TruNorth Capital Management LLC Acquires Shares of 1,334 Accenture PLC (NYSE:ACN)

TruNorth Capital Management LLC acquired a new stake in shares of Accenture PLC (NYSE:ACN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,334 shares of the information technology services provider's stock, valued at approximately $416,000.

Several other institutional investors have also added to or reduced their stakes in ACN. Norges Bank bought a new stake in shares of Accenture during the fourth quarter worth $2,351,683,000. GAMMA Investing LLC grew its stake in shares of Accenture by 30,256.8% during the first quarter. GAMMA Investing LLC now owns 3,421,519 shares of the information technology services provider's stock worth $1,067,651,000 after buying an additional 3,410,248 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Accenture by 22.8% during the fourth 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 buying an additional 2,260,740 shares during the last quarter. Capital Research Global Investors grew its stake 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 buying an additional 1,770,024 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Accenture by 10.7% during the fourth quarter. Northern Trust Corp now owns 7,582,344 shares of the information technology services provider's stock worth $2,667,393,000 after buying an additional 732,769 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Accenture

In other news, COO John F. Walsh sold 2,500 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $325.00, for a total transaction of $812,500.00. Following the transaction, the chief operating officer owned 15,882 shares in the company, valued at approximately $5,161,650. This represents a 13.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.02% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Mizuho set a $348.00 target price on shares of Accenture and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. Piper Sandler decreased their target price on shares of Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. boosted their price objective on shares of Accenture from $349.00 to $353.00 and gave the stock an "overweight" rating in a research note on Monday, June 16th. Baird R W raised shares of Accenture from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Argus set a $370.00 price objective on shares of Accenture in a research note on Tuesday, June 24th. 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.com, Accenture has a consensus rating of "Moderate Buy" and an average target price of $370.71.

Accenture Stock Performance

Shares of ACN opened at $281.01 on Friday. 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 market capitalization of $176.00 billion, a P/E ratio of 22.37, a price-to-earnings-growth ratio of 2.64 and a beta of 1.29. The firm's fifty day simple moving average is $309.00 and its two-hundred day simple moving average is $327.12. Accenture PLC has a 12 month low of $273.19 and a 12 month high of $398.35.

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

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 10th will be issued a dividend of $1.48 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $5.92 annualized dividend and a dividend yield of 2.11%. Accenture's dividend payout ratio is currently 47.13%.

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.

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