TFR Capital LLC. Buys New Stake in Accenture plc (NYSE:ACN)

TFR Capital LLC. acquired a new position in shares of Accenture plc (NYSE:ACN - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 5,094 shares of the information technology services provider's stock, valued at approximately $1,792,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Accenture by 36.2% in the 4th quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider's stock valued at $6,486,000 after acquiring an additional 4,905 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Accenture by 10.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 558 shares of the information technology services provider's stock worth $196,000 after buying an additional 54 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Accenture in the 4th quarter valued at about $42,000. Flagship Harbor Advisors LLC raised its position in shares of Accenture by 23.0% during the 4th quarter. Flagship Harbor Advisors LLC now owns 4,107 shares of the information technology services provider's stock worth $1,445,000 after buying an additional 767 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of Accenture by 6.7% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,187 shares of the information technology services provider's stock worth $3,232,000 after buying an additional 578 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Barclays lowered their price objective on shares of Accenture from $415.00 to $390.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Royal Bank of Canada lowered 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. BMO Capital Markets increased their price objective on shares of Accenture to $355.00 and gave the stock a "hold" rating in a report on Wednesday, March 26th. Baird R W upgraded shares of Accenture from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Wall Street Zen downgraded shares of Accenture from a "buy" rating to a "hold" rating in a report on Tuesday, March 11th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $382.14.

Accenture Stock Performance

ACN stock traded down $1.02 during trading on Friday, reaching $316.71. 4,012,185 shares of the company's stock were exchanged, compared to its average volume of 2,988,259. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market cap of $198.36 billion, a PE ratio of 26.57, a P/E/G ratio of 3.23 and a beta of 1.35. The company's fifty day moving average price is $302.63 and its 200-day moving average price is $338.74. 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 issued its quarterly earnings data 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 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 firm posted $2.77 EPS. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. On average, research analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th were given a $1.48 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.87%. Accenture's dividend payout ratio is currently 48.89%.

Insider Transactions at Accenture

In other news, COO John F. Walsh sold 2,500 shares of the stock in a transaction on Tuesday, May 13th. The stock was 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 in the company, valued at approximately $5,161,650. This represents a 13.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $47,641.10. Following the completion of the sale, the insider now owns 5,364 shares of the company's stock, valued at approximately $1,512,111.60. This represents a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,516 shares of company stock worth $2,507,366 in the last three months. 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.