FormulaFolio Investments LLC acquired a new stake in Accenture plc (NYSE:ACN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,473 shares of the information technology services provider’s stock, valued at approximately $646,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank acquired a new position in Accenture in the 4th quarter valued at $1,577,735,000. Sage Private Wealth Group LLC acquired a new stake in shares of Accenture during the 4th quarter worth $129,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Accenture by 303,091.5% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 142,500 shares of the information technology services provider’s stock worth $37,222,000 after purchasing an additional 142,453 shares in the last quarter. Perpetual Investment Management Limited acquired a new stake in shares of Accenture during the 4th quarter worth $652,000. Finally, Main Street Financial Solutions LLC acquired a new stake in shares of Accenture during the 4th quarter worth $321,000. 70.99% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on ACN. Bank of America upgraded Accenture from a “neutral” rating to a “buy” rating and set a $300.00 price objective for the company in a research report on Wednesday, March 24th. Deutsche Bank Aktiengesellschaft upped their price objective on Accenture from $278.00 to $310.00 and gave the stock a “buy” rating in a research report on Tuesday. Wells Fargo & Company initiated coverage on Accenture in a research report on Friday, December 18th. They issued an “equal weight” rating for the company. Royal Bank of Canada increased their target price on Accenture from $278.00 to $301.00 in a research report on Friday, March 19th. Finally, Piper Sandler increased their target price on Accenture from $210.00 to $282.00 and gave the company a “neutral” rating in a research report on Friday, December 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the stock. Accenture presently has an average rating of “Buy” and a consensus target price of $267.96.
In other Accenture news, Chairman David Rowland sold 7,966 shares of the business’s stock in a transaction on Wednesday, February 3rd. The stock was sold at an average price of $248.51, for a total value of $1,979,630.66. Also, COO Johan Deblaere sold 8,000 shares of the business’s stock in a transaction on Friday, March 26th. The shares were sold at an average price of $280.00, for a total value of $2,240,000.00. Following the completion of the sale, the chief operating officer now owns 52,579 shares in the company, valued at $14,722,120. The disclosure for this sale can be found here. Insiders have sold 39,482 shares of company stock worth $10,186,569 over the last quarter. 0.07% of the stock is currently owned by corporate insiders.
ACN stock opened at $282.57 on Thursday. Accenture plc has a twelve month low of $165.07 and a twelve month high of $283.63. The stock’s 50 day moving average is $263.45 and its 200-day moving average is $248.56. The firm has a market capitalization of $179.76 billion, a PE ratio of 34.80, a P/E/G ratio of 3.09 and a beta of 1.08.
Accenture (NYSE:ACN) last posted its earnings results on Wednesday, March 17th. The information technology services provider reported $2.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.13. Accenture had a return on equity of 29.32% and a net margin of 11.74%. The company had revenue of $12.09 billion for the quarter, compared to analyst estimates of $11.83 billion. During the same quarter last year, the company earned $1.91 earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, research analysts expect that Accenture plc will post 8.22 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 14th. Investors of record on Thursday, April 15th will be issued a dividend of $0.88 per share. The ex-dividend date is Wednesday, April 14th. This represents a $3.52 dividend on an annualized basis and a yield of 1.25%. Accenture’s dividend payout ratio (DPR) is currently 47.18%.
Accenture Company Profile
Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company also provides outsourcing services. It serves communications, media, high tech, software, and platform companies; banking, capital market, and insurance industries; and consumer goods, retail, travel services, industrial, and life science industries, as well as clients in health, public service, chemicals and natural resources, energy, and utilities sectors.
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