Trueblood Wealth Management LLC Acquires New Holdings in Accenture plc (NYSE:ACN)

Trueblood Wealth Management LLC acquired a new stake in shares of Accenture plc (NYSE:ACN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,085 shares of the information technology services provider’s stock, valued at approximately $3,539,000. Accenture accounts for approximately 2.2% of Trueblood Wealth Management LLC’s holdings, making the stock its 4th biggest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new position in Accenture during the first quarter valued at $28,000. BluePath Capital Management LLC acquired a new position in Accenture during the third quarter valued at $31,000. RVW Wealth LLC acquired a new position in Accenture during the third quarter valued at $33,000. Tyler Stone Wealth Management acquired a new position in Accenture during the second quarter valued at $35,000. Finally, Canton Hathaway LLC acquired a new position in Accenture during the third quarter valued at $37,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, General Counsel Joel Unruch sold 4,333 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $371.83, for a total transaction of $1,611,139.39. Following the completion of the transaction, the general counsel now directly owns 34,795 shares of the company’s stock, valued at approximately $12,937,824.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Accenture news, COO John F. Walsh sold 8,000 shares of Accenture 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 completion of the sale, the chief operating officer now directly owns 17,877 shares of the company’s stock, valued at approximately $5,937,488.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Joel Unruch sold 4,333 shares of Accenture stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $371.83, for a total value of $1,611,139.39. Following the sale, the general counsel now directly owns 34,795 shares of the company’s stock, valued at $12,937,824.85. The disclosure for this sale can be found here. Insiders sold 31,000 shares of company stock valued at $11,146,998 in the last three months. 0.07% of the stock is owned by corporate insiders.

Accenture Stock Performance

Shares of NYSE ACN traded up $4.57 during trading on Wednesday, reaching $340.96. The stock had a trading volume of 3,294,248 shares, compared to its average volume of 2,281,087. Accenture plc has a fifty-two week low of $261.68 and a fifty-two week high of $387.51. The business’s 50-day moving average price is $369.38 and its 200-day moving average price is $340.37. The company has a market cap of $213.89 billion, a P/E ratio of 30.91, a PEG ratio of 3.16 and a beta of 1.20.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.11. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The business had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.85 billion. During the same period in the previous year, the firm posted $2.69 earnings per share. The company’s revenue was down .1% on a year-over-year basis. Analysts forecast that Accenture plc will post 12.1 EPS for the current fiscal year.

Accenture Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 11th will be paid a dividend of $1.29 per share. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a $5.16 annualized dividend and a yield of 1.51%. Accenture’s payout ratio is 46.78%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Mizuho restated a “buy” rating and set a $398.00 target price (down from $426.00) on shares of Accenture in a research report on Friday, March 22nd. Robert W. Baird upped their price objective on shares of Accenture from $364.00 to $375.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Piper Sandler upped their price objective on shares of Accenture from $335.00 to $394.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. Royal Bank of Canada raised their target price on Accenture from $374.00 to $381.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Finally, BNP Paribas upgraded Accenture from a “neutral” rating to an “outperform” rating and set a $440.00 target price on the stock in a research report on Wednesday, January 17th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $387.00.

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.