Silvercrest Asset Management Group LLC reduced its position in Accenture plc (NYSE:ACN - Free Report) by 8.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,483 shares of the information technology services provider's stock after selling 5,719 shares during the quarter. Silvercrest Asset Management Group LLC's holdings in Accenture were worth $20,926,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in ACN. FPC Investment Advisory Inc. raised its stake in Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider's stock valued at $28,000 after purchasing an additional 28 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in Accenture in the 4th quarter valued at $30,000. POM Investment Strategies LLC lifted its position in Accenture by 64.2% during the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider's stock worth $31,000 after buying an additional 34 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in Accenture during the fourth quarter worth approximately $34,000. Finally, Promus Capital LLC purchased a new position in Accenture during the fourth quarter worth approximately $34,000. 75.14% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Accenture
In other Accenture news, insider Angela Beatty sold 169 shares of the 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 sale, the insider now owns 5,364 shares in the company, valued at approximately $1,512,111.60. This represents a 3.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Julie Spellman Sweet sold 2,284 shares of the stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.63, for a total value of $643,242.92. Following the sale, the chief executive officer now owns 9,965 shares in the company, valued at approximately $2,806,442.95. This trade represents a 18.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,516 shares of company stock valued at $2,507,366 in the last ninety days. Corporate insiders own 0.02% of the company's stock.
Accenture Stock Performance
Shares of NYSE ACN traded up $0.31 during trading hours on Tuesday, reaching $319.70. The stock had a trading volume of 2,928,432 shares, compared to its average volume of 2,987,872. The firm has a market cap of $200.24 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 3.23 and a beta of 1.35. Accenture plc has a fifty-two week low of $275.01 and a fifty-two week high of $398.35. The firm has a 50-day moving average of $302.50 and a 200-day moving average of $340.97. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17.
Accenture (NYSE:ACN - Get Free Report) last posted its quarterly earnings data 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. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm had revenue of $16.70 billion during the quarter, compared to the consensus estimate of $16.64 billion. During the same period in the prior year, the business earned $2.77 EPS. The firm's revenue was up 5.7% compared to the same quarter last year. Equities research analysts predict that Accenture plc will post 12.73 earnings per share for the current year.
Accenture Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 10th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, April 10th. Accenture's payout ratio is currently 48.89%.
Analysts Set New Price Targets
A number of brokerages recently commented on ACN. Piper Sandler reduced their price objective on Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Robert W. Baird upgraded Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 price objective on the stock in a research report on Monday, March 17th. Mizuho reduced their price objective on Accenture from $428.00 to $398.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 19th. StockNews.com downgraded Accenture from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Finally, Jefferies Financial Group reduced their target price on Accenture from $385.00 to $355.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Accenture has an average rating of "Moderate Buy" and a consensus price target of $381.76.
Read Our Latest Analysis on ACN
About Accenture
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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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