Two Point Capital Management Inc. Raises Holdings in Accenture plc (NYSE:ACN)

Two Point Capital Management Inc. lifted its stake in shares of Accenture plc (NYSE:ACN) by 1.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 44,478 shares of the information technology services provider’s stock after acquiring an additional 580 shares during the period. Accenture accounts for about 7.1% of Two Point Capital Management Inc.’s portfolio, making the stock its 3rd largest position. Two Point Capital Management Inc.’s holdings in Accenture were worth $15,608,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ameriprise Financial Inc. lifted its holdings in shares of Accenture by 2.3% in the third quarter. Ameriprise Financial Inc. now owns 4,284,770 shares of the information technology services provider’s stock valued at $1,315,832,000 after purchasing an additional 96,414 shares in the last quarter. Redwood Investments LLC increased its stake in shares of Accenture by 8.3% during the 4th quarter. Redwood Investments LLC now owns 20,227 shares of the information technology services provider’s stock worth $7,098,000 after purchasing an additional 1,542 shares during the last quarter. Chicago Capital LLC grew its stake in Accenture by 284.7% during the fourth quarter. Chicago Capital LLC now owns 12,677 shares of the information technology services provider’s stock valued at $4,449,000 after acquiring an additional 9,382 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Accenture by 33,484.1% during the 4th quarter. International Assets Investment Management LLC now owns 567,572 shares of the information technology services provider’s stock valued at $199,167,000 after buying an additional 565,882 shares in the last quarter. Finally, VELA Investment Management LLC grew its position in Accenture by 4.3% during the third quarter. VELA Investment Management LLC now owns 3,681 shares of the information technology services provider’s stock valued at $1,130,000 after acquiring an additional 153 shares during the last quarter. 75.14% of the stock is owned by institutional investors.

Accenture Trading Down 0.2 %

ACN traded down $0.68 on Friday, hitting $308.32. 2,430,065 shares of the company’s stock were exchanged, compared to its average volume of 2,421,740. Accenture plc has a fifty-two week low of $261.68 and a fifty-two week high of $387.51. The stock has a market cap of $206.80 billion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 2.97 and a beta of 1.19. The firm has a 50-day moving average price of $350.89 and a 200-day moving average price of $341.97.

Accenture (NYSE:ACN) last released its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.11. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The company had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.85 billion. During the same period in the previous year, the company posted $2.69 EPS. Accenture’s revenue was down .1% compared to the same quarter last year. On average, equities analysts predict that Accenture plc will post 12.09 EPS for the current year.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 11th will be issued a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Wednesday, April 10th. Accenture’s dividend payout ratio (DPR) is 46.78%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Mizuho restated a “buy” rating and issued a $398.00 target price (down previously from $426.00) on shares of Accenture in a report on Friday, March 22nd. Stifel Nicolaus raised their price objective on Accenture from $363.00 to $395.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Guggenheim assumed coverage on shares of Accenture in a research note on Tuesday, March 19th. They set a “buy” rating and a $425.00 price objective on the stock. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Finally, Citigroup reduced their price target on shares of Accenture from $430.00 to $400.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $387.00.

Insider Buying and Selling

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the transaction, the insider now owns 13,699 shares in the company, valued at approximately $4,208,606.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the transaction, the insider now directly owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Manish Sharma sold 1,486 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $370.39, for a total value of $550,399.54. Following the completion of the sale, the chief executive officer now directly owns 4,503 shares of the company’s stock, valued at approximately $1,667,866.17. The disclosure for this sale can be found here. Insiders have sold a total of 32,490 shares of company stock valued at $10,592,664 over the last quarter. 0.07% of the stock is currently owned by insiders.

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.