Banque de Luxembourg S.A. Buys Shares of 40,523 Accenture plc (NYSE:ACN)

Banque de Luxembourg S.A. bought a new position in shares of Accenture plc (NYSE:ACN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 40,523 shares of the information technology services provider's stock, valued at approximately $14,313,000. Accenture makes up 7.6% of Banque de Luxembourg S.A.'s holdings, making the stock its 4th largest position.

Other hedge funds have also modified their holdings of the company. Modus Advisors LLC acquired a new stake in shares of Accenture during the 4th quarter valued at approximately $59,000. CWA Asset Management Group LLC raised its holdings in Accenture by 10.4% during the fourth quarter. CWA Asset Management Group LLC now owns 19,077 shares of the information technology services provider's stock worth $6,711,000 after purchasing an additional 1,798 shares during the last quarter. Boltwood Capital Management purchased a new stake in Accenture during the fourth quarter worth $272,000. Neville Rodie & Shaw Inc. grew its holdings in Accenture by 4.3% in the fourth quarter. Neville Rodie & Shaw Inc. now owns 725 shares of the information technology services provider's stock valued at $255,000 after purchasing an additional 30 shares during the last quarter. Finally, Insight Wealth Strategies LLC increased its position in shares of Accenture by 2.5% in the fourth quarter. Insight Wealth Strategies LLC now owns 10,598 shares of the information technology services provider's stock valued at $3,728,000 after buying an additional 260 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, General Counsel Joel Unruch sold 3,563 shares of the business's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.78, for a total transaction of $1,003,982.14. Following the completion of the sale, the general counsel now owns 17,237 shares of the company's stock, valued at $4,857,041.86. This represents a 17.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela Beatty sold 169 shares of Accenture stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $281.90, for a total value of $47,641.10. Following the completion of the transaction, the insider now owns 5,364 shares of the company's stock, valued at approximately $1,512,111.60. The trade was a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,016 shares of company stock worth $1,694,866. 0.02% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on ACN shares. Jefferies Financial Group dropped their target price on shares of Accenture from $385.00 to $355.00 and set a "hold" rating for the company in a report on Tuesday, January 21st. Royal Bank of Canada cut their price objective on Accenture from $399.00 to $392.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Piper Sandler dropped their price target on Accenture from $364.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Barclays reduced their price objective on Accenture from $415.00 to $390.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Finally, Baird R W upgraded shares of Accenture from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Eight analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Accenture has an average rating of "Moderate Buy" and an average price target of $377.82.

Accenture Stock Up 0.7 %

Shares of NYSE:ACN traded up $2.27 during trading on Wednesday, hitting $306.07. The company's stock had a trading volume of 2,647,748 shares, compared to its average volume of 2,983,579. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. Accenture plc has a fifty-two week low of $275.01 and a fifty-two week high of $398.35. The stock's 50-day moving average price is $306.68 and its two-hundred day moving average price is $343.86. The company has a market capitalization of $191.70 billion, a PE ratio of 25.68, a PEG ratio of 3.23 and a beta of 1.35.

Accenture (NYSE:ACN - Get Free Report) last posted its quarterly 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. The firm had revenue of $16.70 billion for the quarter, compared to analysts' expectations of $16.64 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm's quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.77 earnings per share. As a group, sell-side analysts expect that Accenture plc will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th will be given a $1.48 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.93%. Accenture's payout ratio is 48.89%.

Accenture Company Profile

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.