Mill Creek Capital Advisors LLC Increases Stock Position in Accenture plc (NYSE:ACN)

Mill Creek Capital Advisors LLC raised its position in shares of Accenture plc (NYSE:ACN) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,081 shares of the information technology services provider’s stock after acquiring an additional 65 shares during the period. Mill Creek Capital Advisors LLC’s holdings in Accenture were worth $732,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ACN. Morse Asset Management Inc acquired a new stake in shares of Accenture in the third quarter worth $25,000. MidAtlantic Capital Management Inc. acquired a new stake in Accenture in the 3rd quarter valued at $30,000. POM Investment Strategies LLC lifted its stake in shares of Accenture by 64.2% during the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 34 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Accenture in the fourth quarter valued at about $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its position in Accenture by 607.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 85 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Stock Performance

Shares of ACN opened at $386.72 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. Accenture plc has a 1 year low of $278.69 and a 1 year high of $398.35. The firm has a fifty day moving average of $362.30 and a 200-day moving average of $352.34. The company has a market cap of $242.00 billion, a price-to-earnings ratio of 32.44, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping the consensus estimate of $3.43 by $0.16. The firm had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. Accenture’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.27 EPS. As a group, equities analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be paid a $1.48 dividend. The ex-dividend date is Thursday, January 16th. This represents a $5.92 annualized dividend and a dividend yield of 1.53%. Accenture’s payout ratio is 49.66%.

Analyst Ratings Changes

A number of analysts have recently issued reports on ACN shares. BNP Paribas lowered shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective on the stock. in a research note on Wednesday, October 30th. UBS Group upped their price objective on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Robert W. Baird reiterated a “neutral” rating and issued a $370.00 price target on shares of Accenture in a research note on Tuesday, December 3rd. Piper Sandler lifted their price objective on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Finally, Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a research report on Wednesday, January 8th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $387.22.

Insider Activity at Accenture

In other news, CAO Melissa A. Burgum sold 232 shares of Accenture stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total transaction of $91,514.72. Following the transaction, the chief accounting officer now directly owns 8,915 shares in the company, valued at approximately $3,516,610.90. This trade represents a 2.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the sale, the chief executive officer now owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. This trade represents a 42.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,280 shares of company stock worth $8,316,190 over the last ninety days. 0.02% of the stock is currently owned by corporate insiders.

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.