Wealthspire Advisors LLC boosted its stake in shares of Accenture PLC (NYSE:ACN – Free Report) by 30.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,396 shares of the information technology services provider’s stock after acquiring an additional 20,846 shares during the quarter. Wealthspire Advisors LLC’s holdings in Accenture were worth $24,253,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Accenture by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 66,070,930 shares of the information technology services provider’s stock worth $17,726,831,000 after acquiring an additional 854,361 shares in the last quarter. State Street Corp raised its stake in Accenture by 0.4% during the third quarter. State Street Corp now owns 28,135,065 shares of the information technology services provider’s stock worth $6,938,156,000 after acquiring an additional 118,460 shares in the last quarter. Capital International Investors raised its stake in Accenture by 2.0% during the fourth quarter. Capital International Investors now owns 17,471,554 shares of the information technology services provider’s stock worth $4,687,867,000 after acquiring an additional 343,420 shares in the last quarter. Geode Capital Management LLC raised its stake in Accenture by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 14,656,436 shares of the information technology services provider’s stock worth $3,922,212,000 after acquiring an additional 218,719 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Accenture by 5.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,693,994 shares of the information technology services provider’s stock worth $2,869,199,000 after acquiring an additional 546,198 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.
Accenture Stock Performance
Shares of NYSE:ACN opened at $169.95 on Friday. Accenture PLC has a twelve month low of $155.82 and a twelve month high of $317.30. The firm has a market cap of $113.09 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 1.59 and a beta of 1.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.34. The business has a fifty day moving average of $181.79 and a 200-day moving average of $221.83.
Accenture Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 9th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Thursday, April 9th. Accenture’s dividend payout ratio (DPR) is presently 53.40%.
Analyst Ratings Changes
Several research analysts have issued reports on the company. Truist Financial lowered Accenture from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $260.00 to $210.00 in a research note on Monday, June 1st. Stifel Nicolaus lowered their target price on Accenture from $315.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, June 3rd. TD Cowen lowered their target price on Accenture from $282.00 to $258.00 and set a “buy” rating for the company in a research note on Monday, June 8th. Citigroup lowered their target price on Accenture from $215.00 to $195.00 and set a “neutral” rating for the company in a research note on Monday, June 1st. Finally, JPMorgan Chase & Co. lowered their target price on Accenture from $247.00 to $201.00 and set an “overweight” rating for the company in a research note on Monday, June 8th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Accenture has an average rating of “Moderate Buy” and a consensus price target of $259.89.
Read Our Latest Research Report on ACN
Insider Buying and Selling
In related news, CEO Atsushi Egawa sold 4,872 shares of Accenture stock in a transaction dated Thursday, April 30th. The stock was 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 directly owned 12,802 shares in the company, valued at $2,267,746.28. This trade represents a 27.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is currently owned by insiders.
About Accenture
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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