Tower Research Capital LLC TRC Has $13.98 Million Stake in Accenture plc (NYSE:ACN)

by · The Cerbat Gem

Tower Research Capital LLC TRC raised its holdings in shares of Accenture plc (NYSE:ACN – Free Report) by 50.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 39,746 shares of the information technology services provider’s stock after buying an additional 13,342 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Accenture were worth $13,982,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ACN. Morse Asset Management Inc acquired a new position in shares of Accenture during the third quarter valued at about $25,000. FPC Investment Advisory Inc. increased its position in shares of Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 28 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in Accenture in the 4th quarter valued at $30,000. POM Investment Strategies LLC boosted its position in shares of Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 34 shares in the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Accenture in the 4th quarter valued at approximately $34,000. Institutional investors own 75.14% of the company’s stock.

Insider Activity

In other Accenture news, insider Angela Beatty sold 169 shares of the stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.90, for a total value of $47,641.10. Following the completion of the sale, the insider now owns 5,364 shares in the company, valued at $1,512,111.60. This trade represents a 3.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Melissa A. Burgum sold 1,487 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the completion of the sale, the chief accounting officer now owns 9,247 shares of the company’s stock, valued at $3,278,431.38. This trade represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,778 shares of company stock worth $8,408,087 in the last quarter. Corporate insiders own 0.02% of the company’s stock.

Accenture Trading Down 1.0 %

Shares of NYSE:ACN opened at $282.28 on Friday. The firm has a market cap of $176.80 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 3.23 and a beta of 1.32. 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 plc has a 12 month low of $275.01 and a 12 month high of $398.35. The company’s fifty day simple moving average is $326.22 and its 200 day simple moving average is $349.68.

Accenture (NYSE:ACN – Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.01. The business had revenue of $16.70 billion during the quarter, compared to the consensus estimate of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. Accenture’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the company earned $2.77 earnings per share. As a group, research analysts forecast that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 10th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, April 10th. Accenture’s dividend payout ratio (DPR) is currently 48.89%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ACN. Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective for the company in a research note on Wednesday, January 8th. StockNews.com downgraded Accenture from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Mizuho decreased their target price on Accenture from $428.00 to $398.00 and set an “outperform” rating on the stock in a report on Wednesday, March 19th. Piper Sandler reduced their price target on shares of Accenture from $364.00 to $355.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Royal Bank of Canada lowered their price target on shares of Accenture from $399.00 to $392.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Eight analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $377.82.

View Our Latest Analysis on ACN

Accenture Profile

(Free Report)

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.

Further Reading

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