Evergreen Capital Management LLC Purchases 3,440 Shares of Accenture PLC $ACN

Evergreen Capital Management LLC raised its position in shares of Accenture PLC (NYSE:ACN) by 12.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,713 shares of the information technology services provider’s stock after acquiring an additional 3,440 shares during the period. Evergreen Capital Management LLC’s holdings in Accenture were worth $8,509,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ACN. Capital International Investors boosted its holdings in shares of Accenture by 41.1% during the third quarter. Capital International Investors now owns 17,128,134 shares of the information technology services provider’s stock worth $4,223,839,000 after acquiring an additional 4,984,930 shares during the period. Voloridge Investment Management LLC bought a new stake in shares of Accenture during the third quarter worth approximately $311,694,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Accenture by 12.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,147,796 shares of the information technology services provider’s stock worth $2,502,446,000 after acquiring an additional 1,148,970 shares during the period. Capital World Investors bought a new stake in shares of Accenture in the third quarter valued at approximately $268,578,000. Finally, First Trust Advisors LP boosted its stake in shares of Accenture by 85.9% in the third quarter. First Trust Advisors LP now owns 2,041,945 shares of the information technology services provider’s stock valued at $503,544,000 after buying an additional 943,371 shares during the period. Institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the subject of several recent research reports. Citigroup cut their price target on Accenture from $266.00 to $215.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. JPMorgan Chase & Co. boosted their price target on Accenture from $243.00 to $247.00 and gave the company an “overweight” rating in a research note on Friday, March 20th. Wells Fargo & Company boosted their price target on Accenture from $251.00 to $275.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 14th. Piper Sandler set a $282.00 price target on Accenture in a research note on Thursday, March 5th. Finally, Truist Financial cut their price target on Accenture from $317.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $274.50.

Accenture Stock Down 1.3%

Shares of ACN opened at $195.17 on Tuesday. Accenture PLC has a one year low of $177.50 and a one year high of $325.71. The company has a market cap of $129.87 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.88 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a 50 day simple moving average of $203.34 and a two-hundred day simple moving average of $239.47.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The business had revenue of $18.04 billion during the quarter, compared to the consensus estimate of $17.80 billion. During the same period in the previous year, the business earned $2.82 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. Research analysts forecast that Accenture PLC will post 13.87 EPS for the current fiscal year.

Accenture Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 9th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 3.3%. The ex-dividend date is Thursday, April 9th. Accenture’s payout ratio is currently 53.40%.

Insider Buying and Selling at Accenture

In other Accenture news, COO Catherine Kiernan Hogan sold 660 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $280.93, for a total transaction of $185,413.80. Following the completion of the transaction, the chief operating officer directly owned 12,688 shares in the company, valued at $3,564,439.84. The trade was a 4.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Joel Unruch sold 1,026 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $281.70, for a total transaction of $289,024.20. Following the transaction, the general counsel owned 27,181 shares of the company’s stock, valued at approximately $7,656,887.70. This represents a 3.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 15,331 shares of company stock valued at $4,048,871. 0.02% of the stock is currently owned by insiders.

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.