Bontempo Ohly Capital Mgmt LLC Takes $2.23 Million Position in Accenture PLC $ACN

Bontempo Ohly Capital Mgmt LLC purchased a new position in Accenture PLC (NYSE:ACN) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 17,926 shares of the information technology services provider’s stock, valued at approximately $2,231,000. Accenture makes up 1.0% of Bontempo Ohly Capital Mgmt LLC’s investment portfolio, making the stock its 27th biggest position.

A number of other hedge funds also recently bought and sold shares of the company. Triumph Capital Management acquired a new position in Accenture in the 3rd quarter worth approximately $26,000. Laurel Wealth Advisors LLC acquired a new stake in Accenture during the 4th quarter valued at $27,000. Dogwood Wealth Management LLC lifted its holdings in shares of Accenture by 147.1% in the second quarter. Dogwood Wealth Management LLC now owns 215 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 128 shares in the last quarter. McMillan Office Inc. acquired a new stake in shares of Accenture in the fourth quarter worth $27,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in shares of Accenture during the fourth quarter valued at $27,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Stock Down 2.9%

ACN opened at $181.58 on Thursday. The company has a market capitalization of $121.26 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 1.93 and a beta of 1.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.34 and a quick ratio of 1.34. Accenture PLC has a fifty-two week low of $118.15 and a fifty-two week high of $291.09. The business has a 50-day moving average of $153.25 and a 200-day moving average of $178.62.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Friday, June 19th. The information technology services provider reported $3.80 EPS for the quarter, beating the consensus estimate of $3.70 by $0.10. The business had revenue of $18.72 billion during the quarter, compared to analysts’ expectations of $18.78 billion. Accenture had a return on equity of 26.47% and a net margin of 10.66%.The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.49 EPS. Equities research analysts forecast that Accenture PLC will post 13.85 EPS for the current fiscal year.

Accenture declared that its Board of Directors has authorized a share buyback plan on Tuesday, June 23rd that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, July 9th were issued a dividend of $1.63 per share. The ex-dividend date was Thursday, July 9th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.6%. Accenture’s dividend payout ratio (DPR) is currently 52.08%.

Insider Activity

In related news, General Counsel Joel Unruch sold 10,498 shares of Accenture stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $162.98, for a total value of $1,710,964.04. Following the completion of the sale, the general counsel owned 17,735 shares of the company’s stock, valued at approximately $2,890,450.30. The trade was a 37.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the subject of several research analyst reports. Guggenheim reduced their price objective on Accenture from $225.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, June 22nd. William Blair cut Accenture from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 18th. BMO Capital Markets reissued a “market perform” rating and issued a $150.00 price target on shares of Accenture in a research report on Friday, June 19th. Mizuho decreased their price target on shares of Accenture from $280.00 to $226.00 and set an “outperform” rating for the company in a report on Tuesday, June 23rd. Finally, Truist Financial lowered their price objective on shares of Accenture from $210.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, June 22nd. Twelve equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Accenture presently has a consensus rating of “Hold” and a consensus price target of $194.19.

Accenture Profile

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.