Mutual of America Capital Management LLC Trims Stake in Accenture plc (NYSE:ACN)

Mutual of America Capital Management LLC reduced its stake in Accenture plc (NYSE:ACN - Free Report) by 4.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 83,984 shares of the information technology services provider's stock after selling 4,283 shares during the quarter. Mutual of America Capital Management LLC's holdings in Accenture were worth $29,471,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Chilton Capital Management LLC raised its position in Accenture by 180.0% in the 4th quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider's stock valued at $25,000 after buying an additional 45 shares during the last quarter. Halpern Financial Inc. purchased a new stake in shares of Accenture during the 4th quarter valued at $31,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Accenture during the 1st quarter valued at $28,000. BluePath Capital Management LLC purchased a new stake in shares of Accenture during the 3rd quarter valued at $31,000. Finally, RVW Wealth LLC purchased a new stake in shares of Accenture during the 3rd quarter valued at $33,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ACN has been the subject of a number of recent research reports. Susquehanna restated a "neutral" rating and issued a $360.00 target price (down previously from $400.00) on shares of Accenture in a research report on Thursday, March 21st. Bank of America boosted their target price on Accenture from $379.00 to $419.00 and gave the stock a "buy" rating in a research report on Thursday, March 7th. Piper Sandler boosted their target price on Accenture from $335.00 to $394.00 and gave the stock a "neutral" rating in a research report on Monday, March 18th. Guggenheim initiated coverage on Accenture in a research report on Tuesday, March 19th. They issued a "buy" rating and a $425.00 target price for the company. Finally, Mizuho restated a "buy" rating and issued a $398.00 target price (down previously from $426.00) on shares of Accenture in a research report on Friday, March 22nd. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Accenture presently has a consensus rating of "Moderate Buy" and a consensus price target of $387.00.

Accenture Stock Down 3.0 %

Shares of ACN traded down $9.72 during mid-day trading on Friday, hitting $315.47. 4,207,383 shares of the company's stock traded hands, compared to its average volume of 2,346,677. Accenture plc has a 1 year low of $261.68 and a 1 year high of $387.51. The firm has a market capitalization of $211.60 billion, a P/E ratio of 28.44, a PEG ratio of 3.07 and a beta of 1.19. The business's 50-day moving average price is $361.70 and its 200-day moving average price is $341.61.

Accenture (NYSE:ACN - Get Free Report) last released its quarterly earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.11. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $15.85 billion. During the same period in the previous year, the company posted $2.69 earnings per share. The firm's revenue was down .1% on a year-over-year basis. Sell-side analysts anticipate that Accenture plc will post 12.1 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 11th will be given a dividend of $1.29 per share. The ex-dividend date is Wednesday, April 10th. This represents a $5.16 annualized dividend and a dividend yield of 1.64%. Accenture's dividend payout ratio is presently 46.78%.

Insider Activity at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 3,010 shares of the business's stock in a transaction on Friday, January 26th. The stock was sold at an average price of $371.80, for a total value of $1,119,118.00. Following the sale, the chief accounting officer now directly owns 9,193 shares of the company's stock, valued at $3,417,957.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Accenture news, CAO Melissa A. Burgum sold 3,010 shares of the business's stock in a transaction on Friday, January 26th. The stock was sold at an average price of $371.80, for a total value of $1,119,118.00. Following the sale, the chief accounting officer now directly owns 9,193 shares of the company's stock, valued at $3,417,957.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kathleen R. Mcclure sold 851 shares of the business's stock in a transaction on Monday, January 29th. The stock was sold at an average price of $371.77, for a total value of $316,376.27. Following the completion of the sale, the chief financial officer now directly owns 50,737 shares in the company, valued at $18,862,494.49. The disclosure for this sale can be found here. Insiders have sold 31,000 shares of company stock worth $11,146,998 over the last ninety days. 0.07% of the stock is owned by corporate insiders.

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.