TCV Trust & Wealth Management Inc. Grows Stock Holdings in Accenture plc (NYSE:ACN)

TCV Trust & Wealth Management Inc. boosted its holdings in Accenture plc (NYSE:ACN) by 3.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 30,722 shares of the information technology services provider’s stock after purchasing an additional 892 shares during the quarter. TCV Trust & Wealth Management Inc.’s holdings in Accenture were worth $10,808,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ACN. Morse Asset Management Inc purchased a new position in shares of Accenture in the 3rd quarter valued at about $25,000. MidAtlantic Capital Management Inc. acquired a new position in Accenture in the third quarter valued at approximately $30,000. POM Investment Strategies LLC increased its stake 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 valued at $31,000 after purchasing an additional 34 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Accenture during the 4th quarter worth approximately $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its holdings in shares of Accenture by 607.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 85 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 sale, the chief executive officer now owns 11,858 shares in the company, valued at $4,677,625.26. This trade represents a 42.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Melissa A. Burgum sold 232 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total transaction of $91,514.72. Following the completion of the transaction, the chief accounting officer now directly owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock valued at $8,316,190 over the last quarter. Company insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

ACN has been the topic of several research analyst reports. Robert W. Baird reiterated a “neutral” rating and set a $370.00 price target on shares of Accenture in a research note on Tuesday, December 3rd. Piper Sandler lifted their target price on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Jefferies Financial Group decreased their target price on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $370.00 to $420.00 in a research report on Friday, December 6th. Finally, Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective for the company in a report on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $387.22.

Accenture Trading Up 0.9 %

Shares of ACN opened at $390.21 on Wednesday. The firm has a 50 day simple moving average of $362.81 and a 200-day simple moving average of $352.74. The stock has a market cap of $244.19 billion, a price-to-earnings ratio of 32.74, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. 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.

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

Accenture Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, January 16th. Accenture’s dividend payout ratio (DPR) is 49.66%.

About Accenture

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.