Rakuten Investment Management Inc. purchased a new stake in shares of Accenture PLC (NYSE:ACN – Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 109,836 shares of the information technology services provider’s stock, valued at approximately $19,454,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. IMG Wealth Management Inc. raised its position in Accenture by 134.8% during the first quarter. IMG Wealth Management Inc. now owns 155 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 89 shares during the period. Foresight Capital Management Advisors Inc. purchased a new position in Accenture during the third quarter valued at $31,000. Signature Equity Partners LLC grew its position in shares of Accenture by 50.9% in the third quarter. Signature Equity Partners LLC now owns 172 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 58 shares during the period. Whipplewood Advisors LLC grew its position in shares of Accenture by 57.9% in the first quarter. Whipplewood Advisors LLC now owns 210 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 77 shares during the period. Finally, Dogwood Wealth Management LLC grew its position in shares of Accenture by 147.1% in the second quarter. Dogwood Wealth Management LLC now owns 215 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 128 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.
Accenture Stock Up 3.9%
Shares of ACN opened at $264.37 on Thursday. Accenture PLC has a 52-week low of $118.15 and a 52-week high of $291.09. The company has a market capitalization of $156.25 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 1.96 and a beta of 1.01. The stock has a fifty day simple moving average of $207.19 and a two-hundred day simple moving average of $192.07. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.31.
Accenture (NYSE:ACN – Get Free Report) last announced its quarterly earnings results on Thursday, October 1st. The information technology services provider reported $3.29 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.11. The firm had revenue of $18.68 billion for the quarter, compared to analysts’ expectations of $18.03 billion. Accenture had a net margin of 11.28% and a return on equity of 26.53%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.03 EPS. Accenture has set its FY 2027 guidance at 14.390-14.810 EPS. As a group, equities analysts forecast that Accenture PLC will post 14.68 EPS for the current year.
Accenture Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 13th will be given a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, October 13th. This is an increase from Accenture’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 2.6%. Accenture’s dividend payout ratio is currently 50.44%.
Analysts Set New Price Targets
Several research analysts recently weighed in on ACN shares. BMO Capital Markets set a $235.00 price target on shares of Accenture in a research report on Friday, October 2nd. Mizuho boosted their price objective on Accenture from $226.00 to $241.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 6th. Evercore set a $250.00 target price on Accenture and gave the company an “outperform” rating in a report on Thursday, October 1st. Deutsche Bank Aktiengesellschaft raised their target price on Accenture from $136.00 to $175.00 and gave the company a “hold” rating in a research report on Friday, September 18th. Finally, Wells Fargo & Company lifted their price target on Accenture from $210.00 to $252.00 and gave the stock an “equal weight” rating in a research note on Monday, October 26th. Ten research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company. According to data from MarketBeat.com, Accenture presently has a consensus rating of “Hold” and a consensus price target of $221.07.
Read Our Latest Research Report on ACN
Insider Activity at Accenture
In related news, CAO Melissa A. Burgum sold 811 shares of the stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $250.00, for a total transaction of $202,750.00. Following the transaction, the chief accounting officer owned 9,820 shares of the company’s stock, valued at approximately $2,455,000. This represents a 7.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryoji Sekido sold 5,844 shares of the stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $244.84, for a total transaction of $1,430,844.96. Following the sale, the chief executive officer owned 1,194 shares in the company, valued at approximately $292,338.96. This trade represents a 83.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,675 shares of company stock valued at $2,047,563 over the last quarter. 0.02% of the stock is owned by insiders.
Accenture Profile
Accenture plc is a global professional services company that helps organizations transform their businesses through consulting, technology and managed services. Its work spans strategy and consulting, technology implementation, operations, and interactive customer experiences.
The company provides services in areas including cloud computing, artificial intelligence, cybersecurity, data and analytics, digital engineering, enterprise software, systems integration and business process outsourcing.
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