Mill Creek Capital Advisors LLC Has $732,000 Stock Position in Accenture plc (NYSE:ACN)

Mill Creek Capital Advisors LLC raised its position in shares of Accenture plc (NYSE:ACN) by 3.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,081 shares of the information technology services provider’s stock after buying an additional 65 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in Accenture were worth $732,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Ritholtz Wealth Management grew its holdings in shares of Accenture by 17.9% during the third quarter. Ritholtz Wealth Management now owns 5,198 shares of the information technology services provider’s stock valued at $1,837,000 after buying an additional 788 shares in the last quarter. Willis Investment Counsel grew its stake in Accenture by 0.4% during the 3rd quarter. Willis Investment Counsel now owns 115,013 shares of the information technology services provider’s stock valued at $40,655,000 after acquiring an additional 486 shares in the last quarter. Smith Chas P & Associates PA Cpas increased its holdings in shares of Accenture by 2.4% in the 3rd quarter. Smith Chas P & Associates PA Cpas now owns 108,319 shares of the information technology services provider’s stock valued at $38,289,000 after purchasing an additional 2,575 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Accenture by 3.0% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 6,984 shares of the information technology services provider’s stock worth $2,469,000 after purchasing an additional 201 shares during the period. Finally, Paladin Wealth LLC purchased a new position in Accenture during the third quarter valued at approximately $160,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ACN has been the subject of a number of research reports. BNP Paribas lowered shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a research note on Wednesday, October 30th. UBS Group boosted their target price on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a report on Wednesday, January 8th. Robert W. Baird reaffirmed a “neutral” rating and set a $370.00 price objective on shares of Accenture in a research report on Tuesday, December 3rd. Finally, StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $387.22.

Accenture Stock Up 0.2 %

Shares of ACN opened at $386.72 on Tuesday. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. The firm has a market capitalization of $242.00 billion, a P/E ratio of 32.44, a P/E/G ratio of 3.44 and a beta of 1.24. The company has a 50-day simple moving average of $362.30 and a 200-day simple moving average of $352.34. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.16. The company had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. Accenture’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.27 EPS. On average, equities research analysts expect that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, January 16th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $5.92 dividend on an annualized basis and a yield of 1.53%. Accenture’s payout ratio is currently 49.66%.

Insiders Place Their Bets

In other news, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the transaction, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at $4,677,625.26. The trade was a 42.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Angela Beatty sold 375 shares of Accenture stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the transaction, the insider now owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock worth $8,316,190 over the last quarter. Company insiders own 0.02% of the company’s stock.

About Accenture

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.