. IVC Wealth Advisors LLC now owns 927 shares of the information technology services provider's stock worth $249,000 after buying an additional 44 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on ACN. UBS Group restated a "buy" rating on shares of Accenture in a research report on Tuesday, March 17th. Rothschild & Co Redburn boosted their price target on shares of Accenture from $205.00 to $210.00 and gave the stock a "neutral" rating in a research report on Monday, January 5th. Guggenheim dropped their price target on shares of Accenture from $275.00 to $250.00 and set a "buy" rating on the stock in a research report on Friday, March 20th. BMO Capital Markets dropped their price target on shares of Accenture from $300.00 to $230.00 and set a "market perform" rating on the stock in a research report on Friday, March 20th. Finally, Argus dropped their price target on shares of Accenture from $370.00 to $335.00 and set a "buy" rating on the stock in a research report on Monday, December 29th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $274.50.

Accenture Stock Performance

Shares of ACN opened at $178.61 on Friday. The firm's 50 day moving average is $199.82 and its 200-day moving average is $237.78. The stock has a market capitalization of $118.86 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.69 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.34 and a quick ratio of 1.34. Accenture PLC has a 12-month low of $173.84 and a 12-month high of $325.71.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. The company had revenue of $18.04 billion for the quarter, compared to analysts' expectations of $17.80 billion. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The business's revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.82 EPS. Equities research analysts anticipate that Accenture PLC will post 13.87 EPS for the current fiscal year.

Accenture Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 9th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $6.52 annualized dividend and a dividend yield of 3.7%. Accenture's payout ratio is currently 53.40%.

Insider Buying and Selling at Accenture

In other news, CEO John F. Walsh sold 3,986 shares of Accenture stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $276.38, for a total value of $1,101,650.68. Following the transaction, the chief executive officer directly owned 27,221 shares of the company's stock, valued at $7,523,339.98. This trade represents a 12.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Melissa A. Burgum sold 3,588 shares of Accenture stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $281.01, for a total transaction of $1,008,263.88. Following the completion of the transaction, the chief accounting officer directly owned 8,179 shares in the company, valued at approximately $2,298,380.79. This trade represents a 30.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 14,305 shares of company stock worth $3,759,847. 0.02% of the stock is currently owned by company insiders.

About Accenture

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.

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