Sachetta LLC Makes New $1.57 Million Investment in Accenture plc (NYSE:ACN)

Sachetta LLC acquired a new position in Accenture plc (NYSE:ACNFree Report) during the 4th quarter, HoldingsChannel reports. The fund acquired 4,477 shares of the information technology services provider’s stock, valued at approximately $1,571,000. Accenture accounts for approximately 0.7% of Sachetta LLC’s holdings, making the stock its 21st biggest position.

Several other hedge funds have also bought and sold shares of the stock. Clearbridge Investments LLC lifted its position in shares of Accenture by 9.6% during the 4th quarter. Clearbridge Investments LLC now owns 1,787,823 shares of the information technology services provider’s stock valued at $627,365,000 after buying an additional 156,468 shares in the last quarter. Balentine LLC lifted its position in shares of Accenture by 26.3% during the 4th quarter. Balentine LLC now owns 22,661 shares of the information technology services provider’s stock valued at $7,952,000 after buying an additional 4,723 shares in the last quarter. Thoroughbred Financial Services LLC lifted its position in shares of Accenture by 41.7% during the 4th quarter. Thoroughbred Financial Services LLC now owns 5,874 shares of the information technology services provider’s stock valued at $2,061,000 after buying an additional 1,729 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in shares of Accenture by 11.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 24,886 shares of the information technology services provider’s stock valued at $8,733,000 after buying an additional 2,618 shares in the last quarter. Finally, MainStreet Investment Advisors LLC lifted its position in shares of Accenture by 6.0% during the 4th quarter. MainStreet Investment Advisors LLC now owns 16,765 shares of the information technology services provider’s stock valued at $5,883,000 after buying an additional 946 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Stock Up 1.0 %

NYSE:ACN traded up $2.95 on Monday, reaching $306.54. 1,420,088 shares of the company’s stock were exchanged, compared to its average volume of 2,508,867. The firm has a market capitalization of $205.61 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 2.88 and a beta of 1.21. The business has a fifty day moving average of $328.56 and a 200-day moving average of $343.08. Accenture plc has a 52-week low of $284.90 and a 52-week high of $387.51.

Accenture (NYSE:ACNGet Free Report) last issued its quarterly earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.11. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $15.85 billion. Accenture had a net margin of 10.89% and a return on equity of 28.30%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.69 earnings per share. As a group, equities analysts anticipate that Accenture plc will post 12.09 earnings per share for the current year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Thursday, April 11th were given a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Wednesday, April 10th. Accenture’s dividend payout ratio is presently 46.78%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ACN shares. BMO Capital Markets decreased their target price on Accenture from $385.00 to $375.00 and set a “market perform” rating on the stock in a research report on Friday, March 22nd. Guggenheim assumed coverage on Accenture in a report on Tuesday, March 19th. They issued a “buy” rating and a $425.00 price objective on the stock. Redburn Atlantic raised their price objective on Accenture from $410.00 to $445.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Susquehanna restated a “neutral” rating and issued a $360.00 price objective (down previously from $400.00) on shares of Accenture in a report on Thursday, March 21st. Finally, Morgan Stanley raised their price objective on Accenture from $400.00 to $417.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and a consensus target price of $381.67.

Read Our Latest Report on Accenture

Insider Transactions at Accenture

In other news, CEO Jean-Marc Ollagnier sold 6,250 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the completion of the transaction, the chief executive officer now directly owns 161,581 shares of the company’s stock, valued at $51,045,053.71. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Jean-Marc Ollagnier sold 6,250 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the completion of the transaction, the chief executive officer now directly owns 161,581 shares of the company’s stock, valued at $51,045,053.71. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction dated 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 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. Over the last ninety days, insiders sold 28,083 shares of company stock valued at $8,959,325. 0.07% of the stock is currently owned by corporate insiders.

Accenture Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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