Cache Advisors LLC Purchases Shares of 6,731 Accenture plc (NYSE:ACN)

Cache Advisors LLC purchased a new stake in shares of Accenture plc (NYSE:ACN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,731 shares of the information technology services provider's stock, valued at approximately $2,368,000. Accenture comprises about 0.9% of Cache Advisors LLC's investment portfolio, making the stock its 24th biggest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FPC Investment Advisory Inc. increased its position in shares of Accenture by 62.2% during the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider's stock valued at $28,000 after purchasing an additional 28 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in Accenture in the 4th quarter worth approximately $30,000. Mpwm Advisory Solutions LLC purchased a new stake in Accenture in the 4th quarter worth approximately $30,000. POM Investment Strategies LLC increased its holdings in Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider's stock worth $31,000 after acquiring an additional 34 shares in the last quarter. Finally, Promus Capital LLC purchased a new stake in Accenture in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 75.14% of the company's stock.

Accenture Trading Up 1.8%

NYSE:ACN traded up $5.42 during mid-day trading on Tuesday, hitting $315.00. 3,247,110 shares of the stock traded hands, compared to its average volume of 3,000,298. The stock has a market capitalization of $197.29 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 3.23 and a beta of 1.35. Accenture plc has a 52 week low of $275.01 and a 52 week high of $398.35. The firm's 50 day moving average is $301.76 and its two-hundred day moving average is $339.65. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.81 by $0.01. The company had revenue of $16.70 billion for the quarter, compared to the consensus estimate of $16.64 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm's revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.77 EPS. On average, equities research analysts predict that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th were given a $1.48 dividend. The ex-dividend date was Thursday, April 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.88%. Accenture's payout ratio is presently 48.89%.

Insider Transactions at Accenture

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

Analysts Set New Price Targets

ACN has been the subject of several analyst reports. Robert W. Baird raised shares of Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 target price for the company in a report on Monday, March 17th. Wall Street Zen downgraded Accenture from a "buy" rating to a "hold" rating in a research note on Tuesday, March 11th. Guggenheim dropped their price target on Accenture from $400.00 to $395.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Royal Bank of Canada dropped their price target on Accenture from $399.00 to $392.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Finally, UBS Group restated 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 assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Accenture has a consensus rating of "Moderate Buy" and an average price target of $382.14.

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.