Accenture plc (NYSE:ACN) Shares Bought by Abbrea Capital LLC

Abbrea Capital LLC boosted its position in shares of Accenture plc (NYSE:ACN) by 1.9% in the 4th quarter, HoldingsChannel reports. The fund owned 4,110 shares of the information technology services provider’s stock after acquiring an additional 75 shares during the period. Abbrea Capital LLC’s holdings in Accenture were worth $1,442,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ACN. Wellington Management Group LLP boosted its holdings in shares of Accenture by 7.0% in the 3rd quarter. Wellington Management Group LLP now owns 11,034,666 shares of the information technology services provider’s stock valued at $3,388,856,000 after buying an additional 720,647 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Accenture by 34.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 2,374,492 shares of the information technology services provider’s stock valued at $729,230,000 after buying an additional 611,376 shares in the last quarter. Alphinity Investment Management Pty Ltd boosted its holdings in shares of Accenture by 71.4% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 1,388,701 shares of the information technology services provider’s stock valued at $487,309,000 after buying an additional 578,610 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Accenture by 33,484.1% in the 4th quarter. International Assets Investment Management LLC now owns 567,572 shares of the information technology services provider’s stock valued at $199,167,000 after buying an additional 565,882 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Accenture by 4.4% in the 3rd quarter. FMR LLC now owns 13,316,028 shares of the information technology services provider’s stock valued at $4,089,485,000 after buying an additional 565,505 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Trading Down 0.3 %

ACN stock traded down $0.99 during mid-day trading on Friday, reaching $308.01. 3,371,567 shares of the stock traded hands, compared to its average volume of 2,435,283. Accenture plc has a 52-week low of $261.68 and a 52-week high of $387.51. The company has a market cap of $206.59 billion, a P/E ratio of 27.92, a P/E/G ratio of 2.97 and a beta of 1.19. The stock’s fifty day moving average is $350.89 and its 200-day moving average is $341.97.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, March 21st. The information technology services provider reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.11. The company had revenue of $15.80 billion during the quarter, compared to analyst estimates of $15.85 billion. Accenture had a net margin of 10.89% and a return on equity of 28.30%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.69 earnings per share. Equities research analysts expect that Accenture plc will post 12.09 earnings per share for the current year.

Accenture Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 11th will be given a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Wednesday, April 10th. Accenture’s dividend payout ratio (DPR) is 46.78%.

Insider Transactions at Accenture

In other Accenture news, CEO Manish Sharma sold 1,486 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $370.39, for a total transaction of $550,399.54. Following the transaction, the chief executive officer now owns 4,503 shares in the company, valued at $1,667,866.17. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Manish Sharma sold 1,486 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $370.39, for a total value of $550,399.54. Following the sale, the chief executive officer now owns 4,503 shares in the company, valued at $1,667,866.17. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Kathleen R. Mcclure sold 2,070 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $370.32, for a total transaction of $766,562.40. Following the completion of the sale, the chief financial officer now owns 47,110 shares in the company, valued at approximately $17,445,775.20. The disclosure for this sale can be found here. Insiders sold 32,490 shares of company stock valued at $10,592,664 over the last three months. 0.07% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ACN has been the topic of several research reports. StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Bank of America lifted their target price on shares of Accenture from $379.00 to $419.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Guggenheim assumed coverage on shares of Accenture in a report on Tuesday, March 19th. They issued a “buy” rating and a $425.00 target price on the stock. TD Cowen decreased their price objective on shares of Accenture from $363.00 to $350.00 and set a “market perform” rating on the stock in a report on Friday, March 22nd. Finally, Morgan Stanley lifted their target price on shares of Accenture from $400.00 to $417.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $387.00.

Accenture Company 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.