Arcadia Investment Management Corp MI Has $10.30 Million Stock Holdings in Accenture PLC $ACN

Key Points

• Arcadia Investment Management trimmed its Accenture stake by 13.7% in the fourth quarter, selling 6,100 shares and leaving it with 38,380 shares valued at about $10.3 million.
• Several analysts recently cut price targets on Accenture, but the stock still carries a consensus rating of “Moderate Buy” with an average target price of $274.50.
• Accenture’s latest results beat expectations, with EPS of $2.93 on $18.04 billion in revenue, and the company also paid a $1.63 quarterly dividend yielding about 3.5%.

Arcadia Investment Management Corp MI cut its holdings in Accenture PLC (NYSE:ACN - Free Report) by 13.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,380 shares of the information technology services provider's stock after selling 6,100 shares during the quarter. Accenture makes up 1.7% of Arcadia Investment Management Corp MI's portfolio, making the stock its 18th largest position. Arcadia Investment Management Corp MI's holdings in Accenture were worth $10,297,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Triumph Capital Management acquired a new stake in shares of Accenture in the third quarter valued at $26,000. Board of the Pension Protection Fund acquired a new stake in Accenture in the fourth quarter worth about $27,000. Laurel Wealth Advisors LLC acquired a new stake in Accenture in the fourth quarter worth about $27,000. Private Wealth Management Group LLC increased its position in Accenture by 96.4% in the fourth quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 53 shares during the period. Finally, Steph & Co. increased its position in Accenture by 107.5% in the fourth quarter. Steph & Co. now owns 110 shares of the information technology services provider's stock worth $30,000 after purchasing an additional 57 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the company. HSBC lowered their price objective on Accenture from $220.00 to $210.00 and set a "hold" rating for the company in a research report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft lowered their price objective on Accenture from $280.00 to $230.00 and set a "hold" rating for the company in a research report on Friday, March 6th. Truist Financial lowered their price objective on Accenture from $317.00 to $260.00 and set a "buy" rating for the company in a research report on Tuesday, March 10th. Morgan Stanley lowered their price objective on Accenture from $320.00 to $240.00 and set an "overweight" rating for the company in a research report on Monday, March 16th. Finally, Piper Sandler set a $282.00 price objective on Accenture in a research report on Thursday, March 5th. Seventeen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $274.50.

Accenture Price Performance

Shares of ACN opened at $187.32 on Monday. Accenture PLC has a 1 year low of $155.82 and a 1 year high of $321.77. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. The stock has a market cap of $124.65 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 1.77 and a beta of 1.09. The stock's 50-day moving average price is $185.71 and its two-hundred day moving average price is $226.37.

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

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 9th were paid a $1.63 dividend. The ex-dividend date was Thursday, April 9th. This represents a $6.52 annualized dividend and a yield of 3.5%. Accenture's payout ratio is presently 53.40%.

Insider Buying and Selling

In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of the business's stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $177.14, for a total value of $863,026.08. Following the sale, the chief executive officer owned 12,802 shares in the company, valued at approximately $2,267,746.28. The trade was a 27.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.02% of the company's stock.

Accenture Company Profile

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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