Accenture PLC $ACN Shares Acquired by Troy Asset Management Ltd

Key Points

• Troy Asset Management Ltd increased its Accenture stake by 52.9% in the fourth quarter, buying 41,710 additional shares and bringing its total holdings to 120,532 shares worth about $32.3 million.
• Accenture reported better-than-expected quarterly results, with EPS of $2.93 versus $2.84 expected and revenue of $18.04 billion, up 7.8% year over year.
• The company also paid a quarterly dividend of $1.63 per share, equal to an annualized yield of 3.6%, while analysts currently have a consensus rating of Moderate Buy with a price target of $274.50.

Troy Asset Management Ltd lifted its stake in shares of Accenture PLC (NYSE:ACN - Free Report) by 52.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 120,532 shares of the information technology services provider's stock after acquiring an additional 41,710 shares during the period. Accenture accounts for approximately 0.8% of Troy Asset Management Ltd's portfolio, making the stock its 19th biggest holding. Troy Asset Management Ltd's holdings in Accenture were worth $32,339,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ACN. Board of the Pension Protection Fund purchased a new position in Accenture during the fourth quarter worth about $27,000. Laurel Wealth Advisors LLC purchased a new position in Accenture during the fourth quarter worth about $27,000. Triumph Capital Management purchased a new position in Accenture during the third quarter worth about $26,000. Private Wealth Management Group LLC lifted its position in Accenture by 96.4% during the fourth quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider's stock worth $29,000 after buying an additional 53 shares during the period. Finally, Steph & Co. lifted its position in Accenture by 107.5% during the fourth quarter. Steph & Co. now owns 110 shares of the information technology services provider's stock worth $30,000 after buying an additional 57 shares during the period. Institutional investors and hedge funds own 75.14% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ACN. Robert W. Baird reduced their target price on Accenture from $330.00 to $265.00 and set an "outperform" rating on the stock in a research report on Friday, March 20th. JPMorgan Chase & Co. increased their target price on Accenture from $243.00 to $247.00 and gave the stock an "overweight" rating in a research report on Friday, March 20th. Royal Bank Of Canada reduced their target price on Accenture from $295.00 to $253.00 and set an "outperform" rating on the stock in a research report on Friday, March 20th. Citigroup reduced their target price on Accenture from $266.00 to $215.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 25th. Finally, UBS Group reiterated a "buy" rating on shares of Accenture in a research report on Tuesday, March 17th. Seventeen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $274.50.

Accenture Stock Performance

Shares of NYSE:ACN opened at $179.36 on Monday. The company has a market cap of $119.35 billion, a P/E ratio of 14.69, a PEG ratio of 1.70 and a beta of 1.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.34. Accenture PLC has a one year low of $155.82 and a one year high of $321.77. The business's 50-day simple moving average is $187.42 and its 200 day simple moving average is $228.65.

Accenture (NYSE:ACN - Get Free Report) last posted its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The company had revenue of $18.04 billion for the quarter, compared to the consensus estimate of $17.80 billion. During the same period in the previous year, the business earned $2.82 EPS. Accenture's revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts forecast that Accenture PLC will post 13.87 earnings per share for the current fiscal year.

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 9th were issued a dividend of $1.63 per share. The ex-dividend date was Thursday, April 9th. This represents a $6.52 annualized dividend and a yield of 3.6%. Accenture's payout ratio is currently 53.40%.

Insider Transactions at Accenture

In other news, CEO Atsushi Egawa sold 4,872 shares of Accenture stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $177.14, for a total value of $863,026.08. Following the completion of the transaction, the chief executive officer owned 12,802 shares in the company, valued at approximately $2,267,746.28. This trade represents a 27.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is 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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