Dynamic Technology Lab Private Ltd acquired a new stake in Accenture PLC (NYSE:ACN – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 13,141 shares of the information technology services provider’s stock, valued at approximately $3,928,000. Accenture makes up 0.5% of Dynamic Technology Lab Private Ltd’s investment portfolio, making the stock its 9th largest holding.
A number of other hedge funds also recently added to or reduced their stakes in ACN. Kelly Lawrence W & Associates Inc. CA acquired a new position in Accenture during the 1st quarter worth $31,000. RMG Wealth Management LLC acquired a new stake in Accenture during the second quarter worth approximately $33,000. WPG Advisers LLC acquired a new position in Accenture in the first quarter valued at $42,000. Cheviot Value Management LLC purchased a new position in Accenture during the 1st quarter worth approximately $43,000. Finally, Fiduciary Wealth Partners LLC acquired a new position in shares of Accenture in the 1st quarter valued at $45,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.
Accenture Price Performance
ACN opened at $241.22 on Thursday. Accenture PLC has a 1 year low of $229.40 and a 1 year high of $398.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.42 and a current ratio of 1.42. The company’s 50 day simple moving average is $244.09 and its 200 day simple moving average is $271.77. The stock has a market capitalization of $158.83 billion, a PE ratio of 19.85, a P/E/G ratio of 2.16 and a beta of 1.28.
Accenture Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 10th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, October 10th. This is an increase from Accenture’s previous quarterly dividend of $1.48. Accenture’s dividend payout ratio (DPR) is presently 53.66%.
Analyst Ratings Changes
ACN has been the topic of several recent research reports. Royal Bank Of Canada dropped their price target on Accenture from $372.00 to $285.00 and set an “outperform” rating on the stock in a research report on Friday, September 26th. Dbs Bank raised Accenture from a “hold” rating to a “moderate buy” rating in a research note on Monday, October 27th. BNP Paribas Exane cut their target price on shares of Accenture from $300.00 to $255.00 and set a “neutral” rating for the company in a research report on Wednesday, September 24th. Wells Fargo & Company assumed coverage on Accenture in a research report on Tuesday, October 21st. They issued an “equal weight” rating and a $251.00 price objective on the stock. Finally, UBS Group dropped their price objective on Accenture from $363.00 to $315.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $294.25.
View Our Latest Stock Analysis on ACN
Insider Activity
In related news, CEO Ryoji Sekido sold 2,500 shares of the company’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $249.47, for a total transaction of $623,675.00. Following the completion of the sale, the chief executive officer directly owned 1,390 shares of the company’s stock, valued at approximately $346,763.30. This represents a 64.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Julie Spellman Sweet sold 9,000 shares of the business’s stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $249.57, for a total value of $2,246,130.00. Following the transaction, the chief executive officer owned 23,516 shares in the company, valued at approximately $5,868,888.12. This represents a 27.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 33,319 shares of company stock valued at $8,335,225. Company insiders own 0.02% of the company’s stock.
Accenture Profile
Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.
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