Rinkey Investments Acquires 1,442 Shares of Accenture plc (NYSE:ACN)

Rinkey Investments lifted its holdings in Accenture plc (NYSE:ACN) by 70.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,499 shares of the information technology services provider’s stock after buying an additional 1,442 shares during the period. Rinkey Investments’ holdings in Accenture were worth $1,231,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Morse Asset Management Inc purchased a new position in shares of Accenture during the third quarter worth about $25,000. SkyView Investment Advisors LLC increased its stake in shares of Accenture by 1.9% during the third quarter. SkyView Investment Advisors LLC now owns 1,796 shares of the information technology services provider’s stock valued at $635,000 after buying an additional 33 shares during the period. Anchor Investment Management LLC boosted its position in Accenture by 8.4% during the 3rd quarter. Anchor Investment Management LLC now owns 6,135 shares of the information technology services provider’s stock valued at $2,169,000 after acquiring an additional 474 shares in the last quarter. Arvest Bank Trust Division purchased a new position in Accenture during the third quarter valued at $18,115,000. Finally, Wilmington Savings Fund Society FSB grew its stake in shares of Accenture by 2.5% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 41,175 shares of the information technology services provider’s stock worth $14,555,000 after buying an additional 1,015 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Trading Up 0.8 %

Shares of ACN stock opened at $293.63 on Friday. Accenture plc has a twelve month low of $275.01 and a twelve month high of $398.35. 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 business’s 50 day moving average is $316.14 and its two-hundred day moving average is $347.25. The company has a market capitalization of $183.91 billion, a P/E ratio of 24.63, a price-to-earnings-growth ratio of 3.23 and a beta of 1.32.

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

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a yield of 2.02%. Accenture’s dividend payout ratio (DPR) is 48.89%.

Insiders Place Their Bets

In other news, insider Angela Beatty sold 169 shares of the business’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.90, for a total transaction of $47,641.10. Following the transaction, the insider now directly owns 5,364 shares of the company’s stock, valued at approximately $1,512,111.60. The trade was a 3.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Melissa A. Burgum sold 232 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the transaction, the chief accounting officer now directly owns 8,915 shares in the company, valued at approximately $3,516,610.90. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,041 shares of company stock valued at $5,254,956 in the last ninety days. Insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Jefferies Financial Group reduced their price objective on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Royal Bank of Canada reduced their target price on shares of Accenture from $399.00 to $392.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Baird R W raised shares of Accenture from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Barclays decreased their target price on Accenture from $415.00 to $390.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Finally, BMO Capital Markets lifted their price objective on Accenture to $355.00 and gave the company a “hold” rating in a research report on Wednesday, March 26th. Eight analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $377.82.

Accenture Company 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.