Resources Management Corp CT ADV increased its holdings in Accenture PLC (NYSE:ACN – Free Report) by 230.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,381 shares of the information technology services provider’s stock after buying an additional 35,844 shares during the quarter. Accenture comprises 1.8% of Resources Management Corp CT ADV’s portfolio, making the stock its 13th largest holding. Resources Management Corp CT ADV’s holdings in Accenture were worth $13,786,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Triumph Capital Management bought a new position in Accenture in the 3rd quarter worth approximately $26,000. Board of the Pension Protection Fund bought a new position in Accenture in the 4th quarter worth approximately $27,000. Laurel Wealth Advisors LLC bought a new position in Accenture in the 4th quarter worth approximately $27,000. McMillan Office Inc. bought a new position in Accenture in the 4th quarter worth approximately $27,000. Finally, Private Wealth Management Group LLC lifted its position in Accenture by 96.4% in the fourth quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 53 shares during the period. 75.14% of the stock is owned by institutional investors.
Accenture Price Performance
Shares of NYSE:ACN opened at $169.95 on Monday. Accenture PLC has a one year low of $155.82 and a one year high of $317.30. The stock has a fifty day moving average of $181.79 and a 200-day moving average of $221.68. The company has a market capitalization of $113.09 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.34.
Accenture Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 9th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Thursday, April 9th. Accenture’s dividend payout ratio is 53.40%.
Insider Activity at Accenture
In other news, CEO Atsushi Egawa sold 4,872 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $177.14, for a total transaction of $863,026.08. Following the completion of the sale, the chief executive officer owned 12,802 shares in the company, valued at approximately $2,267,746.28. This represents a 27.57% decrease in their position. The sale 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. Company insiders own 0.02% of the company’s stock.
Analyst Upgrades and Downgrades
ACN has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on Accenture from $210.00 to $199.00 and set a “hold” rating for the company in a research report on Tuesday, June 2nd. UBS Group restated a “buy” rating on shares of Accenture in a research report on Tuesday, March 17th. Mizuho cut their target price on Accenture from $309.00 to $280.00 and set an “outperform” rating for the company in a research report on Monday, March 23rd. BMO Capital Markets cut their target price on Accenture from $300.00 to $230.00 and set a “market perform” rating for the company in a research report on Friday, March 20th. Finally, Morgan Stanley set a $177.00 target price on Accenture in a research report on Monday. Seventeen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $257.56.
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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