Texas Capital Bank Wealth Management Services Inc Boosts Stock Holdings in Accenture plc (NYSE:ACN)

Texas Capital Bank Wealth Management Services Inc lifted its position in shares of Accenture plc (NYSE:ACN) by 2.9% during the fourth quarter, Holdings Channel reports. The firm owned 4,271 shares of the information technology services provider’s stock after acquiring an additional 121 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Accenture were worth $1,503,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Morse Asset Management Inc bought a new stake in Accenture during the third quarter worth $25,000. 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 during the period. Kohmann Bosshard Financial Services LLC bought a new position in Accenture during the fourth quarter valued at about $30,000. POM Investment Strategies LLC raised its position in Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 34 shares during the period. Finally, Retirement Wealth Solutions LLC bought a new position in Accenture during the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ACN. Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a research report on Wednesday, January 8th. BMO Capital Markets increased their price target on shares of Accenture to $355.00 and gave the company a “hold” rating in a research report on Wednesday, March 26th. Mizuho decreased their price objective on shares of Accenture from $428.00 to $398.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 19th. Morgan Stanley cut their target price on Accenture from $380.00 to $372.00 and set an “equal weight” rating on the stock in a research note on Monday, March 17th. Finally, Barclays reduced their price objective on shares of Accenture from $415.00 to $390.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $378.23.

Insider Activity

In other news, CEO Julie Spellman Sweet sold 2,497 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.48, for a total value of $885,136.56. Following the sale, the chief executive officer now directly owns 28,866 shares in the company, valued at $10,232,419.68. The trade was a 7.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Melissa A. Burgum sold 1,487 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total value of $527,200.98. Following the sale, the chief accounting officer now directly owns 9,247 shares in the company, valued at $3,278,431.38. The trade was a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,905 shares of company stock worth $8,181,753 over the last ninety days. Corporate insiders own 0.02% of the company’s stock.

Accenture Stock Down 3.5 %

Accenture stock traded down $10.33 during trading hours on Thursday, hitting $288.13. The stock had a trading volume of 822,005 shares, compared to its average volume of 2,981,941. Accenture plc has a 12-month low of $275.01 and a 12-month high of $398.35. The stock has a market capitalization of $180.46 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 3.23 and a beta of 1.32. The stock’s 50-day moving average price is $340.78 and its 200-day moving average price is $352.78. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last released its quarterly earnings data 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. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $16.70 billion for the quarter, compared to analysts’ expectations of $16.64 billion. During the same period last year, the firm posted $2.77 earnings per share. Accenture’s revenue was up 5.7% compared to the same quarter last year. Equities research analysts anticipate that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th will be paid 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 yield of 2.05%. Accenture’s 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.