Sit Investment Associates Inc. decreased its position in Accenture PLC (NYSE:ACN – Free Report) by 12.5% during the 4th quarter, HoldingsChannel reports. The fund owned 61,272 shares of the information technology services provider’s stock after selling 8,741 shares during the quarter. Sit Investment Associates Inc.’s holdings in Accenture were worth $16,439,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Weitz Investment Management Inc. raised its stake in shares of Accenture by 28.8% during the 3rd quarter. Weitz Investment Management Inc. now owns 160,550 shares of the information technology services provider’s stock worth $39,592,000 after purchasing an additional 35,900 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Accenture by 27.7% during the 4th quarter. Teacher Retirement System of Texas now owns 282,340 shares of the information technology services provider’s stock worth $75,752,000 after purchasing an additional 61,314 shares in the last quarter. Public Sector Pension Investment Board raised its stake in shares of Accenture by 180.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 404,680 shares of the information technology services provider’s stock worth $99,794,000 after purchasing an additional 260,357 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Accenture by 197.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 141,484 shares of the information technology services provider’s stock worth $37,960,000 after purchasing an additional 93,880 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Accenture by 36.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 557,516 shares of the information technology services provider’s stock worth $149,582,000 after purchasing an additional 149,357 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.
Accenture Stock Down 1.6%
ACN stock opened at $167.69 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $111.59 billion, a PE ratio of 13.73, a PEG ratio of 1.62 and a beta of 1.08. Accenture PLC has a 1-year low of $155.82 and a 1-year high of $318.62. The business’s 50 day simple moving average is $182.33 and its 200 day simple moving average is $222.20.
Accenture Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 9th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Thursday, April 9th. Accenture’s dividend payout ratio is currently 53.40%.
Insider Buying and Selling
In other Accenture 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 value of $863,026.08. Following the transaction, the chief executive officer directly owned 12,802 shares of the company’s stock, valued at $2,267,746.28. This represents a 27.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on ACN shares. Guggenheim dropped their price objective on Accenture from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday. Piper Sandler set a $282.00 price objective on Accenture in a research note on Thursday, March 5th. Royal Bank Of Canada dropped their price objective on Accenture from $295.00 to $253.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. HSBC decreased their target price on Accenture from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Tuesday, April 14th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Accenture from $210.00 to $199.00 and set a “hold” rating on the stock in a report on Tuesday, June 2nd. Seventeen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and an average price target of $259.89.
Get Our Latest Stock Report on ACN
Accenture 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.
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