Nicholson Meyer Capital Management Inc. Invests $1.77 Million in Accenture PLC (NYSE:ACN)

Nicholson Meyer Capital Management Inc. acquired a new position in shares of Accenture PLC (NYSE:ACN - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,677 shares of the information technology services provider's stock, valued at approximately $1,771,000. Accenture comprises 1.6% of Nicholson Meyer Capital Management Inc.'s investment portfolio, making the stock its 15th largest holding.

Other hedge funds also recently made changes to their positions in the company. Visionary Wealth Advisors lifted its holdings in Accenture by 3.5% during the 4th quarter. Visionary Wealth Advisors now owns 778 shares of the information technology services provider's stock worth $274,000 after purchasing an additional 26 shares during the last quarter. Vivaldi Capital Management LP boosted its holdings in Accenture by 3.6% in the 4th quarter. Vivaldi Capital Management LP now owns 782 shares of the information technology services provider's stock valued at $292,000 after purchasing an additional 27 shares during the period. Nemes Rush Group LLC lifted its position in Accenture by 7.5% during the fourth quarter. Nemes Rush Group LLC now owns 418 shares of the information technology services provider's stock worth $147,000 after purchasing an additional 29 shares during the period. United Community Bank lifted its stake in Accenture by 1.5% during the fourth quarter. United Community Bank now owns 2,069 shares of the information technology services provider's stock worth $728,000 after purchasing an additional 30 shares during the last quarter. Finally, Tradition Wealth Management LLC boosted its holdings in shares of Accenture by 0.3% in the 4th quarter. Tradition Wealth Management LLC now owns 10,981 shares of the information technology services provider's stock valued at $3,863,000 after purchasing an additional 30 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Stock Down 0.2%

Shares of ACN traded down $0.62 during trading hours on Wednesday, reaching $302.00. 2,748,416 shares of the stock traded hands, compared to its average volume of 2,902,731. Accenture PLC has a 52 week low of $273.19 and a 52 week high of $398.35. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $309.06 and a 200 day simple moving average of $330.41. The company has a market cap of $189.15 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 2.84 and a beta of 1.29.

Accenture (NYSE:ACN - Get Free Report) last released its earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.17. The company had revenue of $17.73 billion during the quarter, compared to analyst estimates of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%. Accenture's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.13 earnings per share. On average, equities analysts forecast that Accenture PLC will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 10th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, July 10th. Accenture's dividend payout ratio is presently 47.13%.

Analysts Set New Price Targets

ACN has been the topic of several research 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 report on Friday, March 21st. Argus set a $370.00 price target on Accenture in a report on Tuesday, June 24th. Mizuho set a $348.00 target price on Accenture and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. Wall Street Zen lowered Accenture from a "buy" rating to a "hold" rating in a research note on Tuesday, March 11th. Finally, Piper Sandler reduced their price target on shares of Accenture from $364.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $370.71.

Insider Activity at Accenture

In related news, insider Angela Beatty sold 169 shares of the firm's stock in a transaction dated 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 sale, the insider owned 5,364 shares in the company, valued at approximately $1,512,111.60. This trade represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 2,284 shares of Accenture 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 completion of the sale, the chief executive officer directly owned 9,965 shares in the company, valued at $2,806,442.95. This trade represents a 18.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,516 shares of company stock valued at $2,507,366 over the last quarter. Corporate insiders own 0.02% of the company's stock.

Accenture 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.