Accenture PLC $ACN Shares Purchased by Naples Global Advisors LLC

Naples Global Advisors LLC lifted its stake in Accenture PLC (NYSE:ACNFree Report) by 11.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 36,408 shares of the information technology services provider’s stock after purchasing an additional 3,664 shares during the period. Naples Global Advisors LLC’s holdings in Accenture were worth $9,768,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Asahi Life Asset Management CO. LTD. increased its holdings in shares of Accenture by 219.7% in the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 2,618 shares of the information technology services provider’s stock valued at $702,000 after purchasing an additional 1,799 shares during the last quarter. Pure Financial Advisors LLC increased its holdings in shares of Accenture by 3.1% in the fourth quarter. Pure Financial Advisors LLC now owns 2,965 shares of the information technology services provider’s stock valued at $795,000 after purchasing an additional 89 shares during the last quarter. Osprey Private Wealth LLC increased its holdings in shares of Accenture by 3.3% in the fourth quarter. Osprey Private Wealth LLC now owns 21,384 shares of the information technology services provider’s stock valued at $5,737,000 after purchasing an additional 690 shares during the last quarter. Nwam LLC increased its holdings in shares of Accenture by 6.9% in the fourth quarter. Nwam LLC now owns 2,962 shares of the information technology services provider’s stock valued at $809,000 after purchasing an additional 191 shares during the last quarter. Finally, D Orazio & Associates Inc. increased its holdings in shares of Accenture by 11.9% in the fourth quarter. D Orazio & Associates Inc. now owns 3,683 shares of the information technology services provider’s stock valued at $988,000 after purchasing an additional 391 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Citigroup cut their target price on Accenture from $266.00 to $215.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Piper Sandler set a $282.00 target price on Accenture in a research note on Thursday, March 5th. JPMorgan Chase & Co. raised their target price on Accenture from $243.00 to $247.00 and gave the stock an “overweight” rating in a research note on Friday, March 20th. TD Cowen cut their target price on Accenture from $282.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, March 16th. Finally, Truist Financial cut their target price on Accenture from $317.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $274.50.

View Our Latest Stock Report on ACN

Insiders Place Their Bets

In other news, CEO Atsushi Egawa sold 4,872 shares of Accenture 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 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. The trade was a 27.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Julie Spellman Sweet sold 6,057 shares of Accenture stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $241.23, for a total value of $1,461,130.11. Following the completion of the sale, the chief executive officer directly owned 15,255 shares of the company’s stock, valued at $3,679,963.65. The trade was a 28.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.02% of the company’s stock.

Accenture Trading Down 0.0%

Shares of NYSE ACN opened at $180.41 on Monday. Accenture PLC has a twelve month low of $172.52 and a twelve month high of $325.71. 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 stock has a fifty day simple moving average of $194.89 and a 200-day simple moving average of $234.53. The stock has a market capitalization of $120.05 billion, a PE ratio of 14.78, a PEG ratio of 1.71 and a beta of 1.08.

Accenture (NYSE:ACNGet Free Report) last issued its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The business had revenue of $18.04 billion during the quarter, compared to analysts’ expectations of $17.80 billion. During the same period in the previous year, the firm posted $2.82 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. On average, equities analysts forecast that Accenture PLC will post 13.87 earnings per share for the current year.

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 9th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.6%. Accenture’s payout ratio is presently 53.40%.

Accenture Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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