Two Point Capital Management Inc. Acquires 580 Shares of Accenture plc (NYSE:ACN)

Two Point Capital Management Inc. increased its holdings in shares of Accenture plc (NYSE:ACN) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,478 shares of the information technology services provider’s stock after purchasing an additional 580 shares during the period. Accenture makes up 7.1% of Two Point Capital Management Inc.’s portfolio, making the stock its 3rd biggest position. Two Point Capital Management Inc.’s holdings in Accenture were worth $15,608,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ACN. International Assets Investment Management LLC raised its stake in Accenture by 3.2% in the third quarter. International Assets Investment Management LLC now owns 1,690 shares of the information technology services provider’s stock valued at $531,000 after buying an additional 52 shares during the period. Founders Financial Securities LLC bought a new stake in Accenture during the third quarter worth $327,000. Newbridge Financial Services Group Inc. boosted its stake in shares of Accenture by 23.1% during the third quarter. Newbridge Financial Services Group Inc. now owns 320 shares of the information technology services provider’s stock valued at $98,000 after purchasing an additional 60 shares in the last quarter. KFG Wealth Management LLC increased its holdings in Accenture by 16.3% in the third quarter. KFG Wealth Management LLC now owns 1,382 shares of the information technology services provider’s stock valued at $424,000 after purchasing an additional 194 shares during the period. Finally, Strategic Blueprint LLC increased its stake in shares of Accenture by 4.1% in the third quarter. Strategic Blueprint LLC now owns 2,298 shares of the information technology services provider’s stock valued at $706,000 after buying an additional 90 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Stock Down 0.2 %

Shares of Accenture stock traded down $0.68 during trading on Friday, reaching $308.32. The company’s stock had a trading volume of 2,430,065 shares, compared to its average volume of 2,421,740. The company has a market capitalization of $206.80 billion, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 2.97 and a beta of 1.19. Accenture plc has a 12-month low of $261.68 and a 12-month high of $387.51. The business 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 EPS for the quarter, topping the consensus estimate of $2.66 by $0.11. Accenture had a net margin of 10.89% and a return on equity of 28.30%. The firm had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.85 billion. During the same period in the previous year, the company earned $2.69 EPS. Accenture’s revenue for the quarter was down .1% on a year-over-year basis. Research analysts predict that Accenture plc will post 12.09 EPS for the current fiscal year.

Accenture Dividend Announcement

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

Insiders Place Their Bets

In other news, CFO Kathleen R. Mcclure sold 851 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $371.77, for a total value of $316,376.27. Following the completion of the sale, the chief financial officer now owns 50,737 shares in the company, valued at $18,862,494.49. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Kathleen R. Mcclure sold 851 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $371.77, for a total value of $316,376.27. Following the completion of the sale, the chief financial officer now owns 50,737 shares of the company’s stock, valued at $18,862,494.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Manish Sharma sold 1,486 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $370.39, for a total transaction of $550,399.54. Following the completion of the sale, the chief executive officer now owns 4,503 shares of the company’s stock, valued at $1,667,866.17. The disclosure for this sale can be found here. Insiders have sold 32,490 shares of company stock valued at $10,592,664 over the last three months. Company insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ACN. Robert W. Baird boosted their price objective on Accenture from $364.00 to $375.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. BNP Paribas raised shares of Accenture from a “neutral” rating to an “outperform” rating and set a $440.00 price target for the company in a research note on Wednesday, January 17th. StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. UBS Group raised their target price on shares of Accenture from $365.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Finally, Morgan Stanley upped their price target on shares of Accenture from $400.00 to $417.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and a consensus target price of $387.00.

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.