Y Intercept Hong Kong Ltd Buys 11,851 Shares of Accenture PLC (NYSE:ACN)

Y Intercept Hong Kong Ltd lifted its holdings in shares of Accenture PLC (NYSE:ACN - Free Report) by 1,191.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,846 shares of the information technology services provider's stock after buying an additional 11,851 shares during the period. Y Intercept Hong Kong Ltd's holdings in Accenture were worth $4,008,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mpwm Advisory Solutions LLC acquired a new position in shares of Accenture during the fourth quarter worth approximately $30,000. Park Square Financial Group LLC acquired a new position in shares of Accenture during the fourth quarter worth approximately $31,000. Inlight Wealth Management LLC acquired a new position in shares of Accenture during the first quarter worth approximately $32,000. Capital A Wealth Management LLC acquired a new position in shares of Accenture during the fourth quarter worth approximately $34,000. Finally, Mountain Hill Investment Partners Corp. acquired a new stake in Accenture in the fourth quarter worth approximately $35,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ACN shares. Guggenheim cut their target price on Accenture from $360.00 to $335.00 and set a "buy" rating for the company in a research report on Monday, June 23rd. Benchmark restated a "mixed" rating on shares of Accenture in a research report on Friday, June 20th. BMO Capital Markets cut their target price on Accenture from $355.00 to $325.00 and set a "market perform" rating for the company in a research report on Monday, June 23rd. Evercore ISI started coverage on Accenture in a research report on Thursday, July 17th. They issued an "outperform" rating and a $330.00 target price for the company. Finally, Barclays cut their target price on Accenture from $390.00 to $360.00 and set an "overweight" rating for the company in a research report on Monday, June 23rd. Eight 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 company's stock. According to data from MarketBeat.com, Accenture has an average rating of "Moderate Buy" and an average target price of $365.43.

Insider Buying and Selling at Accenture

In other Accenture news, insider Angela Beatty sold 203 shares of the stock in a transaction on Friday, July 11th. The shares were sold at an average price of $282.34, for a total transaction of $57,315.02. Following the transaction, the insider directly owned 5,249 shares of the company's stock, valued at $1,482,002.66. This represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 2,251 shares of the stock in a transaction on Friday, July 11th. The stock was sold at an average price of $282.45, for a total transaction of $635,794.95. Following the transaction, the chief executive officer directly owned 8,109 shares in the company, valued at $2,290,387.05. The trade was a 21.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,454 shares of company stock valued at $1,646,780. Corporate insiders own 0.02% of the company's stock.

Accenture Stock Up 0.7%

Shares of NYSE ACN traded up $1.91 during mid-day trading on Friday, reaching $283.62. The company had a trading volume of 911,055 shares, compared to its average volume of 3,352,020. Accenture PLC has a twelve month low of $273.19 and a twelve month high of $398.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a market capitalization of $177.64 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 2.71 and a beta of 1.29. The stock's 50 day moving average is $303.28 and its 200-day moving average is $322.87.

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

Accenture Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders 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 yield of 2.09%. The ex-dividend date is Thursday, July 10th. Accenture's payout ratio is 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.