Mach 1 Financial Group LLC Makes New $1.07 Million Investment in Accenture PLC $ACN

Mach 1 Financial Group LLC bought a new position in shares of Accenture PLC (NYSE:ACN) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 3,985 shares of the information technology services provider’s stock, valued at approximately $1,069,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Jaffetilchin Investment Partners LLC increased its position in shares of Accenture by 4.2% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 878 shares of the information technology services provider’s stock worth $236,000 after buying an additional 35 shares during the period. Clayton Financial Group LLC increased its position in shares of Accenture by 13.1% during the fourth quarter. Clayton Financial Group LLC now owns 329 shares of the information technology services provider’s stock worth $88,000 after buying an additional 38 shares during the period. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. increased its position in shares of Accenture by 0.9% during the third quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 4,416 shares of the information technology services provider’s stock worth $1,089,000 after buying an additional 41 shares during the period. Peak Asset Management LLC increased its position in shares of Accenture by 0.8% during the fourth quarter. Peak Asset Management LLC now owns 5,447 shares of the information technology services provider’s stock worth $1,461,000 after buying an additional 43 shares during the period. Finally, SkyView Investment Advisors LLC increased its position in shares of Accenture by 1.2% during the second quarter. SkyView Investment Advisors LLC now owns 3,751 shares of the information technology services provider’s stock worth $1,108,000 after buying an additional 43 shares during the period. 75.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Accenture

In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $177.14, for a total value of $863,026.08. Following the transaction, the chief executive officer directly owned 12,802 shares of the company’s stock, valued at approximately $2,267,746.28. This trade represents a 27.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. HSBC decreased their price objective on shares of Accenture from $220.00 to $210.00 and set a “hold” rating for the company in a research report on Tuesday, April 14th. BMO Capital Markets decreased their price objective on shares of Accenture from $300.00 to $230.00 and set a “market perform” rating for the company in a research report on Friday, March 20th. Piper Sandler set a $282.00 price objective on shares of Accenture in a research report on Thursday, March 5th. Truist Financial decreased their price objective on shares of Accenture from $317.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Accenture from $243.00 to $247.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. Seventeen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $274.50.

Accenture Stock Up 1.3%

Shares of NYSE ACN opened at $179.12 on Thursday. The firm has a market cap of $119.19 billion, a PE ratio of 14.67, a P/E/G ratio of 1.68 and a beta of 1.08. Accenture PLC has a 12-month low of $155.82 and a 12-month high of $322.86. The company’s fifty day simple moving average is $188.33 and its 200 day simple moving average is $229.64. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.16.

Accenture (NYSE:ACN) last released its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The firm had revenue of $18.04 billion for the quarter, compared to analyst estimates of $17.80 billion. During the same period last year, the firm earned $2.82 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Accenture PLC will post 13.87 earnings per share for the current fiscal year.

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 9th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Thursday, April 9th. Accenture’s dividend payout ratio (DPR) is 53.40%.

Accenture Company Profile

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.