Assetmark Inc. Increases Position in Accenture plc (NYSE:ACN)

Assetmark Inc. boosted its holdings in Accenture plc (NYSE:ACNFree Report) by 14.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,033 shares of the information technology services provider’s stock after purchasing an additional 8,895 shares during the period. Assetmark Inc.’s holdings in Accenture were worth $24,926,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Brave Asset Management Inc. grew its holdings in Accenture by 2.8% during the 4th quarter. Brave Asset Management Inc. now owns 1,028 shares of the information technology services provider’s stock worth $361,000 after acquiring an additional 28 shares in the last quarter. Addison Advisors LLC increased its holdings in shares of Accenture by 0.9% in the 4th quarter. Addison Advisors LLC now owns 3,181 shares of the information technology services provider’s stock valued at $1,116,000 after acquiring an additional 28 shares during the last quarter. Searle & CO. boosted its holdings in Accenture by 3.6% in the fourth quarter. Searle & CO. now owns 803 shares of the information technology services provider’s stock worth $282,000 after purchasing an additional 28 shares during the period. Sound View Wealth Advisors Group LLC grew its position in shares of Accenture by 2.1% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,363 shares of the information technology services provider’s stock valued at $478,000 after buying an additional 28 shares during the last quarter. Finally, KMG Fiduciary Partners LLC raised its stake in Accenture by 4.0% during the fourth quarter. KMG Fiduciary Partners LLC now owns 760 shares of the information technology services provider’s stock worth $267,000 after acquiring an additional 29 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Stifel Nicolaus increased their target price on Accenture from $363.00 to $395.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Mizuho reiterated a “buy” rating and issued a $398.00 price objective (down from $426.00) on shares of Accenture in a research report on Friday, March 22nd. Susquehanna restated a “neutral” rating and issued a $360.00 price target (down previously from $400.00) on shares of Accenture in a research note on Thursday, March 21st. Bank of America boosted their price objective on Accenture from $379.00 to $419.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Finally, BMO Capital Markets cut their target price on Accenture from $385.00 to $375.00 and set a “market perform” rating on the stock in a research note on Friday, March 22nd. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $381.67.

View Our Latest Research Report on ACN

Accenture Stock Up 1.0 %

Shares of ACN traded up $3.00 during midday trading on Wednesday, reaching $306.64. 451,124 shares of the stock were exchanged, compared to its average volume of 2,491,209. The company has a market cap of $205.68 billion, a price-to-earnings ratio of 27.53, a P/E/G ratio of 2.90 and a beta of 1.21. The firm has a 50 day simple moving average of $325.68 and a 200-day simple moving average of $342.99. Accenture plc has a 12-month low of $284.90 and a 12-month high of $387.51.

Accenture (NYSE:ACNGet Free Report) last issued its quarterly earnings data on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.11. The business had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.85 billion. Accenture had a net margin of 10.89% and a return on equity of 28.30%. Accenture’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the company earned $2.69 earnings per share. Research analysts expect that Accenture plc will post 12.09 earnings per share for the current fiscal year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Thursday, April 11th were paid a $1.29 dividend. The ex-dividend date was Wednesday, April 10th. This represents a $5.16 annualized dividend and a dividend yield of 1.68%. Accenture’s payout ratio is 46.78%.

Insider Activity at Accenture

In other news, COO John F. Walsh sold 8,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the completion of the transaction, the chief operating officer now directly owns 17,877 shares of the company’s stock, valued at approximately $5,937,488.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Accenture news, CEO Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction on Friday, April 12th. The stock was sold at an average price of $315.91, for a total value of $1,974,437.50. Following the completion of the transaction, the chief executive officer now owns 161,581 shares in the company, valued at approximately $51,045,053.71. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO John F. Walsh sold 8,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the transaction, the chief operating officer now owns 17,877 shares in the company, valued at approximately $5,937,488.01. The disclosure for this sale can be found here. Insiders have sold 28,083 shares of company stock worth $8,959,325 over the last three months. Company insiders own 0.07% of the company’s stock.

Accenture Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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