Millstone Evans Group LLC Purchases Shares of 105 Accenture plc (NYSE:ACN)

Millstone Evans Group LLC acquired a new position in shares of Accenture plc (NYSE:ACN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 105 shares of the information technology services provider’s stock, valued at approximately $37,000.

Several other institutional investors also recently modified their holdings of ACN. Morse Asset Management Inc purchased a new stake in shares of Accenture during the 3rd quarter valued at $25,000. FPC Investment Advisory Inc. increased its stake in Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 28 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in Accenture during the fourth quarter worth about $30,000. POM Investment Strategies LLC boosted its holdings in shares of Accenture by 64.2% in the 4th 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 in the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Accenture during the 4th quarter valued at about $34,000. 75.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on ACN shares. UBS Group cut their target price on Accenture from $455.00 to $387.00 and set a “buy” rating for the company in a research note on Friday. Mizuho reduced their target price on shares of Accenture from $428.00 to $398.00 and set an “outperform” rating on the stock in a report on Wednesday, March 19th. Barclays lowered their target price on Accenture from $415.00 to $390.00 and set an “overweight” rating for the company in a research note on Monday. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Accenture presently has an average rating of “Moderate Buy” and an average target price of $378.91.

Insider Transactions at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 1,487 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total value of $527,200.98. Following the transaction, the chief accounting officer now directly owns 9,247 shares in the company, valued at approximately $3,278,431.38. This trade represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Angie Y. Park sold 685 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $354.38, for a total value of $242,750.30. Following the completion of the sale, the chief financial officer now owns 8,674 shares of the company’s stock, valued at $3,073,892.12. This trade represents a 7.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,905 shares of company stock worth $8,181,753 in the last quarter. Company insiders own 0.02% of the company’s stock.

Accenture Price Performance

Shares of NYSE:ACN opened at $307.24 on Tuesday. The company has a market capitalization of $192.27 billion, a PE ratio of 25.78, a PEG ratio of 3.23 and a beta of 1.24. The business has a fifty day moving average price of $358.32 and a 200-day moving average price of $357.10. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.01. The business had revenue of $16.70 billion during the quarter, compared to the consensus estimate of $16.64 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.77 EPS. As a group, equities analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Thursday, April 10th. Accenture’s payout ratio is currently 48.89%.

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.