Elo Mutual Pension Insurance Co Sells 2,507 Shares of Accenture plc (NYSE:ACN)

Elo Mutual Pension Insurance Co decreased its holdings in shares of Accenture plc (NYSE:ACN) by 4.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,023 shares of the information technology services provider’s stock after selling 2,507 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Accenture were worth $20,060,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Morse Asset Management Inc bought a new position in Accenture in the 3rd quarter valued at about $25,000. FPC Investment Advisory Inc. lifted its holdings in Accenture by 62.2% during the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 28 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in Accenture in the 4th quarter valued at $30,000. POM Investment Strategies LLC increased its position in Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after buying an additional 34 shares during the period. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Accenture during the fourth quarter worth $34,000. 75.14% of the stock is owned by institutional investors.

Insider Transactions at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 2,497 shares of Accenture stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $354.48, for a total transaction of $885,136.56. Following the transaction, the chief executive officer now owns 28,866 shares of the company’s stock, valued at $10,232,419.68. This trade represents a 7.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Melissa A. Burgum sold 232 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total value of $91,514.72. Following the completion of the transaction, the chief accounting officer now directly owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,905 shares of company stock valued at $8,181,753 over the last ninety days. 0.02% of the stock is currently owned by insiders.

Accenture Stock Performance

Shares of ACN opened at $311.38 on Thursday. The stock has a market capitalization of $194.86 billion, a P/E ratio of 26.12, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm’s fifty day simple moving average is $356.77 and its two-hundred day simple moving average is $356.56. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35.

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

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, April 10th. Accenture’s dividend payout ratio is currently 48.89%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Morgan Stanley cut their price objective on shares of Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a report on Monday, March 17th. StockNews.com cut Accenture from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Stifel Nicolaus reduced their target price on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Mizuho reduced their price objective on shares of Accenture from $428.00 to $398.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 19th. Finally, Guggenheim cut their price target on shares of Accenture from $400.00 to $395.00 and set a “buy” rating for the company in a report on Friday, March 21st. Eight analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Accenture presently has a consensus rating of “Moderate Buy” and a consensus price target of $378.23.

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.