Louisbourg Investments Inc. Reduces Stock Position in Accenture plc (NYSE:ACN)

Louisbourg Investments Inc. decreased its stake in shares of Accenture plc (NYSE:ACN) by 21.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,855 shares of the information technology services provider’s stock after selling 2,400 shares during the period. Louisbourg Investments Inc.’s holdings in Accenture were worth $3,115,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Morse Asset Management Inc purchased a new position in shares of Accenture in the 3rd quarter worth $25,000. MidAtlantic Capital Management Inc. bought a new position in Accenture in the third quarter valued at about $30,000. POM Investment Strategies LLC boosted its position in Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 34 shares during the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Accenture during the 4th quarter valued at about $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC increased its position in shares of Accenture by 607.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the subject of several recent research reports. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price for the company in a research report on Wednesday, January 8th. Piper Sandler boosted their price objective on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Robert W. Baird reaffirmed a “neutral” rating and issued a $370.00 target price on shares of Accenture in a report on Tuesday, December 3rd. UBS Group lifted their target price on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Jefferies Financial Group reduced their price target on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. 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, Accenture has a consensus rating of “Moderate Buy” and an average target price of $387.22.

Insider Activity at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 1,487 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total value of $527,200.98. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Angie Y. Park sold 685 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the completion of the sale, the chief financial officer now directly owns 8,674 shares of the company’s stock, valued at $3,073,892.12. This represents a 7.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is owned by company insiders.

Accenture Trading Up 0.9 %

Shares of NYSE ACN opened at $390.21 on Wednesday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market cap of $244.19 billion, a PE ratio of 32.74, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. The business has a fifty day simple moving average of $363.57 and a two-hundred day simple moving average of $353.18. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.16. The business had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.27 earnings per share. Analysts expect that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be given a $1.48 dividend. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $5.92 annualized dividend and a yield of 1.52%. Accenture’s dividend payout ratio is presently 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.