Gallacher Capital Management LLC Purchases Shares of 753 Accenture plc (NYSE:ACN)

Gallacher Capital Management LLC purchased a new stake in Accenture plc (NYSE:ACN) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 753 shares of the information technology services provider’s stock, valued at approximately $261,000.

Other hedge funds also recently bought and sold shares of the company. Chilton Capital Management LLC raised its position in Accenture by 180.0% in 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 in the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in Accenture in the 4th quarter valued at about $27,000. Annapolis Financial Services LLC raised its position in shares of Accenture by 507.7% during the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 66 shares in the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Accenture during the 4th quarter worth about $29,000. Finally, Atwood & Palmer Inc. raised its position in shares of Accenture by 214.8% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 58 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insiders Place Their Bets

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the sale, the insider now directly owns 13,699 shares in the company, valued at $4,208,606.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, General Counsel Joel Unruch sold 4,333 shares of the business’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $316.12, for a total value of $1,369,747.96. Following the completion of the transaction, the general counsel now directly owns 30,702 shares of the company’s stock, valued at $9,705,516.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total value of $1,536,100.00. Following the completion of the transaction, the insider now directly owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The disclosure for this sale can be found here. 0.07% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ACN has been the topic of several research analyst reports. Stifel Nicolaus cut their target price on Accenture from $395.00 to $340.00 and set a “buy” rating on the stock in a research report on Wednesday, June 12th. Royal Bank of Canada raised their target price on Accenture from $374.00 to $381.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Mizuho cut their target price on Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. StockNews.com lowered Accenture from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Finally, Piper Sandler Companies cut their price target on Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a research report on Monday, June 17th. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Accenture has a consensus rating of “Hold” and an average target price of $351.82.

Accenture Stock Up 4.1 %

Shares of Accenture stock traded up $12.20 during trading on Friday, reaching $310.19. The company’s stock had a trading volume of 1,402,877 shares, compared to its average volume of 2,880,768. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51. The company has a market capitalization of $194.39 billion, a P/E ratio of 28.20, a price-to-earnings-growth ratio of 3.29 and a beta of 1.23. The business has a 50 day moving average price of $298.98 and a 200-day moving average price of $333.43.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The business had revenue of $16.47 billion during the quarter, compared to analysts’ expectations of $16.55 billion. During the same quarter last year, the firm earned $3.19 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. Research analysts predict that Accenture plc will post 11.95 EPS for the current fiscal year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th will be given a dividend of $1.29 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $5.16 dividend on an annualized basis and a yield of 1.66%. Accenture’s payout ratio is 47.25%.

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.