Tandem Investment Advisors Inc. Sells 28,460 Shares of Accenture PLC $ACN

Key Points

• Tandem Investment Advisors cut its Accenture stake by 6.9% in the fourth quarter, selling 28,460 shares and leaving it with 384,734 shares worth about $103.2 million.
• Accenture reported better-than-expected quarterly results, posting EPS of $2.93 versus $2.84 expected and revenue of $18.04 billion, up 7.8% year over year.
• The company paid a quarterly dividend of $1.63 per share, equal to a 3.6% annualized yield, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of $274.50.

Tandem Investment Advisors Inc. reduced its stake in shares of Accenture PLC (NYSE:ACN - Free Report) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 384,734 shares of the information technology services provider's stock after selling 28,460 shares during the quarter. Accenture comprises about 3.8% of Tandem Investment Advisors Inc.'s portfolio, making the stock its 12th biggest position. Tandem Investment Advisors Inc. owned 0.06% of Accenture worth $103,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of ACN. Board of the Pension Protection Fund bought a new stake in shares of Accenture during the fourth quarter worth $27,000. Laurel Wealth Advisors LLC acquired a new position in Accenture during the 4th quarter valued at about $27,000. Triumph Capital Management bought a new position in shares of Accenture in the 3rd quarter valued at about $26,000. Private Wealth Management Group LLC raised its stake in shares of Accenture by 96.4% during the fourth quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider's stock worth $29,000 after buying an additional 53 shares during the last quarter. Finally, Steph & Co. lifted its holdings in Accenture by 107.5% in the fourth quarter. Steph & Co. now owns 110 shares of the information technology services provider's stock valued at $30,000 after buying an additional 57 shares during the period. Institutional investors and hedge funds own 75.14% of the company's stock.

Accenture Price Performance

NYSE:ACN opened at $179.36 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $187.09 and a 200 day simple moving average of $228.20. Accenture PLC has a 1-year low of $155.82 and a 1-year high of $321.77. The stock has a market capitalization of $119.35 billion, a PE ratio of 14.69, a P/E/G ratio of 1.70 and a beta of 1.08.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 EPS for the quarter, beating analysts' consensus estimates of $2.84 by $0.09. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The company had revenue of $18.04 billion during the quarter, compared to the consensus estimate of $17.80 billion. During the same quarter last year, the firm posted $2.82 EPS. The company's quarterly revenue was up 7.8% on a year-over-year basis. On average, research analysts expect that Accenture PLC will post 13.87 EPS for the current fiscal year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 9th were given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $6.52 annualized dividend and a dividend yield of 3.6%. Accenture's dividend payout ratio is presently 53.40%.

Insider Buying and Selling

In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $177.14, for a total value of $863,026.08. Following the transaction, the chief executive officer directly owned 12,802 shares of the company's stock, valued at $2,267,746.28. This represents a 27.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Mizuho dropped their target price on shares of Accenture from $309.00 to $280.00 and set an "outperform" rating for the company in a research report on Monday, March 23rd. Guggenheim decreased their price objective on Accenture from $275.00 to $250.00 and set a "buy" rating for the company in a research note on Friday, March 20th. Piper Sandler set a $282.00 target price on Accenture in a research note on Thursday, March 5th. Robert W. Baird lowered their price target on Accenture from $330.00 to $265.00 and set an "outperform" rating for the company in a research note on Friday, March 20th. Finally, HSBC dropped their price target on Accenture from $220.00 to $210.00 and set a "hold" rating on the stock in a research note on Tuesday, April 14th. Seventeen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $274.50.

Accenture Profile

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.

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