NEOS Investment Management LLC Buys 8,708 Shares of Accenture plc (NYSE:ACN)

NEOS Investment Management LLC increased its stake in Accenture plc (NYSE:ACN) by 31.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,707 shares of the information technology services provider’s stock after buying an additional 8,708 shares during the quarter. NEOS Investment Management LLC’s holdings in Accenture were worth $12,913,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. boosted its stake in shares of Accenture by 5.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock worth $182,000 after purchasing an additional 28 shares during the period. FPC Investment Advisory Inc. boosted its position in shares of Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 28 shares during the period. Tradition Wealth Management LLC grew its stake in shares of Accenture by 0.3% during the third quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock valued at $3,871,000 after buying an additional 29 shares during the last quarter. New England Professional Planning Group Inc. lifted its stake in shares of Accenture by 4.6% during the 4th quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock worth $230,000 after acquiring an additional 29 shares during the last quarter. Finally, TCW Group Inc. grew its position in Accenture by 0.3% in the 3rd quarter. TCW Group Inc. now owns 11,501 shares of the information technology services provider’s stock valued at $4,065,000 after acquiring an additional 30 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ACN has been the subject of several research analyst reports. Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price for the company in a research report on Wednesday, January 8th. BMO Capital Markets lifted their price objective on shares of Accenture to $355.00 and gave the company a “hold” rating in a report on Wednesday. Robert W. Baird upgraded shares of Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 target price on the stock in a research note on Monday, March 17th. Baird R W upgraded Accenture from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Finally, The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.23.

Insider Transactions at Accenture

In other Accenture 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 completion of the sale, the chief financial officer now directly owns 8,674 shares in the company, valued at approximately $3,073,892.12. The trade was a 7.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the transaction, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. This trade represents a 42.58 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,905 shares of company stock worth $8,181,753. Company insiders own 0.02% of the company’s stock.

Accenture Stock Performance

Shares of ACN opened at $311.38 on Thursday. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The stock has a fifty day moving average price of $356.77 and a 200-day moving average price of $356.56. 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 firm has a market cap of $194.86 billion, a PE ratio of 26.12, a P/E/G ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, topping 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 business had revenue of $16.70 billion during the quarter, compared to the consensus estimate of $16.64 billion. During the same quarter last year, the company earned $2.77 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. Equities research analysts predict that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Announces Dividend

The business also recently declared 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 dividend yield of 1.90%. Accenture’s dividend payout ratio is currently 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.