HighTower Advisors LLC decreased its position in shares of Accenture PLC (NYSE:ACN – Free Report) by 16.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 397,200 shares of the information technology services provider’s stock after selling 79,209 shares during the period. HighTower Advisors LLC’s holdings in Accenture were worth $106,569,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ACN. Running Oak Capital LLC raised its stake in Accenture by 14.3% in the third quarter. Running Oak Capital LLC now owns 57,541 shares of the information technology services provider’s stock valued at $14,190,000 after buying an additional 7,190 shares during the last quarter. Weitz Investment Management Inc. raised its stake in Accenture by 28.8% in the third quarter. Weitz Investment Management Inc. now owns 160,550 shares of the information technology services provider’s stock valued at $39,592,000 after buying an additional 35,900 shares during the last quarter. Teacher Retirement System of Texas raised its stake in Accenture by 27.7% in the fourth quarter. Teacher Retirement System of Texas now owns 282,340 shares of the information technology services provider’s stock valued at $75,752,000 after buying an additional 61,314 shares during the last quarter. Public Sector Pension Investment Board raised its stake in Accenture by 180.4% in the third quarter. Public Sector Pension Investment Board now owns 404,680 shares of the information technology services provider’s stock valued at $99,794,000 after buying an additional 260,357 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Accenture by 197.2% in the fourth quarter. Sequoia Financial Advisors LLC now owns 141,484 shares of the information technology services provider’s stock worth $37,960,000 after buying an additional 93,880 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, CEO Atsushi Egawa sold 4,872 shares of Accenture stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 12,802 shares in the company, valued at approximately $2,267,746.28. This trade represents a 27.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.02% of the company’s stock.
Accenture Trading Down 0.6%
Accenture (NYSE:ACN – Get Free Report) last issued its earnings results on Friday, March 20th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The firm had revenue of $18.04 billion during the quarter, compared to analysts’ expectations of $17.80 billion. During the same quarter last year, the company posted $2.82 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts predict that Accenture PLC will post 13.87 earnings per share for the current year.
Accenture Dividend Announcement
The business also recently declared 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. This represents a $6.52 annualized dividend and a yield of 3.7%. The ex-dividend date was Thursday, April 9th. Accenture’s dividend payout ratio (DPR) is currently 53.40%.
Wall Street Analysts Forecast Growth
ACN has been the subject of a number of research analyst reports. UBS Group reaffirmed a “buy” rating on shares of Accenture in a report on Tuesday, March 17th. HSBC decreased their price target on shares of Accenture from $220.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday, April 14th. TD Cowen decreased their price target on shares of Accenture from $282.00 to $275.00 and set a “buy” rating for the company in a report on Monday, March 16th. Truist Financial reduced their price objective on Accenture from $317.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Finally, Morgan Stanley reduced their price objective on Accenture from $320.00 to $240.00 and set an “overweight” rating for the company in a research note on Monday, March 16th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Accenture has an average rating of “Moderate Buy” and an average target price of $274.50.
Get Our Latest Stock Report on ACN
Accenture Company Profile
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.
Read More
- Five stocks we like better than Accenture
- HIVE Weaponizes Power for an AI Pivot
- A Deep Dive Into NVIDIA’s Latest Portfolio Moves
- Brady Corp Wires Up a Massive AI-Powered Breakout
- Why Home Depot’s Sell-Off Could Become a Huge Opportunity
Want to see what other hedge funds are holding ACN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Accenture PLC (NYSE:ACN – Free Report).
Receive News & Ratings for Accenture Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture and related companies with MarketBeat.com's FREE daily email newsletter.
