MONECO Advisors LLC Boosts Holdings in Accenture plc (NYSE:ACN)

MONECO Advisors LLC lifted its holdings in shares of Accenture plc (NYSE:ACN) by 387.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,167 shares of the information technology services provider’s stock after purchasing an additional 6,491 shares during the period. MONECO Advisors LLC’s holdings in Accenture were worth $2,866,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Chilton Capital Management LLC raised its position in Accenture by 180.0% during the 4th quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 45 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in Accenture during the 4th quarter valued at $27,000. Halpern Financial Inc. bought a new position in Accenture in the 4th quarter worth $31,000. Pineridge Advisors LLC purchased a new stake in shares of Accenture in the 4th quarter worth about $35,000. Finally, Laffer Tengler Investments Inc. lifted its holdings in Accenture by 142.9% in the fourth quarter. Laffer Tengler Investments Inc. now owns 102 shares of the information technology services provider’s stock worth $36,000 after buying an additional 60 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Activity

In other Accenture news, CEO Jean-Marc Ollagnier sold 6,250 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the completion of the transaction, the chief executive officer now owns 161,581 shares of the company’s stock, valued at approximately $51,045,053.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO John F. Walsh sold 8,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $332.13, for a total value of $2,657,040.00. Following the completion of the sale, the chief operating officer now directly owns 17,877 shares in the company, valued at $5,937,488.01. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jean-Marc Ollagnier sold 6,250 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the transaction, the chief executive officer now owns 161,581 shares in the company, valued at approximately $51,045,053.71. The disclosure for this sale can be found here. Insiders have sold 28,083 shares of company stock worth $8,959,325 over the last ninety days. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ACN shares. Morgan Stanley increased their target price on Accenture from $400.00 to $417.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Robert W. Baird reduced their target price on shares of Accenture from $372.00 to $345.00 and set a “neutral” rating on the stock in a research report on Thursday, May 16th. Susquehanna reissued a “neutral” rating and set a $360.00 price target (down from $400.00) on shares of Accenture in a research report on Thursday, March 21st. Guggenheim restated a “buy” rating and issued a $395.00 price objective on shares of Accenture in a report on Friday, May 24th. Finally, Royal Bank of Canada lifted their target price on shares of Accenture from $374.00 to $381.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $362.68.

Accenture Trading Down 0.3 %

NYSE ACN traded down $0.80 during trading hours on Monday, hitting $285.91. 1,666,767 shares of the company’s stock traded hands, compared to its average volume of 2,625,564. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51. The firm has a market capitalization of $191.77 billion, a P/E ratio of 25.80, a P/E/G ratio of 3.12 and a beta of 1.22. The business’s fifty day moving average price is $304.35 and its two-hundred day moving average price is $338.75.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, March 21st. The information technology services provider reported $2.77 EPS for the quarter, topping the consensus estimate of $2.66 by $0.11. The firm had revenue of $15.80 billion during the quarter, compared to analyst estimates of $15.85 billion. Accenture had a return on equity of 28.30% and a net margin of 10.89%. Accenture’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business posted $2.69 EPS. On average, sell-side analysts expect that Accenture plc will post 12.08 EPS for the current fiscal year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, April 11th were issued a $1.29 dividend. This represents a $5.16 annualized dividend and a yield of 1.80%. The ex-dividend date was Wednesday, April 10th. Accenture’s dividend payout ratio is currently 46.78%.

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.