Wealthfront Advisers LLC trimmed its holdings in shares of Accenture PLC (NYSE:ACN – Free Report) by 16.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,637 shares of the information technology services provider’s stock after selling 10,370 shares during the quarter. Wealthfront Advisers LLC’s holdings in Accenture were worth $10,834,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Accenture by 1.3% in 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 purchasing an additional 854,361 shares during the last quarter. State Street Corp lifted its position in Accenture by 0.5% during the fourth quarter. State Street Corp now owns 28,264,675 shares of the information technology services provider’s stock valued at $7,583,462,000 after purchasing an additional 129,610 shares during the last quarter. Capital International Investors grew its stake in Accenture by 2.0% in the 4th quarter. Capital International Investors now owns 17,471,554 shares of the information technology services provider’s stock worth $4,687,867,000 after buying an additional 343,420 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Accenture by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 14,656,436 shares of the information technology services provider’s stock valued at $3,922,212,000 after buying an additional 218,719 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Accenture by 5.4% during the 4th 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 during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.
Accenture Trading Down 0.7%
ACN opened at $143.56 on Friday. Accenture PLC has a one year low of $118.15 and a one year high of $291.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.34 and a quick ratio of 1.34. The business has a 50 day simple moving average of $156.38 and a two-hundred day simple moving average of $199.36. The firm has a market capitalization of $95.87 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 1.50 and a beta of 1.13.
Accenture announced that its Board of Directors has approved a stock buyback program on Tuesday, June 23rd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Accenture Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Thursday, July 9th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Thursday, July 9th. Accenture’s payout ratio is presently 52.08%.
Insider Buying and Selling
In other news, CEO Atsushi Egawa sold 4,872 shares of the firm’s stock in a transaction dated 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 directly owned 12,802 shares of the company’s stock, valued at approximately $2,267,746.28. This trade represents a 27.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.02% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on ACN shares. DA Davidson lowered their price target on Accenture from $275.00 to $175.00 and set a “buy” rating on the stock in a research report on Tuesday, June 23rd. TD Cowen cut Accenture from a “buy” rating to a “hold” rating and cut their price objective for the stock from $258.00 to $150.00 in a report on Monday, June 22nd. Oppenheimer set a $201.00 price objective on Accenture in a report on Monday, June 8th. Stifel Nicolaus dropped their target price on Accenture from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, June 3rd. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Accenture in a research note on Tuesday, June 16th. Twelve investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $193.19.
Get Our Latest Research Report on Accenture
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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