NTV Asset Management LLC Buys 1,851 Shares of Accenture plc (NYSE:ACN)

NTV Asset Management LLC boosted its position in shares of Accenture plc (NYSE:ACN) by 133.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,241 shares of the information technology services provider’s stock after purchasing an additional 1,851 shares during the quarter. NTV Asset Management LLC’s holdings in Accenture were worth $1,137,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Connecticut Wealth Management LLC lifted its position in shares of Accenture by 224.4% in the 4th quarter. Connecticut Wealth Management LLC now owns 7,579 shares of the information technology services provider’s stock worth $2,660,000 after purchasing an additional 5,243 shares during the period. National Bank of Canada FI raised its position in shares of Accenture by 28.7% in the 4th quarter. National Bank of Canada FI now owns 421,961 shares of the information technology services provider’s stock worth $146,118,000 after acquiring an additional 94,149 shares in the last quarter. Alan B Lancz & Associates Inc. purchased a new stake in shares of Accenture during the 4th quarter worth $211,000. Provence Wealth Management Group grew its stake in Accenture by 21.6% in the fourth quarter. Provence Wealth Management Group now owns 1,637 shares of the information technology services provider’s stock valued at $574,000 after purchasing an additional 291 shares during the last quarter. Finally, Legacy Financial Advisors Inc. lifted its position in shares of Accenture by 9.6% during the fourth quarter. Legacy Financial Advisors Inc. now owns 3,538 shares of the information technology services provider’s stock valued at $1,242,000 after buying an additional 311 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Accenture 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 value of $1,536,100.00. Following the sale, the insider now owns 13,699 shares in the company, valued at $4,208,606.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Accenture news, 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 transaction, the chief executive officer now directly owns 4,503 shares in the company, valued at $1,667,866.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total value of $1,536,100.00. Following the completion of the sale, the insider now owns 13,699 shares in the company, valued at approximately $4,208,606.78. The disclosure for this sale can be found here. Insiders have sold 31,639 shares of company stock valued at $10,276,287 over the last ninety days. Company insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ACN shares. Citigroup reduced their price objective 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. Stifel Nicolaus upped their target price on Accenture from $363.00 to $395.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Royal Bank of Canada boosted their price target on Accenture from $374.00 to $381.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Piper Sandler lifted their target price on shares of Accenture from $335.00 to $394.00 and gave the stock a “neutral” rating in a research note on Monday, March 18th. Finally, BMO Capital Markets cut their price target on shares of Accenture from $385.00 to $375.00 and set a “market perform” rating on the stock in a research note on Friday, March 22nd. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Accenture presently has an average rating of “Moderate Buy” and an average target price of $387.00.

Accenture Stock Performance

Shares of NYSE:ACN traded up $3.37 during trading on Friday, reaching $303.71. The stock had a trading volume of 2,767,141 shares, compared to its average volume of 3,150,080. The business has a fifty day moving average price of $342.95 and a 200-day moving average price of $341.73. Accenture plc has a 1-year low of $261.68 and a 1-year high of $387.51. The stock has a market cap of $203.71 billion, a PE ratio of 27.53, a PEG ratio of 2.85 and a beta of 1.21.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.11. The firm had revenue of $15.80 billion for the quarter, compared to analyst estimates of $15.85 billion. Accenture had a net margin of 10.89% and a return on equity of 28.30%. Accenture’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $2.69 earnings per share. Sell-side analysts expect that Accenture plc will post 12.09 earnings per share for the current year.

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 11th will be given a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Wednesday, April 10th. Accenture’s payout ratio is currently 46.78%.

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.