AllGen Financial Advisors Inc. Decreases Stake in Accenture plc (NYSE:ACN)

AllGen Financial Advisors Inc. decreased its stake in Accenture plc (NYSE:ACN) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,334 shares of the information technology services provider’s stock after selling 84 shares during the period. Accenture makes up 1.7% of AllGen Financial Advisors Inc.’s investment portfolio, making the stock its 15th largest holding. AllGen Financial Advisors Inc.’s holdings in Accenture were worth $3,275,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ACN. Brave Asset Management Inc. lifted its position in shares of Accenture by 2.8% during the fourth quarter. Brave Asset Management Inc. now owns 1,028 shares of the information technology services provider’s stock worth $361,000 after purchasing an additional 28 shares during the last quarter. Addison Advisors LLC boosted its holdings in Accenture by 0.9% in the fourth quarter. Addison Advisors LLC now owns 3,181 shares of the information technology services provider’s stock worth $1,116,000 after purchasing an additional 28 shares during the period. Searle & CO. raised its holdings in shares of Accenture by 3.6% during 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. KMG Fiduciary Partners LLC lifted its position in shares of Accenture by 4.0% in the 4th quarter. KMG Fiduciary Partners LLC now owns 760 shares of the information technology services provider’s stock worth $267,000 after buying an additional 29 shares during the last quarter. Finally, Carr Financial Group Corp boosted its holdings in shares of Accenture by 2.4% in the 4th quarter. Carr Financial Group Corp now owns 1,245 shares of the information technology services provider’s stock valued at $437,000 after buying an additional 29 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on ACN. TD Cowen cut their target price on shares of Accenture from $363.00 to $350.00 and set a “market perform” rating on the stock in a report on Friday, March 22nd. BNP Paribas upgraded Accenture from a “neutral” rating to an “outperform” rating and set a $440.00 price objective for the company in a research report on Wednesday, January 17th. Citigroup dropped their target price on Accenture from $430.00 to $400.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. StockNews.com downgraded shares of Accenture from a “buy” rating to a “hold” rating in a report on Saturday, April 27th. Finally, BMO Capital Markets cut their price objective on shares of Accenture from $385.00 to $375.00 and set a “market perform” rating on the stock in a research report on Friday, March 22nd. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Accenture has an average rating of “Moderate Buy” and a consensus target price of $387.00.

Accenture Price Performance

Shares of Accenture stock traded up $3.37 during trading on Friday, hitting $303.71. The stock had a trading volume of 2,767,141 shares, compared to its average volume of 3,150,080. The business has a fifty day moving average of $342.95 and a two-hundred day moving average of $342.23. Accenture plc has a fifty-two week low of $261.68 and a fifty-two week high of $387.51. The firm has a market cap of $203.71 billion, a P/E ratio of 27.53, a PEG ratio of 2.88 and a beta of 1.21.

Accenture (NYSE:ACN) last issued its quarterly earnings results 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 net margin of 10.89% and a return on equity of 28.30%. The company had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.85 billion. During the same period in the prior year, the company earned $2.69 EPS. Accenture’s revenue was down .1% on a year-over-year basis. As a group, research analysts forecast that Accenture plc will post 12.09 earnings per share for the current year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 11th will be given a dividend of $1.29 per share. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.70%. Accenture’s dividend payout ratio (DPR) is presently 46.78%.

Insider Transactions at Accenture

In other news, COO John F. Walsh sold 8,000 shares of the company’s stock in a transaction on 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 $5,937,488.01. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO John F. Walsh sold 8,000 shares of Accenture stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $332.13, for a total value of $2,657,040.00. Following the transaction, the chief operating officer now directly owns 17,877 shares of the company’s stock, valued at $5,937,488.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Manish Sharma sold 1,486 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $370.39, for a total transaction of $550,399.54. Following the completion of the sale, the chief executive officer now owns 4,503 shares of the company’s stock, valued at approximately $1,667,866.17. The disclosure for this sale can be found here. Insiders sold a total of 31,639 shares of company stock valued at $10,276,287 in the last three months. 0.07% of the stock is currently owned by corporate insiders.

Accenture Company 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.