Live Oak Private Wealth LLC acquired a new position in Accenture PLC (NYSE:ACN – Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 11,772 shares of the information technology services provider’s stock, valued at approximately $1,465,000.
A number of other institutional investors have also modified their holdings of the company. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. increased its position in Accenture by 0.9% during the 3rd quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 4,416 shares of the information technology services provider’s stock worth $1,089,000 after purchasing an additional 41 shares in the last quarter. Peak Asset Management LLC lifted its position in Accenture by 0.8% during the fourth quarter. Peak Asset Management LLC now owns 5,447 shares of the information technology services provider’s stock valued at $1,461,000 after buying an additional 43 shares in the last quarter. SkyView Investment Advisors LLC grew its stake in Accenture by 1.2% during the second quarter. SkyView Investment Advisors LLC now owns 3,751 shares of the information technology services provider’s stock worth $1,108,000 after buying an additional 43 shares during the period. Intrua Financial LLC increased its position in shares of Accenture by 3.3% in the fourth quarter. Intrua Financial LLC now owns 1,442 shares of the information technology services provider’s stock worth $387,000 after acquiring an additional 46 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its stake in shares of Accenture by 10.0% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 516 shares of the information technology services provider’s stock valued at $139,000 after acquiring an additional 47 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.
Accenture Stock Performance
Accenture stock opened at $188.08 on Wednesday. Accenture PLC has a 12-month low of $118.15 and a 12-month 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 company has a market capitalization of $125.60 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 1.61 and a beta of 1.10. The firm’s fifty day moving average price is $158.25 and its 200 day moving average price is $177.25.
Accenture Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Thursday, July 9th were issued a $1.63 dividend. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $6.52 dividend on an annualized basis and a yield of 3.5%. Accenture’s dividend payout ratio is currently 52.08%.
Accenture announced that its Board of Directors has initiated a share repurchase 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 buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on ACN. Mizuho decreased their price target on shares of Accenture from $280.00 to $226.00 and set an “outperform” rating for the company in a research report on Tuesday, June 23rd. Guggenheim cut their price objective on Accenture from $225.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, June 22nd. Berenberg Bank decreased their target price on Accenture from $273.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, June 17th. Truist Financial lowered their target price on Accenture from $210.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, June 22nd. Finally, Robert W. Baird set a $190.00 target price on Accenture in a report on Thursday, June 18th. Twelve equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $194.19.
View Our Latest Research Report on Accenture
Insiders Place Their Bets
In other Accenture news, General Counsel Joel Unruch sold 10,498 shares of Accenture stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $162.98, for a total transaction of $1,710,964.04. Following the sale, the general counsel directly owned 17,735 shares in the company, valued at $2,890,450.30. The trade was a 37.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 company insiders.
Accenture Company 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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