Banco Santander S.A. grew its holdings in Accenture plc (NYSE:ACN – Get Rating) by 1,592.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,100 shares of the information technology services provider’s stock after purchasing an additional 37,730 shares during the quarter. Banco Santander S.A.’s holdings in Accenture were worth $13,523,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Equitable Holdings Inc. grew its position in shares of Accenture by 24.7% in the fourth quarter. Equitable Holdings Inc. now owns 1,334 shares of the information technology services provider’s stock valued at $553,000 after purchasing an additional 264 shares during the last quarter. MBL Wealth LLC acquired a new stake in shares of Accenture in the first quarter valued at about $284,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of Accenture in the first quarter valued at about $112,000. SkyView Investment Advisors LLC lifted its stake in shares of Accenture by 697.5% in the fourth quarter. SkyView Investment Advisors LLC now owns 25,032 shares of the information technology services provider’s stock valued at $797,000 after buying an additional 21,893 shares during the period. Finally, Mayflower Financial Advisors LLC lifted its stake in shares of Accenture by 6.0% in the first quarter. Mayflower Financial Advisors LLC now owns 1,508 shares of the information technology services provider’s stock valued at $509,000 after buying an additional 86 shares during the period. 74.46% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on ACN shares. Cowen reduced their target price on shares of Accenture from $330.00 to $325.00 and set an “outperform” rating for the company in a research note on Friday, June 24th. Robert W. Baird reduced their target price on shares of Accenture from $340.00 to $310.00 and set a “neutral” rating for the company in a research note on Friday, June 24th. Piper Sandler reduced their target price on shares of Accenture from $305.00 to $281.00 and set a “neutral” rating for the company in a research note on Monday, July 18th. Morgan Stanley cut their price target on shares of Accenture from $390.00 to $385.00 and set an “overweight” rating for the company in a research note on Friday, June 24th. Finally, BNP Paribas cut shares of Accenture from an “outperform” rating to a “neutral” rating and set a $320.00 price target for the company. in a research note on Wednesday, June 29th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $358.84.
Insiders Place Their Bets
Accenture Trading Down 1.0 %
Shares of Accenture stock traded down $3.20 during midday trading on Friday, reaching $307.41. The company had a trading volume of 47,114 shares, compared to its average volume of 1,822,650. The company has a market capitalization of $194.45 billion, a price-to-earnings ratio of 29.82, a price-to-earnings-growth ratio of 2.89 and a beta of 1.22. The stock has a fifty day simple moving average of $288.02 and a 200 day simple moving average of $308.87. Accenture plc has a 1-year low of $261.77 and a 1-year high of $417.37.
Accenture (NYSE:ACN – Get Rating) last issued its quarterly earnings results on Thursday, June 23rd. The information technology services provider reported $2.79 earnings per share for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.05). The company had revenue of $16.16 billion during the quarter, compared to analyst estimates of $16.05 billion. Accenture had a net margin of 11.13% and a return on equity of 31.50%. During the same period in the prior year, the business earned $2.40 EPS. Sell-side analysts expect that Accenture plc will post 10.68 earnings per share for the current year.
Accenture Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Thursday, July 14th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Wednesday, July 13th. Accenture’s dividend payout ratio is currently 37.63%.
Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.
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