Assenagon Asset Management S.A. boosted its stake in Accenture Plc (NYSE:ACN) by 133.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 562,088 shares of the information technology services provider’s stock after acquiring an additional 320,967 shares during the quarter. Accenture comprises about 0.7% of Assenagon Asset Management S.A.’s holdings, making the stock its 19th largest holding. Assenagon Asset Management S.A. owned approximately 0.09% of Accenture worth $118,359,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. McIlrath & Eck LLC boosted its holdings in Accenture by 125.0% in the 3rd quarter. McIlrath & Eck LLC now owns 135 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 75 shares during the period. Knuff & Co LLC acquired a new position in shares of Accenture in the 3rd quarter valued at approximately $26,000. Gradient Investments LLC raised its position in shares of Accenture by 2,188.9% in the 4th quarter. Gradient Investments LLC now owns 206 shares of the information technology services provider’s stock valued at $43,000 after purchasing an additional 197 shares in the last quarter. Quantum Capital Management acquired a new position in shares of Accenture in the 3rd quarter valued at approximately $46,000. Finally, HWG Holdings LP acquired a new position in shares of Accenture in the 3rd quarter valued at approximately $59,000. Hedge funds and other institutional investors own 73.65% of the company’s stock.
In other Accenture news, CAO Richard P. Clark sold 2,752 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $185.70, for a total value of $511,046.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman David Rowland sold 4,725 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $185.15, for a total value of $874,833.75. Following the completion of the sale, the chairman now directly owns 21,500 shares in the company, valued at $3,980,725. The disclosure for this sale can be found here. Insiders sold 37,014 shares of company stock worth $6,859,750 over the last ninety days. 0.10% of the stock is owned by corporate insiders.
A number of equities analysts have issued reports on the company. KeyCorp upped their target price on Accenture from $208.00 to $219.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Wells Fargo & Co upped their target price on Accenture from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th. ValuEngine lowered Accenture from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Cantor Fitzgerald set a $215.00 target price on Accenture and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, Redburn Partners assumed coverage on Accenture in a research report on Monday, September 23rd. They issued a “buy” rating and a $227.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. Accenture currently has a consensus rating of “Buy” and a consensus target price of $212.18.
Shares of ACN stock traded down $0.09 on Friday, hitting $208.89. 108,435 shares of the stock traded hands, compared to its average volume of 2,372,618. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.39 and a quick ratio of 1.39. The company has a market capitalization of $132.38 billion, a PE ratio of 28.39, a PEG ratio of 2.57 and a beta of 1.05. Accenture Plc has a 1-year low of $147.24 and a 1-year high of $213.25. The company’s fifty day moving average is $206.58 and its 200 day moving average is $195.61.
Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $2.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.99 by $0.10. The business had revenue of $11.36 billion for the quarter, compared to analyst estimates of $11.15 billion. Accenture had a return on equity of 33.35% and a net margin of 11.06%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.96 EPS. As a group, equities research analysts expect that Accenture Plc will post 7.82 EPS for the current year.
The business also recently announced a semi-annual dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be given a $0.80 dividend. This represents a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, January 15th. Accenture’s dividend payout ratio is presently 43.48%.
Accenture Company Profile
Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.
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