Carbahal Olsen Financial Services Group LLC Makes New Investment in Accenture plc (NYSE:ACN)

Carbahal Olsen Financial Services Group LLC purchased a new position in Accenture plc (NYSE:ACN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 803 shares of the information technology services provider’s stock, valued at approximately $282,000. Accenture makes up approximately 0.3% of Carbahal Olsen Financial Services Group LLC’s portfolio, making the stock its 26th biggest holding.

Other hedge funds also recently modified their holdings of the company. Baldwin Wealth Partners LLC MA boosted its holdings in shares of Accenture by 6.5% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock valued at $22,314,000 after buying an additional 3,883 shares during the period. Davidson Trust Co. boosted its stake in Accenture by 7.4% in the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock worth $812,000 after purchasing an additional 158 shares during the period. Franklin Street Advisors Inc. NC boosted its position in shares of Accenture by 126.8% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 40,051 shares of the information technology services provider’s stock worth $14,090,000 after buying an additional 22,391 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in shares of Accenture by 37.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,094 shares of the information technology services provider’s stock worth $1,088,000 after purchasing an additional 843 shares in the last quarter. Finally, SteelPeak Wealth LLC increased its stake in shares of Accenture by 127.1% during the 4th quarter. SteelPeak Wealth LLC now owns 2,323 shares of the information technology services provider’s stock worth $817,000 after purchasing an additional 1,300 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Trading Down 1.0 %

Shares of Accenture stock opened at $282.28 on Friday. The firm has a market cap of $176.80 billion, a PE ratio of 23.68, a P/E/G ratio of 3.23 and a beta of 1.32. The stock has a fifty day moving average price of $326.22 and a 200-day moving average price of $349.73. 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 plc has a 1 year low of $275.01 and a 1 year high of $398.35.

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, 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 for the quarter, compared to analyst estimates of $16.64 billion. During the same period in the previous year, the company posted $2.77 earnings per share. The business’s revenue was up 5.7% on a year-over-year basis. Equities research analysts anticipate that Accenture plc will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th will be paid 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 dividend yield of 2.10%. Accenture’s dividend payout ratio (DPR) is 48.89%.

Analysts Set New Price Targets

Several research analysts have weighed in on ACN shares. Robert W. Baird raised shares of Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price target on the stock in a report on Monday, March 17th. BMO Capital Markets raised their price target on shares of Accenture to $355.00 and gave the stock a “hold” rating in a research report on Wednesday, March 26th. Baird R W upgraded shares of Accenture from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Stifel Nicolaus cut their target price on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Guggenheim decreased their target price on shares of Accenture from $400.00 to $395.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $377.82.

Insider Transactions at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 1,487 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total transaction of $527,200.98. Following the completion of the transaction, the chief accounting officer now owns 9,247 shares of the company’s stock, valued at approximately $3,278,431.38. This trade represents a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Angela Beatty sold 169 shares of the company’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.90, for a total value of $47,641.10. Following the completion of the sale, the insider now owns 5,364 shares in the company, valued at $1,512,111.60. The trade was a 3.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,778 shares of company stock worth $8,408,087. Company insiders own 0.02% of the company’s stock.

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.