IFP Advisors Inc raised its holdings in shares of Accenture PLC (NYSE:ACN – Free Report) by 3.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,615 shares of the information technology services provider’s stock after purchasing an additional 429 shares during the period. IFP Advisors Inc’s holdings in Accenture were worth $3,474,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in ACN. Kelly Lawrence W & Associates Inc. CA bought a new stake in Accenture during the first quarter valued at $31,000. Inlight Wealth Management LLC bought a new stake in Accenture during the first quarter valued at $32,000. RMG Wealth Management LLC bought a new stake in Accenture during the second quarter valued at $33,000. WPG Advisers LLC bought a new stake in Accenture during the first quarter valued at $42,000. Finally, Cheviot Value Management LLC bought a new stake in Accenture during the first quarter valued at $43,000. Institutional investors own 75.14% of the company’s stock.
Accenture Stock Performance
ACN stock opened at $241.11 on Friday. The company has a market capitalization of $151.01 billion, a P/E ratio of 19.84, a PEG ratio of 2.19 and a beta of 1.28. The company has a 50-day simple moving average of $247.45 and a 200 day simple moving average of $281.57. Accenture PLC has a fifty-two week low of $229.40 and a fifty-two week high of $398.35. The company has a quick ratio of 1.46, a current ratio of 1.42 and a debt-to-equity ratio of 0.16.
Accenture Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 10th. This is a positive change from Accenture’s previous quarterly dividend of $1.48. Accenture’s dividend payout ratio is currently 48.72%.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on ACN shares. Mizuho reduced their price target on shares of Accenture from $348.00 to $309.00 and set an “outperform” rating for the company in a report on Monday, September 29th. Morgan Stanley reduced their price target on shares of Accenture from $325.00 to $271.00 and set an “equal weight” rating for the company in a report on Tuesday, September 9th. HSBC reduced their price target on shares of Accenture from $240.00 to $215.00 in a report on Friday, September 26th. Jefferies Financial Group reissued a “hold” rating on shares of Accenture in a report on Tuesday, September 30th. Finally, Barclays reduced their price target on shares of Accenture from $390.00 to $360.00 and set an “overweight” rating for the company in a report on Monday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $300.22.
View Our Latest Stock Report on Accenture
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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