Accenture PLC $ACN Shares Sold by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. lessened its stake in shares of Accenture PLC (NYSE:ACNFree Report) by 10.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 778,679 shares of the information technology services provider’s stock after selling 94,156 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Accenture were worth $208,920,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Triumph Capital Management acquired a new position in Accenture in the third quarter worth approximately $26,000. Board of the Pension Protection Fund acquired a new position in Accenture in the fourth quarter worth approximately $27,000. Laurel Wealth Advisors LLC acquired a new position in Accenture in the fourth quarter worth approximately $27,000. Private Wealth Management Group LLC grew its position in Accenture by 96.4% in the fourth quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider’s stock worth $29,000 after buying an additional 53 shares during the last quarter. Finally, Steph & Co. grew its position in Accenture by 107.5% in the fourth quarter. Steph & Co. now owns 110 shares of the information technology services provider’s stock worth $30,000 after buying an additional 57 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Trading Down 0.7%

Accenture stock opened at $177.94 on Friday. The company’s fifty day simple moving average is $187.86 and its 200-day simple moving average is $229.13. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.16. Accenture PLC has a 12 month low of $155.82 and a 12 month high of $321.77. The stock has a market cap of $118.41 billion, a P/E ratio of 14.57, a P/E/G ratio of 1.70 and a beta of 1.08.

Accenture (NYSE:ACNGet Free Report) last posted its quarterly earnings results on Friday, March 20th. The information technology services provider reported $2.93 EPS for the quarter, beating 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 business had revenue of $18.04 billion for the quarter, compared to analysts’ expectations of $17.80 billion. During the same period in the previous year, the company posted $2.82 EPS. Accenture’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that Accenture PLC will post 13.87 EPS for the current fiscal year.

Accenture Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 9th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Thursday, April 9th. Accenture’s payout ratio is currently 53.40%.

Insider Activity

In related news, CEO Atsushi Egawa sold 4,872 shares of Accenture stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $177.14, for a total value of $863,026.08. Following the completion of the sale, the chief executive officer owned 12,802 shares of the company’s stock, valued at approximately $2,267,746.28. The trade was a 27.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.02% of the company’s stock.

Trending Headlines about Accenture

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Analysts Set New Price Targets

Several research firms have issued reports on ACN. Piper Sandler set a $282.00 price target on shares of Accenture in a research report on Thursday, March 5th. Royal Bank Of Canada decreased their price target on shares of Accenture from $295.00 to $253.00 and set an “outperform” rating on the stock in a research report on Friday, March 20th. Robert W. Baird decreased their price target on shares of Accenture from $330.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, March 20th. JPMorgan Chase & Co. lifted their price objective on shares of Accenture from $243.00 to $247.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. Finally, Truist Financial lowered their price objective on shares of Accenture from $317.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $274.50.

Check Out Our Latest Report on ACN

Accenture Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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