Kathmere Capital Management LLC Grows Stake in Accenture plc (NYSE:ACN)

Kathmere Capital Management LLC increased its stake in shares of Accenture plc (NYSE:ACN) by 19.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,486 shares of the information technology services provider’s stock after buying an additional 241 shares during the quarter. Kathmere Capital Management LLC’s holdings in Accenture were worth $515,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ACN. Chilton Capital Management LLC grew its holdings in shares of Accenture by 180.0% during the fourth quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 45 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Accenture during the fourth quarter valued at $27,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Accenture during the fourth quarter valued at $29,000. Atwood & Palmer Inc. boosted its holdings in Accenture by 214.8% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 58 shares during the last quarter. Finally, Halpern Financial Inc. purchased a new stake in Accenture in the fourth quarter valued at $31,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Mizuho lowered their price target on shares of Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Barclays lowered their price target on shares of Accenture from $390.00 to $350.00 and set an “overweight” rating on the stock in a report on Monday, June 17th. Bank of America lowered their price target on shares of Accenture from $419.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. StockNews.com downgraded shares of Accenture from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Accenture from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $409.00 to $295.00 in a research report on Wednesday, May 15th. Twelve analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $352.74.

Insider Activity

In other news, CFO Kathleen R. Mcclure sold 4,500 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $316.00, for a total value of $1,422,000.00. Following the completion of the sale, the chief financial officer now owns 42,781 shares of the company’s stock, valued at approximately $13,518,796. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Kathleen R. Mcclure sold 4,500 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $316.00, for a total transaction of $1,422,000.00. Following the completion of the transaction, the chief financial officer now owns 42,781 shares of the company’s stock, valued at approximately $13,518,796. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Joel Unruch sold 4,333 shares of the stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $316.12, for a total transaction of $1,369,747.96. Following the transaction, the general counsel now directly owns 30,702 shares of the company’s stock, valued at approximately $9,705,516.24. The disclosure for this sale can be found here. Insiders sold a total of 20,083 shares of company stock valued at $6,302,285 in the last 90 days. Company insiders own 0.07% of the company’s stock.

Accenture Trading Up 0.1 %

ACN stock opened at $303.41 on Friday. The company has a market cap of $203.51 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 3.38 and a beta of 1.21. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51. The firm has a 50-day moving average of $300.17 and a two-hundred day moving average of $336.10.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share for the quarter, missing the consensus estimate of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The firm had revenue of $16.47 billion during the quarter, compared to analysts’ expectations of $16.55 billion. During the same period last year, the company earned $3.19 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. As a group, equities analysts forecast that Accenture plc will post 11.95 earnings per share for the current year.

Accenture Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th will be paid a $1.29 dividend. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $5.16 annualized dividend and a dividend yield of 1.70%. Accenture’s dividend payout ratio (DPR) is 47.25%.

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.