Illinois Municipal Retirement Fund Raises Holdings in Accenture PLC $ACN

Illinois Municipal Retirement Fund raised its stake in Accenture PLC (NYSE:ACNFree Report) by 6.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 74,054 shares of the information technology services provider’s stock after purchasing an additional 4,640 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Accenture were worth $19,869,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ACN. Triumph Capital Management acquired a new stake in Accenture in the third quarter valued at approximately $26,000. Board of the Pension Protection Fund acquired a new position in Accenture during the 4th quarter worth approximately $27,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Accenture in the 4th quarter valued at approximately $27,000. Private Wealth Management Group LLC raised its holdings in shares of Accenture by 96.4% in the 4th quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 53 shares in the last quarter. Finally, Steph & Co. grew its stake in shares of Accenture by 107.5% during the fourth quarter. Steph & Co. now owns 110 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 57 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ACN shares. Piper Sandler set a $282.00 price target on Accenture in a research note on Thursday, March 5th. Truist Financial downgraded Accenture from a “buy” rating to a “hold” rating and dropped their price objective for the company from $260.00 to $210.00 in a report on Monday, June 1st. HSBC decreased their target price on Accenture from $220.00 to $210.00 and set a “hold” rating for the company in a research note on Tuesday, April 14th. Robert W. Baird dropped their price target on shares of Accenture from $330.00 to $265.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. Finally, Royal Bank Of Canada cut their price objective on shares of Accenture from $295.00 to $253.00 and set an “outperform” rating on the stock in a report on Friday, March 20th. Seventeen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $260.81.

View Our Latest Research Report on Accenture

Insider Transactions at Accenture

In other news, CEO Atsushi Egawa sold 4,872 shares of the company’s stock in a transaction 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 sale, the chief executive officer directly owned 12,802 shares in the company, valued at $2,267,746.28. This represents a 27.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.02% of the company’s stock.

Accenture Price Performance

Accenture stock opened at $170.76 on Thursday. The company has a market cap of $113.63 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 1.64 and a beta of 1.08. Accenture PLC has a one year low of $155.82 and a one year high of $321.77. The business has a fifty day moving average of $182.94 and a two-hundred day moving average of $222.79. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.34.

Accenture (NYSE:ACNGet Free Report) last posted its earnings results on Friday, March 20th. The information technology services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The company had revenue of $18.04 billion for the quarter, compared to analyst estimates of $17.80 billion. During the same quarter in the prior year, the company earned $2.82 earnings per share. Accenture’s revenue was up 7.8% compared to the same quarter last year. As a group, analysts predict that Accenture PLC will post 13.87 earnings per share for the current fiscal year.

Accenture Announces Dividend

The firm also recently announced 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. The ex-dividend date was Thursday, April 9th. This represents a $6.52 annualized dividend and a yield of 3.8%. Accenture’s dividend payout ratio is 53.40%.

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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