AlphaStar Capital Management LLC Makes New $209,000 Investment in Accenture plc (NYSE:ACN)

AlphaStar Capital Management LLC acquired a new stake in shares of Accenture plc (NYSE:ACN) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 595 shares of the information technology services provider’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Accenture by 378.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock worth $1,941,219,000 after purchasing an additional 4,345,039 shares during the last quarter. Swedbank AB boosted its position in Accenture by 47.5% during the 4th quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock worth $1,324,029,000 after buying an additional 1,212,011 shares during the period. Assenagon Asset Management S.A. increased its position in Accenture by 2,666.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 715,219 shares of the information technology services provider’s stock valued at $251,607,000 after acquiring an additional 689,366 shares during the period. Holocene Advisors LP bought a new position in shares of Accenture during the third quarter valued at $204,895,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of Accenture by 37,788.5% during the third quarter. International Assets Investment Management LLC now owns 510,358 shares of the information technology services provider’s stock worth $180,401,000 after purchasing an additional 509,011 shares during the period. Institutional investors own 75.14% of the company’s stock.

Insider Activity at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of Accenture stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This trade represents a 42.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Joel Unruch sold 4,750 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $362.78, for a total value of $1,723,205.00. Following the sale, the general counsel now directly owns 20,526 shares of the company’s stock, valued at $7,446,422.28. The trade was a 18.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock valued at $8,316,190 over the last ninety days. Corporate insiders own 0.02% of the company’s stock.

Accenture Stock Down 0.3 %

Shares of NYSE ACN opened at $386.04 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. Accenture plc has a 1 year low of $278.69 and a 1 year high of $398.35. The stock has a market capitalization of $241.58 billion, a P/E ratio of 32.39, a P/E/G ratio of 3.44 and a beta of 1.24. The company has a 50-day moving average price of $362.30 and a 200-day moving average price of $352.18.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The firm had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.27 EPS. On average, equities research analysts forecast that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $5.92 annualized dividend and a dividend yield of 1.53%. Accenture’s dividend payout ratio is currently 49.66%.

Wall Street Analysts Forecast Growth

ACN has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Morgan Stanley lifted their price objective on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Robert W. Baird restated a “neutral” rating and set a $370.00 price target on shares of Accenture in a report on Tuesday, December 3rd. Jefferies Financial Group reduced their price objective on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Finally, UBS Group lifted their target price on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $387.22.

Accenture 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.