Accenture plc (NYSE:ACN) Shares Sold by Tucker Asset Management LLC

Tucker Asset Management LLC cut its stake in Accenture plc (NYSE:ACN) by 18.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,128 shares of the information technology services provider’s stock after selling 255 shares during the quarter. Tucker Asset Management LLC’s holdings in Accenture were worth $397,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Morse Asset Management Inc acquired a new position in shares of Accenture in the 3rd quarter valued at $25,000. FPC Investment Advisory Inc. increased its position in shares of Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after acquiring an additional 28 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Accenture during the 4th quarter valued at approximately $30,000. POM Investment Strategies LLC increased its position in shares of Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 34 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in Accenture during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Price Performance

Accenture stock opened at $304.32 on Friday. Accenture plc has a one year low of $278.69 and a one year high of $398.35. The business has a fifty day moving average price of $354.96 and a 200-day moving average price of $355.97. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market capitalization of $190.44 billion, a P/E ratio of 25.53, a PEG ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.01. The business had revenue of $16.70 billion for the quarter, compared to analysts’ expectations of $16.64 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the business earned $2.77 earnings per share. As a group, equities research analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 10th will be issued a $1.48 dividend. The ex-dividend date is Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.95%. Accenture’s payout ratio is currently 48.89%.

Analyst Upgrades and Downgrades

ACN has been the subject of several analyst reports. Piper Sandler reduced their price target on shares of Accenture from $396.00 to $364.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $370.00 to $420.00 in a report on Friday, December 6th. Guggenheim cut their price objective on Accenture from $400.00 to $395.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Royal Bank of Canada cut their price target on shares of Accenture from $399.00 to $392.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Finally, Jefferies Financial Group reduced their price target on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $378.23.

Insider Activity

In related news, CAO Melissa A. Burgum sold 1,487 shares of Accenture stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the transaction, the chief accounting officer now directly owns 9,247 shares of the company’s stock, valued at $3,278,431.38. This trade represents a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Angie Y. Park sold 685 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 8,674 shares of the company’s stock, valued at approximately $3,073,892.12. This represents a 7.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,905 shares of company stock valued at $8,181,753 over the last ninety days. 0.02% of the stock is currently 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.