University of Texas Texas AM Investment Management Co. Purchases New Position in Accenture plc (NYSE:ACN)

University of Texas Texas AM Investment Management Co. bought a new stake in Accenture plc (NYSE:ACN - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,234 shares of the information technology services provider's stock, valued at approximately $1,138,000.

Several other large investors also recently added to or reduced their stakes in the business. Visionary Wealth Advisors grew its stake in shares of Accenture by 3.5% in the fourth quarter. Visionary Wealth Advisors now owns 778 shares of the information technology services provider's stock worth $274,000 after acquiring an additional 26 shares during the last quarter. Vivaldi Capital Management LP lifted its position in Accenture by 3.6% in the fourth quarter. Vivaldi Capital Management LP now owns 782 shares of the information technology services provider's stock worth $292,000 after purchasing an additional 27 shares during the period. Newbridge Financial Services Group Inc. boosted its position in shares of Accenture by 5.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider's stock valued at $182,000 after acquiring an additional 28 shares in the last quarter. FPC Investment Advisory Inc. raised its position in Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider's stock worth $28,000 after purchasing an additional 28 shares in the last quarter. Finally, New England Professional Planning Group Inc. lifted its stake in Accenture by 4.6% during the fourth quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider's stock worth $230,000 after purchasing an additional 29 shares during the period. 75.14% of the stock is owned by institutional investors.

Accenture Stock Performance

Shares of ACN opened at $316.22 on Friday. The firm has a market cap of $198.06 billion, a P/E ratio of 26.53, a PEG ratio of 3.23 and a beta of 1.35. Accenture plc has a twelve month low of $275.01 and a twelve month high of $398.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The firm's 50 day moving average price is $302.36 and its two-hundred day moving average price is $340.47.

Accenture (NYSE:ACN - Get Free Report) last released its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.81 by $0.01. The firm had revenue of $16.70 billion for the quarter, compared to analysts' expectations of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.77 EPS. On average, analysts forecast that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

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

Insider Buying and Selling

In other Accenture news, insider Angela Beatty sold 169 shares of the firm's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $281.90, for a total transaction of $47,641.10. Following the transaction, the insider now owns 5,364 shares in the company, valued at $1,512,111.60. This trade represents a 3.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John F. Walsh sold 2,500 shares of the firm'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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,516 shares of company stock worth $2,507,366. Company insiders own 0.02% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Guggenheim reduced their price objective on Accenture from $400.00 to $395.00 and set a "buy" rating on the stock in a research note 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. Piper Sandler dropped their target price on shares of Accenture from $364.00 to $355.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Mizuho lowered their price target on shares of Accenture from $428.00 to $398.00 and set an "outperform" rating for the company in a report on Wednesday, March 19th. Finally, Barclays reduced their price objective on Accenture from $415.00 to $390.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Accenture presently has an average rating of "Moderate Buy" and a consensus price target of $382.14.

About Accenture

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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