Cache Advisors LLC Makes New Investment in Accenture plc (NYSE:ACN)

Cache Advisors LLC purchased a new position in shares of Accenture plc (NYSE:ACN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,731 shares of the information technology services provider's stock, valued at approximately $2,368,000. Accenture makes up approximately 0.9% of Cache Advisors LLC's investment portfolio, making the stock its 24th biggest position.

Several other hedge funds have also made changes to their positions in the business. Independent Wealth Network Inc. purchased a new stake in shares of Accenture during the fourth quarter worth approximately $205,000. Traynor Capital Management Inc. increased its stake in shares of Accenture by 23.1% during the fourth quarter. Traynor Capital Management Inc. now owns 713 shares of the information technology services provider's stock worth $251,000 after buying an additional 134 shares during the period. Mutual Advisors LLC increased its stake in shares of Accenture by 3.1% during the fourth quarter. Mutual Advisors LLC now owns 6,712 shares of the information technology services provider's stock worth $2,353,000 after buying an additional 202 shares during the period. Red Door Wealth Management LLC increased its stake in shares of Accenture by 6.7% during the fourth quarter. Red Door Wealth Management LLC now owns 1,143 shares of the information technology services provider's stock worth $402,000 after buying an additional 72 shares during the period. Finally, Veracity Capital LLC increased its stake in shares of Accenture by 5.7% during the fourth quarter. Veracity Capital LLC now owns 2,271 shares of the information technology services provider's stock worth $799,000 after buying an additional 123 shares during the period. Institutional investors and hedge funds own 75.14% of the company's stock.

Analyst Ratings Changes

ACN has been the topic of several recent analyst reports. Royal Bank of Canada dropped their price target on shares of Accenture from $399.00 to $392.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Wall Street Zen lowered shares of Accenture from a "buy" rating to a "hold" rating in a research note on Tuesday, March 11th. Stifel Nicolaus dropped their price target on shares of Accenture from $390.00 to $380.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley dropped their price target on shares of Accenture from $380.00 to $372.00 and set an "equal weight" rating on the stock in a research note on Monday, March 17th. Finally, UBS Group reiterated a "buy" rating and issued a $395.00 price target (up from $390.00) on shares of Accenture in a research note on Thursday, May 22nd. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $382.14.

Insider Transactions at Accenture

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

Accenture Price Performance

Shares of ACN stock traded up $1.51 during mid-day trading on Thursday, reaching $317.50. The stock had a trading volume of 1,162,812 shares, compared to its average volume of 2,993,024. Accenture plc has a 12-month low of $275.01 and a 12-month high of $398.35. The company has a market cap of $198.86 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 3.23 and a beta of 1.35. The business has a 50-day simple moving average of $302.27 and a 200 day simple moving average of $339.31. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, topping analysts' consensus estimates of $2.81 by $0.01. The firm had revenue of $16.70 billion during the quarter, compared to analysts' expectations of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.77 EPS. On average, sell-side analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 10th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Thursday, April 10th. Accenture's dividend payout ratio is presently 48.89%.

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.