Dynamic Technology Lab Private Ltd acquired a new stake in shares of Accenture PLC (NYSE:ACN – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,141 shares of the information technology services provider’s stock, valued at approximately $3,928,000. Accenture makes up about 0.5% of Dynamic Technology Lab Private Ltd’s holdings, making the stock its 9th biggest holding.
Several other institutional investors and hedge funds have also made changes to their positions in ACN. Brighton Jones LLC raised its stake in Accenture by 36.2% during the fourth quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider’s stock worth $6,486,000 after acquiring an additional 4,905 shares during the period. Ignite Planners LLC raised its position in shares of Accenture by 6.6% during the 1st quarter. Ignite Planners LLC now owns 856 shares of the information technology services provider’s stock worth $257,000 after purchasing an additional 53 shares during the period. Proficio Capital Partners LLC lifted its holdings in shares of Accenture by 3.9% in the 1st quarter. Proficio Capital Partners LLC now owns 2,542 shares of the information technology services provider’s stock worth $793,000 after purchasing an additional 96 shares during the last quarter. Legato Capital Management LLC increased its position in Accenture by 31.4% in the first quarter. Legato Capital Management LLC now owns 15,153 shares of the information technology services provider’s stock worth $4,728,000 after buying an additional 3,619 shares during the period. Finally, Madison Asset Management LLC lifted its stake in Accenture by 0.3% in the first quarter. Madison Asset Management LLC now owns 305,935 shares of the information technology services provider’s stock valued at $95,464,000 after buying an additional 847 shares during the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.
Accenture Stock Performance
Shares of Accenture stock opened at $241.22 on Thursday. Accenture PLC has a 12 month low of $229.40 and a 12 month high of $398.35. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.16. The stock has a market cap of $158.83 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 2.16 and a beta of 1.28. The business has a fifty day simple moving average of $244.09 and a 200-day simple moving average of $271.77.
Accenture Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 10th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, October 10th. This is a positive change from Accenture’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a yield of 2.7%. Accenture’s payout ratio is 53.66%.
Insider Buying and Selling at Accenture
In other Accenture news, CEO Ryoji Sekido sold 2,500 shares of the company’s stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $249.47, for a total value of $623,675.00. Following the transaction, the chief executive officer directly owned 1,390 shares of the company’s stock, valued at $346,763.30. This represents a 64.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Manish Sharma sold 6,902 shares of Accenture stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $250.01, for a total value of $1,725,569.02. Following the sale, the insider owned 1,860 shares of the company’s stock, valued at approximately $465,018.60. This represents a 78.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 33,319 shares of company stock worth $8,335,225 over the last 90 days. 0.02% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on ACN shares. Jefferies Financial Group reaffirmed a “hold” rating on shares of Accenture in a report on Tuesday, September 30th. BMO Capital Markets decreased their target price on shares of Accenture from $325.00 to $270.00 and set a “market perform” rating for the company in a research report on Friday, September 26th. Susquehanna dropped their price target on shares of Accenture from $330.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, September 18th. Mizuho decreased their price objective 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. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Accenture from $260.00 to $235.00 and set a “hold” rating for the company in a research note on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $294.25.
Read Our Latest Research Report on ACN
About Accenture
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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