MassMutual Private Wealth & Trust FSB Purchases 1,821 Shares of Accenture plc (NYSE:ACN)

MassMutual Private Wealth & Trust FSB grew its stake in shares of Accenture plc (NYSE:ACN - Free Report) by 3.3% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 57,278 shares of the information technology services provider's stock after acquiring an additional 1,821 shares during the quarter. MassMutual Private Wealth & Trust FSB's holdings in Accenture were worth $17,873,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Davidson Trust Co. raised its holdings in shares of Accenture by 7.4% during the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider's stock worth $812,000 after buying an additional 158 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Accenture by 37.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,094 shares of the information technology services provider's stock worth $1,088,000 after buying an additional 843 shares in the last quarter. SteelPeak Wealth LLC increased its holdings in Accenture by 127.1% in the 4th quarter. SteelPeak Wealth LLC now owns 2,323 shares of the information technology services provider's stock worth $817,000 after purchasing an additional 1,300 shares in the last quarter. Capital Research Global Investors increased its holdings in Accenture by 16.8% in the 4th 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 in the last quarter. Finally, Brentview Investment Management LLC acquired a new position in Accenture in the 4th quarter worth about $4,089,000. 75.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, 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 value of $47,641.10. Following the completion of the transaction, the insider now directly owns 5,364 shares in the company, valued at approximately $1,512,111.60. The trade was a 3.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John F. Walsh sold 2,500 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total value of $812,500.00. Following 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. Insiders sold 8,516 shares of company stock valued at $2,507,366 over the last ninety days. 0.02% of the stock is currently owned by insiders.

Accenture Stock Performance

Shares of ACN traded down $4.04 on Monday, reaching $312.78. 877,494 shares of the company's stock traded hands, compared to its average volume of 2,964,423. 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 stock has a market cap of $195.91 billion, a PE ratio of 26.25, a PEG ratio of 3.23 and a beta of 1.35. The stock's 50 day simple moving average is $302.63 and its two-hundred day simple moving average is $338.35. Accenture plc has a 52-week low of $275.01 and a 52-week high of $398.35.

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 analysts' consensus estimates of $2.81 by $0.01. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $16.70 billion during the quarter, compared to the consensus estimate of $16.64 billion. During the same period last year, the business posted $2.77 earnings per share. Accenture's revenue was up 5.7% on a year-over-year basis. On average, analysts forecast that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th were given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Thursday, April 10th. Accenture's dividend payout ratio is currently 48.89%.

Analyst Ratings Changes

ACN has been the topic of a number of analyst reports. Royal Bank of Canada reduced their price target on Accenture from $399.00 to $392.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Morgan Stanley cut their target price on Accenture from $380.00 to $372.00 and set an "equal weight" rating on the stock in a research report on Monday, March 17th. Baird R W upgraded Accenture from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Robert W. Baird upgraded Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 price target on the stock in a report on Monday, March 17th. Finally, Barclays cut their price target on Accenture from $415.00 to $390.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target 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.