Inceptionr LLC bought a new stake in shares of Accenture PLC (NYSE:ACN – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,666 shares of the information technology services provider’s stock, valued at approximately $1,917,000. Accenture makes up 0.5% of Inceptionr LLC’s holdings, making the stock its 23rd biggest position.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Accenture by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 66,070,930 shares of the information technology services provider’s stock worth $17,726,831,000 after purchasing an additional 854,361 shares during the last quarter. State Street Corp boosted its holdings in Accenture by 0.5% during the fourth quarter. State Street Corp now owns 28,264,675 shares of the information technology services provider’s stock worth $7,583,462,000 after buying an additional 129,610 shares in the last quarter. Capital International Investors grew its position in Accenture by 2.0% in the fourth quarter. Capital International Investors now owns 17,471,554 shares of the information technology services provider’s stock worth $4,687,867,000 after buying an additional 343,420 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Accenture by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 14,656,436 shares of the information technology services provider’s stock valued at $3,922,212,000 after buying an additional 218,719 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Accenture by 5.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,693,994 shares of the information technology services provider’s stock valued at $2,869,199,000 after acquiring an additional 546,198 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.
Accenture Trading Down 0.8%
Shares of NYSE ACN opened at $139.01 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.15. Accenture PLC has a one year low of $118.15 and a one year high of $291.09. The business has a 50-day moving average price of $154.36 and a two-hundred day moving average price of $195.32. The firm has a market capitalization of $92.83 billion, a PE ratio of 11.10, a PEG ratio of 1.45 and a beta of 1.13.
Accenture declared that its Board of Directors has approved a share repurchase plan on Tuesday, June 23rd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Accenture Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Thursday, July 9th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.7%. Accenture’s dividend payout ratio (DPR) is 52.08%.
Insider Activity
In other news, CEO Atsushi Egawa sold 4,872 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $177.14, for a total transaction of $863,026.08. Following the transaction, the chief executive officer directly owned 12,802 shares in the company, valued at $2,267,746.28. The trade was a 27.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on ACN. JPMorgan Chase & Co. decreased their target price on Accenture from $247.00 to $201.00 and set an “overweight” rating on the stock in a report on Monday, June 8th. Morgan Stanley decreased their price target on Accenture from $177.00 to $130.00 and set an “equal weight” rating for the company in a research report on Monday, June 22nd. Weiss Ratings downgraded Accenture from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, July 9th. BNP Paribas Exane decreased their target price on shares of Accenture from $180.00 to $130.00 and set a “neutral” rating for the company in a report on Friday, June 26th. Finally, Royal Bank Of Canada dropped their target price on shares of Accenture from $253.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, June 22nd. Twelve investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $192.96.
View Our Latest Stock Report on Accenture
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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