Executive Wealth Management LLC increased its holdings in Accenture plc (NYSE:ACN) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,471 shares of the information technology services provider’s stock after acquiring an additional 385 shares during the period. Executive Wealth Management LLC’s holdings in Accenture were worth $4,626,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. AXA grew its holdings in Accenture by 3.5% during the first quarter. AXA now owns 563,428 shares of the information technology services provider’s stock valued at $91,985,000 after purchasing an additional 19,020 shares during the period. Engineers Gate Manager LP bought a new position in Accenture during the first quarter valued at $477,000. Clearbridge Investments LLC grew its holdings in Accenture by 1.8% during the first quarter. Clearbridge Investments LLC now owns 66,135 shares of the information technology services provider’s stock valued at $10,797,000 after purchasing an additional 1,183 shares during the period. Pathstone Family Office LLC grew its holdings in Accenture by 50.7% during the first quarter. Pathstone Family Office LLC now owns 612 shares of the information technology services provider’s stock valued at $100,000 after purchasing an additional 206 shares during the period. Finally, State Street Corp grew its holdings in Accenture by 0.9% during the first quarter. State Street Corp now owns 26,989,659 shares of the information technology services provider’s stock valued at $4,406,390,000 after purchasing an additional 235,852 shares during the period. 73.44% of the stock is owned by institutional investors.
ACN traded down $9.99 during midday trading on Monday, hitting $219.71. The stock had a trading volume of 53,549 shares, compared to its average volume of 1,782,384. The company has a market cap of $146.27 billion, a P/E ratio of 30.22, a price-to-earnings-growth ratio of 2.86 and a beta of 1.06. The business has a fifty day moving average of $229.90 and a 200 day moving average of $211.74. Accenture plc has a 1 year low of $137.15 and a 1 year high of $247.82.
Accenture (NYSE:ACN) last issued its earnings results on Thursday, September 24th. The information technology services provider reported $1.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by ($0.03). Accenture had a return on equity of 30.17% and a net margin of 11.52%. The firm had revenue of $10.84 billion during the quarter, compared to analysts’ expectations of $10.93 billion. During the same period in the prior year, the company earned $1.74 EPS. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, research analysts expect that Accenture plc will post 8.03 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 13th will be given a $0.88 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $3.52 annualized dividend and a yield of 1.60%. This is an increase from Accenture’s previous quarterly dividend of $0.80. Accenture’s payout ratio is presently 47.18%.
Several equities research analysts have issued reports on ACN shares. Citigroup increased their target price on Accenture from $247.00 to $269.00 and gave the stock a “buy” rating in a research report on Sunday, September 20th. Stifel Nicolaus increased their target price on Accenture from $236.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 17th. Piper Sandler increased their target price on Accenture from $206.00 to $229.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 22nd. Robert W. Baird increased their target price on Accenture from $222.00 to $240.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 22nd. Finally, JPMorgan Chase & Co. dropped their target price on Accenture from $256.00 to $252.00 and set an “overweight” rating on the stock in a research report on Friday, September 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $231.58.
In other Accenture news, CAO Richard P. Clark sold 1,847 shares of the business’s stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $230.59, for a total value of $425,899.73. Following the completion of the sale, the chief accounting officer now owns 12,225 shares in the company, valued at $2,818,962.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jean-Marc Ollagnier sold 450 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $222.29, for a total value of $100,030.50. Following the completion of the sale, the insider now owns 171,474 shares of the company’s stock, valued at approximately $38,116,955.46. The disclosure for this sale can be found here. Insiders sold 30,666 shares of company stock valued at $7,039,426 in the last quarter. Corporate insiders own 0.10% of the company’s stock.
Accenture Company Profile
Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services for clients to 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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