AlphaStar Capital Management LLC Has $208,000 Position in Accenture PLC (NYSE:ACN)

AlphaStar Capital Management LLC lifted its stake in shares of Accenture PLC (NYSE:ACN) by 11.8% during the first quarter, Holdings Channel reports. The fund owned 665 shares of the information technology services provider’s stock after buying an additional 70 shares during the quarter. AlphaStar Capital Management LLC’s holdings in Accenture were worth $208,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ACN. Norges Bank bought a new stake in Accenture during the 4th quarter worth approximately $2,351,683,000. GAMMA Investing LLC lifted its position in shares of Accenture by 30,256.8% during the first quarter. GAMMA Investing LLC now owns 3,421,519 shares of the information technology services provider’s stock valued at $1,067,651,000 after purchasing an additional 3,410,248 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Accenture by 22.8% during the fourth quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider’s stock valued at $4,283,225,000 after purchasing an additional 2,260,740 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Accenture by 16.8% during the fourth quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider’s stock valued at $4,325,526,000 after purchasing an additional 1,770,024 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Accenture by 10.7% during the fourth quarter. Northern Trust Corp now owns 7,582,344 shares of the information technology services provider’s stock valued at $2,667,393,000 after purchasing an additional 732,769 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ACN shares. Barclays dropped their price target on shares of Accenture from $390.00 to $360.00 and set an “overweight” rating on the stock in a research report on Monday, June 23rd. UBS Group restated a “buy” rating and set a $395.00 price objective (up previously from $390.00) on shares of Accenture in a report on Thursday, May 22nd. Robert W. Baird upgraded shares of Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price objective for the company in a report on Monday, March 17th. BMO Capital Markets decreased their price objective on shares of Accenture from $355.00 to $325.00 and set a “market perform” rating for the company in a report on Monday, June 23rd. Finally, Benchmark restated a “mixed” rating on shares of Accenture in a report on Friday, June 20th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $370.71.

Accenture Price Performance

Shares of NYSE:ACN opened at $303.27 on Wednesday. The company has a 50 day moving average of $309.78 and a 200 day moving average of $328.62. The stock has a market cap of $189.95 billion, a P/E ratio of 24.15, a P/E/G ratio of 2.82 and a beta of 1.29. Accenture PLC has a 12 month low of $273.19 and a 12 month high of $398.35. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16.

Accenture (NYSE:ACN) last announced its earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.17. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The business had revenue of $17.73 billion during the quarter, compared to analyst estimates of $17.26 billion. During the same period in the previous year, the business posted $3.13 earnings per share. Accenture’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, sell-side analysts forecast that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 10th will be given a dividend of $1.48 per share. The ex-dividend date is Thursday, July 10th. This represents a $5.92 annualized dividend and a yield of 1.95%. Accenture’s payout ratio is presently 47.13%.

Insider Buying and Selling at Accenture

In other news, COO John F. Walsh sold 2,500 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $325.00, for a total value of $812,500.00. Following the completion of the sale, the chief operating officer owned 15,882 shares of the company’s stock, valued at approximately $5,161,650. This represents a 13.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Joel Unruch sold 3,563 shares of the company’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.78, for a total transaction of $1,003,982.14. Following the completion of the sale, the general counsel directly owned 17,237 shares of the company’s stock, valued at $4,857,041.86. This trade represents a 17.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,516 shares of company stock worth $2,507,366 over the last 90 days. Company insiders own 0.02% of the company’s stock.

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.