Entropy Technologies LP Grows Position in Accenture plc (NYSE:ACN)

Entropy Technologies LP boosted its position in shares of Accenture plc (NYSE:ACN) by 212.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,573 shares of the information technology services provider’s stock after acquiring an additional 4,466 shares during the period. Entropy Technologies LP’s holdings in Accenture were worth $2,312,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Valeo Financial Advisors LLC increased its holdings in shares of Accenture by 13.6% in the 3rd quarter. Valeo Financial Advisors LLC now owns 8,089 shares of the information technology services provider’s stock valued at $2,859,000 after acquiring an additional 969 shares during the last quarter. Octavia Wealth Advisors LLC purchased a new position in Accenture in the third quarter valued at approximately $219,000. Ritholtz Wealth Management lifted its position in shares of Accenture by 17.9% during the 3rd quarter. Ritholtz Wealth Management now owns 5,198 shares of the information technology services provider’s stock worth $1,837,000 after buying an additional 788 shares during the last quarter. HCR Wealth Advisors grew its position in shares of Accenture by 7.4% in the 3rd quarter. HCR Wealth Advisors now owns 948 shares of the information technology services provider’s stock valued at $335,000 after buying an additional 65 shares during the last quarter. Finally, InTrack Investment Management Inc raised its stake in Accenture by 49.3% during the 3rd quarter. InTrack Investment Management Inc now owns 2,519 shares of the information technology services provider’s stock worth $890,000 after acquiring an additional 832 shares in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Stock Down 0.3 %

ACN stock opened at $386.04 on Monday. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The company has a market cap of $241.58 billion, a P/E ratio of 32.39, a P/E/G ratio of 3.44 and a beta of 1.24. The company’s 50-day moving average price is $362.30 and its 200 day moving average price is $352.18.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.16. The firm had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. Accenture’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the business posted $3.27 EPS. On average, research analysts expect 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, February 14th. Shareholders of record on Thursday, January 16th will be issued a dividend of $1.48 per share. The ex-dividend date is Thursday, January 16th. This represents a $5.92 annualized dividend and a yield of 1.53%. Accenture’s dividend payout ratio (DPR) is currently 49.66%.

Analysts Set New Price Targets

ACN has been the topic of several research reports. Jefferies Financial Group dropped their price objective on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. BMO Capital Markets boosted their price objective on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. BNP Paribas lowered shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price on the stock. in a research report on Wednesday, October 30th. Robert W. Baird reiterated a “neutral” rating and issued a $370.00 price target on shares of Accenture in a research report on Tuesday, December 3rd. Finally, The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and upped their target price for the company from $370.00 to $420.00 in a report on Friday, December 6th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Accenture currently has a consensus rating of “Moderate Buy” and a consensus price target of $387.22.

Insider Buying and Selling at Accenture

In related news, CFO Angie Y. Park sold 685 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $354.38, for a total transaction of $242,750.30. Following the sale, the chief financial officer now owns 8,674 shares of the company’s stock, valued at $3,073,892.12. This trade represents a 7.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Angela Beatty sold 375 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the transaction, the insider now directly owns 5,149 shares of the company’s stock, valued at $1,845,916.50. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock valued at $8,316,190 over the last quarter. Corporate insiders own 0.02% of the company’s stock.

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.