Chancellor Financial Group WB LP Invests $381,000 in Accenture plc (NYSE:ACN)

Chancellor Financial Group WB LP acquired a new position in shares of Accenture plc (NYSE:ACN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,082 shares of the information technology services provider's stock, valued at approximately $381,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. boosted its position in Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider's stock worth $28,000 after purchasing an additional 28 shares during the period. Kohmann Bosshard Financial Services LLC bought a new position in Accenture during the fourth quarter worth $30,000. Mpwm Advisory Solutions LLC bought a new position in Accenture during the fourth quarter worth $30,000. POM Investment Strategies LLC boosted its position in Accenture by 64.2% during the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider's stock worth $31,000 after purchasing an additional 34 shares during the period. Finally, Park Square Financial Group LLC bought a new stake in shares of Accenture in the fourth quarter valued at about $31,000. 75.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

ACN has been the subject of a number of recent research reports. Piper Sandler reduced their target price on shares of Accenture from $364.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Wall Street Zen cut shares of Accenture from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. 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 research report on Monday, March 17th. Barclays reduced their target price on shares of Accenture from $415.00 to $390.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Finally, Mizuho reduced their target price on shares of Accenture from $428.00 to $398.00 and set an "outperform" rating for the company in a research report on Wednesday, March 19th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $382.14.

Accenture Price Performance

Shares of ACN stock traded down $1.02 on Friday, reaching $316.71. The company had a trading volume of 4,012,185 shares, compared to its average volume of 2,988,275. The stock has a market capitalization of $198.36 billion, a PE ratio of 26.57, a price-to-earnings-growth ratio of 3.23 and a beta of 1.35. 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 plc has a one year low of $275.01 and a one year high of $398.35. The business's 50-day moving average is $302.48 and its 200 day moving average is $339.04.

Accenture (NYSE:ACN - Get Free Report) last posted its earnings results 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 net margin of 11.41% and a return on equity of 26.91%. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.77 earnings per share. Equities research analysts forecast that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 10th were issued a $1.48 dividend. The ex-dividend date of this dividend 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 (DPR) is presently 48.89%.

Insider Activity at Accenture

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

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.