Dynamic Advisor Solutions LLC Reduces Stock Position in Accenture plc (NYSE:ACN)

Dynamic Advisor Solutions LLC trimmed its holdings in Accenture plc (NYSE:ACN) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,857 shares of the information technology services provider’s stock after selling 815 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Accenture were worth $7,689,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ACN. Fred Alger Management LLC lifted its stake in Accenture by 2.8% in the 2nd quarter. Fred Alger Management LLC now owns 3,413 shares of the information technology services provider’s stock worth $1,036,000 after purchasing an additional 94 shares in the last quarter. MBB Public Markets I LLC raised its position in shares of Accenture by 1,431.7% in the second quarter. MBB Public Markets I LLC now owns 44,818 shares of the information technology services provider’s stock worth $13,598,000 after buying an additional 41,892 shares in the last quarter. Maverick Capital Ltd. boosted its stake in Accenture by 71.2% during the second quarter. Maverick Capital Ltd. now owns 2,083 shares of the information technology services provider’s stock valued at $632,000 after buying an additional 866 shares during the period. The Manufacturers Life Insurance Company grew its position in Accenture by 40.6% during the second quarter. The Manufacturers Life Insurance Company now owns 952,713 shares of the information technology services provider’s stock worth $289,063,000 after buying an additional 275,145 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in Accenture by 2.4% in the 2nd quarter. Mackenzie Financial Corp now owns 2,205,969 shares of the information technology services provider’s stock worth $669,313,000 after acquiring an additional 51,387 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Transactions at Accenture

In related news, insider Angela Beatty sold 961 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.47, for a total value of $340,645.67. Following the completion of the sale, the insider now directly owns 5,484 shares of the company’s stock, valued at $1,943,913.48. This represents a 14.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Melissa A. Burgum sold 1,487 shares of the 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 owns 9,247 shares in the company, valued at approximately $3,278,431.38. This represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,332 shares of company stock worth $6,172,719. Insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

ACN has been the topic of several research analyst reports. Robert W. Baird restated a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a research report on Tuesday, December 3rd. Jefferies Financial Group decreased their price target on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday. Guggenheim lifted their price objective on shares of Accenture from $380.00 to $395.00 and gave the stock a “buy” rating in a report on Friday, September 27th. UBS Group increased 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. Finally, BMO Capital Markets lifted their price target on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $383.74.

Accenture Trading Down 0.2 %

Shares of NYSE:ACN opened at $362.65 on Friday. The company has a market cap of $226.94 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 3.20 and a beta of 1.24. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average of $357.37 and a 200 day moving average of $347.30. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. During the same quarter last year, the business posted $3.27 EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, equities research analysts expect that Accenture plc will post 12.69 EPS for the current year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Thursday, January 16th. Accenture’s dividend payout ratio is currently 49.66%.

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.