GAMMA Investing LLC Makes New Investment in Accenture plc (NYSE:ACN)

GAMMA Investing LLC purchased a new position in Accenture plc (NYSE:ACN) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,411 shares of the information technology services provider’s stock, valued at approximately $1,241,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of ACN. Ameriprise Financial Inc. lifted its holdings in shares of Accenture by 2.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,284,770 shares of the information technology services provider’s stock worth $1,315,832,000 after acquiring an additional 96,414 shares during the period. Redwood Investments LLC lifted its holdings in shares of Accenture by 8.3% during the 4th quarter. Redwood Investments LLC now owns 20,227 shares of the information technology services provider’s stock worth $7,098,000 after acquiring an additional 1,542 shares during the period. Chicago Capital LLC lifted its holdings in shares of Accenture by 284.7% during the 4th quarter. Chicago Capital LLC now owns 12,677 shares of the information technology services provider’s stock worth $4,449,000 after acquiring an additional 9,382 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Accenture by 33,484.1% during the 4th quarter. International Assets Investment Management LLC now owns 567,572 shares of the information technology services provider’s stock worth $199,167,000 after acquiring an additional 565,882 shares during the period. Finally, VELA Investment Management LLC lifted its holdings in shares of Accenture by 4.3% during the 3rd quarter. VELA Investment Management LLC now owns 3,681 shares of the information technology services provider’s stock worth $1,130,000 after acquiring an additional 153 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Trading Down 0.2 %

Shares of NYSE:ACN traded down $0.62 during trading on Tuesday, hitting $316.80. 2,000,140 shares of the company’s stock were exchanged, compared to its average volume of 2,386,068. Accenture plc has a 1-year low of $261.68 and a 1-year high of $387.51. The firm has a 50-day moving average price of $354.21 and a two-hundred day moving average price of $342.37. The firm has a market cap of $212.49 billion, a P/E ratio of 28.79, a PEG ratio of 3.00 and a beta of 1.19.

Accenture (NYSE:ACN) last issued its quarterly earnings results 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. Accenture had a net margin of 10.89% and a return on equity of 28.30%. The company had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.85 billion. During the same quarter in the previous year, the company earned $2.69 EPS. Accenture’s revenue was down .1% on a year-over-year basis. As a group, research analysts predict that Accenture plc will post 12.09 EPS for the current year.

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 11th will be issued a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Wednesday, April 10th. Accenture’s dividend payout ratio is currently 46.78%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ACN. UBS Group lifted their price target on shares of Accenture from $365.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. TD Cowen cut their price target on shares of Accenture from $363.00 to $350.00 and set a “market perform” rating for the company in a report on Friday, March 22nd. Redburn Atlantic lifted their price target on shares of Accenture from $410.00 to $445.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Citigroup cut their price target on shares of Accenture from $430.00 to $400.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Finally, Royal Bank of Canada lifted their price target on shares of Accenture from $374.00 to $381.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $387.00.

Insider Activity at Accenture

In related news, CAO Melissa A. Burgum sold 3,010 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $371.80, for a total transaction of $1,119,118.00. Following the completion of the transaction, the chief accounting officer now owns 9,193 shares in the company, valued at $3,417,957.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Joel Unruch sold 4,333 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The shares were 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 owns 30,702 shares in the company, valued at $9,705,516.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Melissa A. Burgum sold 3,010 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $371.80, for a total transaction of $1,119,118.00. Following the completion of the transaction, the chief accounting officer now owns 9,193 shares of the company’s stock, valued at approximately $3,417,957.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,833 shares of company stock worth $13,645,871. 0.07% of the stock is currently owned by company insiders.

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.