Dynamic Technology Lab Private Ltd Takes Position in Accenture plc (NYSE:ACN)

Dynamic Technology Lab Private Ltd bought a new stake in Accenture plc (NYSE:ACN) in the fourth quarter, HoldingsChannel reports. The fund bought 2,691 shares of the information technology services provider’s stock, valued at approximately $947,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACN. Newbridge Financial Services Group Inc. raised its holdings in Accenture by 5.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock worth $182,000 after acquiring an additional 28 shares in the last quarter. FPC Investment Advisory Inc. raised its stake in shares of 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 in the last quarter. New England Professional Planning Group Inc. grew its stake in shares of Accenture by 4.6% in the fourth quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock valued at $230,000 after buying an additional 29 shares in the last quarter. Nemes Rush Group LLC increased its holdings in Accenture by 7.5% during the fourth quarter. Nemes Rush Group LLC now owns 418 shares of the information technology services provider’s stock worth $147,000 after buying an additional 29 shares during the last quarter. Finally, TCW Group Inc. raised its position in Accenture by 0.3% during the third quarter. TCW Group Inc. now owns 11,501 shares of the information technology services provider’s stock worth $4,065,000 after acquiring an additional 30 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Angie Y. Park sold 685 shares of Accenture stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the sale, the chief financial officer now directly owns 8,674 shares of the company’s stock, valued at approximately $3,073,892.12. The trade was a 7.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Angela Beatty sold 961 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $354.47, for a total transaction of $340,645.67. Following the completion of the transaction, the insider now directly owns 5,484 shares of the company’s stock, valued at approximately $1,943,913.48. The trade was a 14.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,905 shares of company stock worth $8,181,753. Insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

ACN has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. BMO Capital Markets raised their price objective on Accenture to $355.00 and gave the company a “hold” rating in a research report on Wednesday, March 26th. Piper Sandler decreased their target price on Accenture from $396.00 to $364.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Jefferies Financial Group cut their price target on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Finally, UBS Group dropped their price objective on shares of Accenture from $455.00 to $387.00 and set a “buy” rating on the stock in a research 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $378.23.

Accenture Stock Performance

ACN opened at $285.04 on Monday. The firm has a market cap of $178.53 billion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 3.23 and a beta of 1.32. The business’s fifty day moving average is $349.68 and its 200-day moving average is $354.67. Accenture plc has a 52-week low of $275.00 and a 52-week high of $398.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47.

Accenture (NYSE:ACN) last released its earnings results 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. The firm had revenue of $16.70 billion for the quarter, compared to analyst estimates of $16.64 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the firm earned $2.77 EPS. Sell-side analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The firm 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. This represents a $5.92 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Thursday, April 10th. Accenture’s dividend payout ratio is presently 48.89%.

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.