One Capital Management LLC Raises Stake in Accenture plc (NYSE:ACN)

One Capital Management LLC lifted its position in shares of Accenture plc (NYSE:ACN) by 536.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,672 shares of the information technology services provider’s stock after buying an additional 5,624 shares during the quarter. One Capital Management LLC’s holdings in Accenture were worth $2,024,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ACN. Swedbank AB acquired a new position in Accenture during the first quarter valued at approximately $820,912,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Accenture by 100.0% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,751,531 shares of the information technology services provider’s stock worth $614,615,000 after buying an additional 875,723 shares during the last quarter. Winslow Capital Management LLC bought a new stake in Accenture during the fourth quarter valued at $288,168,000. Generation Investment Management LLP bought a new stake in Accenture during the fourth quarter valued at $286,220,000. Finally, Public Employees Retirement Association of Colorado bought a new stake in Accenture during the fourth quarter valued at $263,421,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Trading Up 1.3 %

Shares of NYSE:ACN opened at $354.12 on Tuesday. The stock has a market capitalization of $221.92 billion, a P/E ratio of 32.43, a P/E/G ratio of 3.82 and a beta of 1.24. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51. The business has a 50-day moving average price of $329.17 and a two-hundred day moving average price of $322.90.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing the consensus estimate of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The company had revenue of $16.47 billion during the quarter, compared to analyst estimates of $16.55 billion. During the same period in the previous year, the company posted $3.19 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities analysts predict that Accenture plc will post 11.95 EPS for the current year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th were issued a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 1.46%. The ex-dividend date was Thursday, July 11th. Accenture’s dividend payout ratio is 47.25%.

Insider Buying and Selling at Accenture

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the completion of the sale, the insider now owns 8,989 shares of the company’s stock, valued at approximately $2,964,751.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Accenture news, CFO Kathleen R. Mcclure sold 3,000 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $309.22, for a total transaction of $927,660.00. Following the transaction, the chief financial officer now owns 40,070 shares in the company, valued at approximately $12,390,445.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ellyn Shook sold 5,000 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total value of $1,649,100.00. Following the transaction, the insider now owns 8,989 shares in the company, valued at approximately $2,964,751.98. The disclosure for this sale can be found here. Insiders sold 21,421 shares of company stock valued at $6,912,635 in the last quarter. 0.07% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ACN. TD Cowen boosted their price target on shares of Accenture from $293.00 to $321.00 and gave the company a “hold” rating in a report on Thursday, September 12th. Piper Sandler cut their price target on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a report on Monday, June 17th. Morgan Stanley downgraded shares of Accenture from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $382.00 to $300.00 in a report on Wednesday, June 26th. Bank of America cut their price target on shares of Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Finally, Wedbush cut their price target on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, June 12th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $354.68.

About Accenture

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.