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Zions Bancorporation National Association UT Invests $6.16 Million in Accenture PLC (NYSE:ACN)

Accenture logo with Computer and Technology background

Key Points

  • Zions Bancorporation National Association UT has added 19,739 shares of Accenture PLC, valued at approximately $6.16 million, to its holdings during the first quarter of the year.
  • Accenture's share price target has varied among analysts, with UBS Group setting a target of $395.00, while the consensus rating remains at a "Moderate Buy" with an average target price of $360.21.
  • The company recently announced a quarterly dividend of $1.48 per share, which translates to an annualized dividend yield of 2.4%.
  • Want stock alerts on Accenture? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Zions Bancorporation National Association UT acquired a new position in shares of Accenture PLC (NYSE:ACN - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 19,739 shares of the information technology services provider's stock, valued at approximately $6,159,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mpwm Advisory Solutions LLC bought a new position in shares of Accenture during the 4th quarter worth about $30,000. Park Square Financial Group LLC bought a new position in shares of Accenture during the 4th quarter worth about $31,000. Capital A Wealth Management LLC bought a new position in Accenture during the 4th quarter valued at about $34,000. Inlight Wealth Management LLC bought a new position in Accenture during the 1st quarter valued at about $32,000. Finally, Navigoe LLC bought a new position in Accenture during the 4th quarter valued at about $37,000. 75.14% of the stock is owned by institutional investors.

Accenture Trading Down 1.1%

Shares of NYSE:ACN traded down $2.65 during trading on Friday, hitting $239.07. 3,810,701 shares of the company's stock were exchanged, compared to its average volume of 4,579,456. Accenture PLC has a 1-year low of $238.03 and a 1-year high of $398.35. The firm has a 50-day moving average price of $291.16 and a two-hundred day moving average price of $315.60. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The firm has a market cap of $149.74 billion, a P/E ratio of 19.03, a PEG ratio of 2.18 and a beta of 1.29.

Accenture (NYSE:ACN - Get Free Report) last released its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.32 by $0.17. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The business had revenue of $17.73 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same quarter last year, the firm earned $3.13 EPS. Accenture's quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts predict that Accenture PLC will post 12.73 earnings per share for the current year.

Accenture Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be paid a dividend of $1.48 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $5.92 annualized dividend and a yield of 2.5%. Accenture's dividend payout ratio (DPR) is presently 47.13%.

Insider Activity

In related news, insider Angela Beatty sold 203 shares of Accenture stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $282.34, for a total transaction of $57,315.02. Following the transaction, the insider owned 5,249 shares of the company's stock, valued at $1,482,002.66. This trade represents a 3.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mauro Macchi sold 500 shares of Accenture stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $282.34, for a total transaction of $141,170.00. Following the completion of the transaction, the chief executive officer directly owned 2,283 shares in the company, valued at approximately $644,582.22. The trade was a 17.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,454 shares of company stock worth $1,646,780 over the last quarter. 0.02% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on ACN. UBS Group reissued a "buy" rating and set a $395.00 price target (up from $390.00) on shares of Accenture in a report on Thursday, May 22nd. Barclays cut their price target on shares of Accenture from $390.00 to $360.00 and set an "overweight" rating for the company in a report on Monday, June 23rd. Benchmark reissued a "mixed" rating on shares of Accenture in a report on Friday, June 20th. Morgan Stanley cut their price target on shares of Accenture from $340.00 to $325.00 and set an "equal weight" rating for the company in a report on Tuesday, June 24th. Finally, BMO Capital Markets lowered their price objective on shares of Accenture from $355.00 to $325.00 and set a "market perform" rating for the company in a research report on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Accenture currently has an average rating of "Moderate Buy" and an average price target of $360.21.

View Our Latest Stock Report on ACN

Accenture Company Profile

(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.

Further Reading

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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