AlTi Global Inc. reduced its position in shares of Accenture plc (NYSE:ACN - Free Report) by 16.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,354 shares of the information technology services provider's stock after selling 1,403 shares during the quarter. AlTi Global Inc.'s holdings in Accenture were worth $2,588,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Accenture during the fourth quarter valued at approximately $2,351,683,000. Wellington Management Group LLP grew its position in Accenture by 22.8% in the 4th quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider's stock valued at $4,283,225,000 after acquiring an additional 2,260,740 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Accenture in the fourth quarter worth $666,495,000. Capital Research Global Investors lifted its position in shares of Accenture by 16.8% during the fourth quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider's stock worth $4,325,526,000 after purchasing an additional 1,770,024 shares during the last quarter. Finally, Swedbank AB grew its holdings in shares of Accenture by 47.5% in the fourth quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider's stock worth $1,324,029,000 after purchasing an additional 1,212,011 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.
Accenture Stock Performance
Shares of ACN stock traded down $3.51 on Tuesday, hitting $304.20. The company had a trading volume of 2,717,473 shares, compared to its average volume of 2,982,922. The firm has a market cap of $190.53 billion, a P/E ratio of 25.52, a price-to-earnings-growth ratio of 3.23 and a beta of 1.35. Accenture plc has a twelve month low of $275.01 and a twelve month high of $398.35. The company has a 50-day moving average price of $307.74 and a 200-day moving average price of $344.13. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.
Accenture (NYSE:ACN - Get Free Report) last posted its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.01. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm had revenue of $16.70 billion during the quarter, compared to analysts' expectations of $16.64 billion. During the same period in the previous year, the business posted $2.77 EPS. The business's revenue was up 5.7% compared to the same quarter last year. As a group, equities research analysts predict that Accenture plc will post 12.73 earnings per share for the current fiscal year.
Accenture Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 10th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Thursday, April 10th. Accenture's dividend payout ratio is presently 48.89%.
Wall Street Analyst Weigh In
A number of brokerages have commented on ACN. Baird R W upgraded shares of Accenture from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. BMO Capital Markets lifted their price objective on shares of Accenture to $355.00 and gave the company a "hold" rating in a report on Wednesday, March 26th. Guggenheim reduced their price target on Accenture from $400.00 to $395.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Piper Sandler cut their target price on Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Mizuho lowered their price target on shares of Accenture from $428.00 to $398.00 and set an "outperform" rating on the stock in a report on Wednesday, March 19th. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $377.82.
Check Out Our Latest Report on ACN
Insider Activity at Accenture
In other news, insider Angela Beatty sold 169 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $281.90, for a total transaction of $47,641.10. Following the completion of the transaction, the insider now directly owns 5,364 shares in the company, valued at approximately $1,512,111.60. This represents a 3.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Julie Spellman Sweet sold 2,284 shares of the stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.63, for a total transaction of $643,242.92. Following the transaction, the chief executive officer now directly owns 9,965 shares of the company's stock, valued at approximately $2,806,442.95. This trade represents a 18.65 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,041 shares of company stock valued at $5,254,956. 0.02% of the stock is owned by insiders.
Accenture Profile
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Free Report)
Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.
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