Marco Investment Management LLC Sells 50 Shares of Accenture plc (NYSE:ACN)

Marco Investment Management LLC cut its holdings in Accenture plc (NYSE:ACN) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,195 shares of the information technology services provider’s stock after selling 50 shares during the period. Marco Investment Management LLC’s holdings in Accenture were worth $3,578,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Ameriprise Financial Inc. raised its position in shares of Accenture by 2.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,284,770 shares of the information technology services provider’s stock worth $1,315,832,000 after acquiring an additional 96,414 shares in the last quarter. Redwood Investments LLC increased its position in Accenture by 8.3% in the 4th quarter. Redwood Investments LLC now owns 20,227 shares of the information technology services provider’s stock valued at $7,098,000 after buying an additional 1,542 shares in the last quarter. Chicago Capital LLC increased its position in Accenture by 284.7% in the 4th quarter. Chicago Capital LLC now owns 12,677 shares of the information technology services provider’s stock valued at $4,449,000 after buying an additional 9,382 shares in the last quarter. International Assets Investment Management LLC increased its position in Accenture by 33,484.1% in the 4th quarter. International Assets Investment Management LLC now owns 567,572 shares of the information technology services provider’s stock valued at $199,167,000 after buying an additional 565,882 shares in the last quarter. Finally, VELA Investment Management LLC increased its position in Accenture by 4.3% in the 3rd quarter. VELA Investment Management LLC now owns 3,681 shares of the information technology services provider’s stock valued at $1,130,000 after buying an additional 153 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Accenture Stock Performance

ACN stock traded down $0.99 during midday trading on Friday, reaching $308.01. 3,371,848 shares of the company’s stock traded hands, compared to its average volume of 2,670,314. The firm has a market capitalization of $206.59 billion, a PE ratio of 27.92, a price-to-earnings-growth ratio of 2.92 and a beta of 1.19. Accenture plc has a 52 week low of $261.68 and a 52 week high of $387.51. The company has a 50-day moving average price of $349.66 and a two-hundred day moving average price of $342.35.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.11. The firm had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.85 billion. Accenture had a net margin of 10.89% and a return on equity of 28.30%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.69 earnings per share. As a group, analysts predict that Accenture plc will post 12.09 EPS for the current fiscal year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 11th will be paid a $1.29 dividend. The ex-dividend date is Wednesday, April 10th. This represents a $5.16 dividend on an annualized basis and a yield of 1.68%. Accenture’s dividend payout ratio is presently 46.78%.

Insider Activity at Accenture

In related news, CFO Kathleen R. Mcclure sold 851 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $371.77, for a total value of $316,376.27. Following the transaction, the chief financial officer now owns 50,737 shares of the company’s stock, valued at $18,862,494.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Accenture news, CEO Manish Sharma sold 1,486 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $370.39, for a total transaction of $550,399.54. Following the completion of the sale, the chief executive officer now directly owns 4,503 shares in the company, valued at $1,667,866.17. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kathleen R. Mcclure sold 851 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $371.77, for a total transaction of $316,376.27. Following the sale, the chief financial officer now owns 50,737 shares of the company’s stock, valued at $18,862,494.49. The disclosure for this sale can be found here. Insiders have sold a total of 32,490 shares of company stock valued at $10,592,664 over the last 90 days. 0.07% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ACN has been the subject of a number of research analyst reports. Stifel Nicolaus boosted their target price on Accenture from $363.00 to $395.00 and gave the company a “buy” rating in a research report on Monday, March 18th. BMO Capital Markets cut their price target on Accenture from $385.00 to $375.00 and set a “market perform” rating for the company in a research note on Friday, March 22nd. Redburn Atlantic lifted their price target on Accenture from $410.00 to $445.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Citigroup cut their target price on Accenture from $430.00 to $400.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Finally, Guggenheim began coverage on Accenture in a research note on Tuesday, March 19th. They issued a “buy” rating and a $425.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $387.00.

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.