Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Accenture PLC (NYSE:ACN – Free Report) by 21.3% in the fourth quarter, Holdings Channel reports. The firm owned 80,421 shares of the information technology services provider’s stock after purchasing an additional 14,132 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Accenture were worth $21,577,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACN. Norges Bank bought a new position in Accenture during the fourth quarter worth about $2,146,995,000. Capital International Investors lifted its stake in Accenture by 41.1% during the third quarter. Capital International Investors now owns 17,128,134 shares of the information technology services provider’s stock worth $4,223,839,000 after purchasing an additional 4,984,930 shares during the period. Voloridge Investment Management LLC bought a new position in Accenture during the third quarter worth about $311,694,000. Franklin Resources Inc. lifted its stake in Accenture by 15.9% during the fourth quarter. Franklin Resources Inc. now owns 8,173,338 shares of the information technology services provider’s stock worth $2,192,907,000 after purchasing an additional 1,122,855 shares during the period. Finally, Capital World Investors bought a new position in Accenture during the third quarter worth about $268,578,000. Institutional investors own 75.14% of the company’s stock.
Accenture Stock Performance
NYSE:ACN opened at $169.95 on Monday. Accenture PLC has a 1 year low of $155.82 and a 1 year high of $317.30. The firm has a 50 day moving average of $181.79 and a 200-day moving average of $221.68. 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 market capitalization of $113.09 billion, a P/E ratio of 13.92, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09.
Accenture Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 9th were issued a $1.63 dividend. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.8%. Accenture’s dividend payout ratio (DPR) is currently 53.40%.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. Wells Fargo & Company cut their price target on shares of Accenture from $275.00 to $248.00 and set an “overweight” rating for the company in a research note on Thursday, June 4th. JPMorgan Chase & Co. cut their target price on shares of Accenture from $247.00 to $201.00 and set an “overweight” rating for the company in a research note on Monday, June 8th. Truist Financial cut shares of Accenture from a “buy” rating to a “hold” rating and cut their target price for the company from $260.00 to $210.00 in a research note on Monday, June 1st. Citigroup cut their target price on shares of Accenture from $215.00 to $195.00 and set a “neutral” rating for the company in a research note on Monday, June 1st. Finally, Oppenheimer set a $201.00 target price on shares of Accenture in a research note on Monday, June 8th. Seventeen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $257.56.
Get Our Latest Stock Report on ACN
Insider Buying and Selling at Accenture
In related news, CEO Atsushi Egawa sold 4,872 shares of the firm’s stock in a transaction that occurred on 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 owned 12,802 shares of the company’s stock, valued at $2,267,746.28. This trade represents a 27.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 corporate insiders.
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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