Core Alternative Capital Sells 1,987 Shares of Accenture plc (NYSE:ACN)

Core Alternative Capital decreased its holdings in Accenture plc (NYSE:ACN) by 8.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,595 shares of the information technology services provider’s stock after selling 1,987 shares during the period. Accenture comprises about 1.5% of Core Alternative Capital’s investment portfolio, making the stock its 23rd biggest holding. Core Alternative Capital’s holdings in Accenture were worth $7,245,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Morse Asset Management Inc purchased a new position in Accenture during the third quarter valued at $25,000. MidAtlantic Capital Management Inc. bought a new position in shares of Accenture in the third quarter worth about $30,000. POM Investment Strategies LLC boosted its stake in shares of Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 34 shares during the period. Retirement Wealth Solutions LLC bought a new position in Accenture during the fourth quarter valued at approximately $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its stake in Accenture by 607.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 85 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Accenture Stock Up 0.2 %

Accenture stock opened at $386.72 on Tuesday. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. The stock’s fifty day simple moving average is $362.30 and its 200-day simple moving average is $352.34. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $242.00 billion, a P/E ratio of 32.44, a P/E/G ratio of 3.44 and a beta of 1.24.

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

Accenture Dividend Announcement

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

Insider Activity at Accenture

In related news, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the transaction, the chief executive officer now owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This represents a 42.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Angie Y. Park sold 685 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.38, for a total value of $242,750.30. Following the completion of the transaction, the chief financial officer now directly owns 8,674 shares in the company, valued at $3,073,892.12. This trade represents a 7.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock valued at $8,316,190 over the last quarter. 0.02% of the stock is owned by insiders.

Analysts Set New Price Targets

ACN has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Morgan Stanley increased their price target on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. BMO Capital Markets increased their price target on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Finally, Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a report on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $387.22.

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.