Cache Advisors LLC Makes New $2.37 Million Investment in Accenture plc (NYSE:ACN)

Cache Advisors LLC purchased a new stake in Accenture plc (NYSE:ACN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,731 shares of the information technology services provider's stock, valued at approximately $2,368,000. Accenture accounts for about 0.9% of Cache Advisors LLC's investment portfolio, making the stock its 24th largest holding.

Several other large investors have also recently bought and sold shares of ACN. Visionary Wealth Advisors raised its position in shares of Accenture by 3.5% during the 4th quarter. Visionary Wealth Advisors now owns 778 shares of the information technology services provider's stock valued at $274,000 after buying an additional 26 shares in the last quarter. Vivaldi Capital Management LP raised its position in shares of Accenture by 3.6% during the 4th quarter. Vivaldi Capital Management LP now owns 782 shares of the information technology services provider's stock valued at $292,000 after buying an additional 27 shares in the last quarter. Newbridge Financial Services Group Inc. raised its position in shares of Accenture by 5.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider's stock valued at $182,000 after buying an additional 28 shares in the last quarter. FPC Investment Advisory Inc. raised 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 buying an additional 28 shares in the last quarter. Finally, New England Professional Planning Group Inc. raised its position in shares of Accenture by 4.6% during the 4th quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider's stock valued at $230,000 after buying an additional 29 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Accenture Stock Up 0.2%

NYSE:ACN traded up $0.70 during mid-day trading on Wednesday, hitting $316.13. 3,434,616 shares of the company's stock were exchanged, compared to its average volume of 3,002,030. Accenture plc has a one year low of $275.01 and a one year high of $398.35. The company has a market cap of $198.00 billion, a PE ratio of 26.52, a P/E/G ratio of 3.23 and a beta of 1.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The business has a fifty day moving average price of $302.05 and a 200 day moving average price of $339.47.

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

Accenture Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th were issued a dividend of $1.48 per share. The ex-dividend date was Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.87%. Accenture's dividend payout ratio is currently 48.89%.

Insider Buying and Selling at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 2,284 shares of the company's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $281.63, for a total value of $643,242.92. Following the completion of the transaction, the chief executive officer now directly owns 9,965 shares in the company, valued at $2,806,442.95. This represents a 18.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO John F. Walsh sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total transaction of $812,500.00. Following the completion of the transaction, the chief operating officer now owns 15,882 shares of the company's stock, valued at approximately $5,161,650. The trade was a 13.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,516 shares of company stock valued at $2,507,366. Insiders own 0.02% of the company's stock.

Analyst Upgrades and Downgrades

ACN has been the topic of several research reports. Piper Sandler lowered their price objective on shares of Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Baird R W upgraded shares of Accenture from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Wall Street Zen cut shares of Accenture from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. BMO Capital Markets lifted their target price on shares of Accenture to $355.00 and gave the stock a "hold" rating in a research report on Wednesday, March 26th. Finally, Morgan Stanley decreased their target price on shares of Accenture from $380.00 to $372.00 and set an "equal weight" rating on the stock in a research report on Monday, March 17th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $382.14.

Accenture Company 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.