VCI Wealth Management LLC Invests $1.46 Million in Accenture plc (NYSE:ACN)

VCI Wealth Management LLC bought a new position in Accenture plc (NYSE:ACN) during the 4th quarter, HoldingsChannel.com reports. The fund bought 4,160 shares of the information technology services provider’s stock, valued at approximately $1,460,000.

Several other institutional investors have also made changes to their positions in ACN. Abbrea Capital LLC boosted its holdings in shares of Accenture by 1.9% during the fourth quarter. Abbrea Capital LLC now owns 4,110 shares of the information technology services provider’s stock worth $1,442,000 after purchasing an additional 75 shares during the period. Syon Capital LLC boosted its holdings in shares of Accenture by 60.0% during the fourth quarter. Syon Capital LLC now owns 7,059 shares of the information technology services provider’s stock worth $2,477,000 after purchasing an additional 2,648 shares during the period. Two Point Capital Management Inc. boosted its holdings in shares of Accenture by 1.3% during the fourth quarter. Two Point Capital Management Inc. now owns 44,478 shares of the information technology services provider’s stock worth $15,608,000 after purchasing an additional 580 shares during the period. Meritage Portfolio Management acquired a new stake in shares of Accenture during the fourth quarter worth approximately $205,000. Finally, Lyell Wealth Management LP acquired a new stake in shares of Accenture during the fourth quarter worth approximately $207,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Price Performance

Shares of NYSE ACN traded down $4.56 during mid-day trading on Thursday, hitting $308.98. The company’s stock had a trading volume of 3,634,490 shares, compared to its average volume of 2,423,520. The stock has a market cap of $207.25 billion, a price-to-earnings ratio of 27.83, a price-to-earnings-growth ratio of 3.00 and a beta of 1.19. Accenture plc has a one year low of $261.68 and a one year high of $387.51. The company’s fifty day simple moving average is $352.14 and its 200-day simple moving average is $342.20.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.11. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $15.85 billion. Accenture had a net margin of 10.89% and a return on equity of 28.30%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the firm earned $2.69 EPS. On average, sell-side analysts predict that Accenture plc will post 12.09 EPS for the current year.

Accenture Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 11th will be given a $1.29 dividend. The ex-dividend date is Wednesday, April 10th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.67%. Accenture’s dividend payout ratio is 46.78%.

Wall Street Analyst Weigh In

ACN has been the subject of several research reports. Royal Bank of Canada raised their price target on shares of Accenture from $374.00 to $381.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Susquehanna reissued a “neutral” rating and issued a $360.00 target price (down from $400.00) on shares of Accenture in a research report on Thursday, March 21st. Stifel Nicolaus boosted their target price on shares of Accenture from $363.00 to $395.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Redburn Atlantic boosted their target price on shares of Accenture from $410.00 to $445.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Finally, Citigroup decreased their target price on shares of Accenture from $430.00 to $400.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $387.00.

Insider Activity at Accenture

In related news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $371.81, for a total value of $1,859,050.00. Following the sale, the insider now directly owns 20,316 shares in the company, valued at approximately $7,553,691.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $371.81, for a total value of $1,859,050.00. Following the sale, the insider now directly owns 20,316 shares in the company, valued at approximately $7,553,691.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John F. Walsh sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the sale, the chief operating officer now owns 17,877 shares in the company, valued at $5,937,488.01. The disclosure for this sale can be found here. Insiders have sold 39,833 shares of company stock worth $13,645,871 in the last ninety days. Company insiders own 0.07% 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.