Inscription Capital LLC Makes New Investment in Accenture plc (NYSE:ACN)

Inscription Capital LLC purchased a new stake in Accenture plc (NYSE:ACN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,582 shares of the information technology services provider's stock, valued at approximately $2,628,000.

A number of other institutional investors have also added to or reduced their stakes in ACN. Norges Bank acquired a new position in shares of Accenture during the fourth quarter worth $2,351,683,000. GAMMA Investing LLC grew its position in Accenture by 30,256.8% during the 1st quarter. GAMMA Investing LLC now owns 3,421,519 shares of the information technology services provider's stock worth $1,067,651,000 after acquiring an additional 3,410,248 shares during the last quarter. Wellington Management Group LLP increased its holdings in Accenture by 22.8% in the 4th quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider's stock worth $4,283,225,000 after purchasing an additional 2,260,740 shares in the last quarter. Raymond James Financial Inc. bought a new position in Accenture in the fourth quarter valued at about $666,495,000. Finally, Capital Research Global Investors grew its holdings in shares of Accenture by 16.8% during the fourth quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider's stock worth $4,325,526,000 after purchasing an additional 1,770,024 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Price Performance

Shares of NYSE ACN opened at $314.12 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm's 50-day moving average price is $306.16 and its 200-day moving average price is $335.06. The firm has a market capitalization of $196.74 billion, a P/E ratio of 26.35, a P/E/G ratio of 3.23 and a beta of 1.33. Accenture plc has a 1-year low of $275.01 and a 1-year high of $398.35.

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

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors 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 yield of 1.88%. Accenture's payout ratio is 48.89%.

Insider Buying and Selling at Accenture

In other Accenture news, insider Angela Beatty sold 169 shares of Accenture 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 transaction, the insider now owns 5,364 shares of the company's stock, valued at $1,512,111.60. This trade represents a 3.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John F. Walsh sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $325.00, for a total value of $812,500.00. Following the completion of the transaction, the chief operating officer now directly owns 15,882 shares of the company's stock, valued at approximately $5,161,650. This represents a 13.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,516 shares of company stock worth $2,507,366. Insiders own 0.02% of the company's stock.

Wall Street Analyst Weigh In

ACN has been the subject of a number of research reports. Guggenheim dropped their price objective on shares of Accenture from $400.00 to $395.00 and set a "buy" rating for the company in a report on Friday, March 21st. Royal Bank of Canada cut their price target on shares of Accenture from $399.00 to $392.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Wall Street Zen downgraded Accenture from a "buy" rating to a "hold" rating in a report on Tuesday, March 11th. Stifel Nicolaus cut their target price on Accenture from $390.00 to $380.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Finally, Baird R W raised Accenture from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $380.00.

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.

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