OMERS ADMINISTRATION Corp Reduces Stake in Accenture PLC $ACN

OMERS ADMINISTRATION Corp lowered its holdings in Accenture PLC (NYSE:ACNFree Report) by 87.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 41,690 shares of the information technology services provider’s stock after selling 304,282 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Accenture were worth $11,185,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Accenture by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 66,070,930 shares of the information technology services provider’s stock valued at $17,726,831,000 after purchasing an additional 854,361 shares during the period. State Street Corp lifted its stake in shares of Accenture by 0.5% in the 4th quarter. State Street Corp now owns 28,264,675 shares of the information technology services provider’s stock valued at $7,583,462,000 after purchasing an additional 129,610 shares during the period. Capital International Investors lifted its stake in shares of Accenture by 2.0% in the 4th quarter. Capital International Investors now owns 17,471,554 shares of the information technology services provider’s stock valued at $4,687,867,000 after purchasing an additional 343,420 shares during the period. Geode Capital Management LLC lifted its stake in shares of Accenture by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 14,656,436 shares of the information technology services provider’s stock valued at $3,922,212,000 after purchasing an additional 218,719 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Accenture by 5.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,693,994 shares of the information technology services provider’s stock valued at $2,869,199,000 after buying an additional 546,198 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Stock Performance

Shares of ACN opened at $165.39 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.34 and a quick ratio of 1.34. Accenture PLC has a one year low of $155.82 and a one year high of $317.05. The firm has a market capitalization of $110.06 billion, a P/E ratio of 13.55, a PEG ratio of 1.62 and a beta of 1.09. The business has a fifty day moving average of $181.07 and a 200 day moving average of $221.09.

Accenture (NYSE:ACNGet Free Report) last issued its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The company had revenue of $18.04 billion during the quarter, compared to analyst estimates of $17.80 billion. During the same quarter in the previous year, the company posted $2.82 earnings per share. Accenture’s revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Accenture PLC will post 13.84 EPS for the current year.

Accenture Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 9th were given a dividend of $1.63 per share. The ex-dividend date was Thursday, April 9th. This represents a $6.52 annualized dividend and a yield of 3.9%. Accenture’s payout ratio is 53.40%.

Analyst Upgrades and Downgrades

ACN has been the subject of a number of analyst reports. Piper Sandler set a $282.00 price objective on Accenture in a research report on Thursday, March 5th. Guggenheim reduced their price objective on Accenture from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, June 11th. Stifel Nicolaus reduced their price objective on Accenture from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, June 3rd. TD Cowen reduced their price objective on Accenture from $282.00 to $258.00 and set a “buy” rating for the company in a research report on Monday, June 8th. Finally, Truist Financial lowered Accenture from a “buy” rating to a “hold” rating and reduced their price objective for the company from $260.00 to $210.00 in a research report on Monday, June 1st. Sixteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $254.04.

Read Our Latest Analysis on ACN

Insiders Place Their Bets

In related news, CEO Atsushi Egawa sold 4,872 shares of Accenture stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $177.14, for a total transaction of $863,026.08. Following the transaction, the chief executive officer directly owned 12,802 shares in the company, valued at approximately $2,267,746.28. The trade was a 27.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.02% of the company’s stock.

Key Headlines Impacting Accenture

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Accenture Profile

(Free Report)

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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