Accenture PLC $ACN Shares Sold by ABN AMRO Bank N.V.

Key Points

• ABN AMRO Bank cut its Accenture stake by 93.3% in the fourth quarter, selling more than 581,000 shares and leaving it with 41,798 shares valued at about $11.2 million.
• Accenture’s latest quarter topped expectations, with EPS of $2.93 versus $2.84 expected and revenue of $18.04 billion, up 7.8% year over year.
• The company also declared a quarterly dividend of $1.63 per share, equal to an annualized yield of about 3.6%, while analysts maintain a Moderate Buy consensus with an average price target of $274.50.

ABN AMRO Bank N.V. lowered its position in Accenture PLC (NYSE:ACN - Free Report) by 93.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,798 shares of the information technology services provider's stock after selling 581,921 shares during the period. ABN AMRO Bank N.V.'s holdings in Accenture were worth $11,198,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ACN. Capital International Investors grew its holdings in shares of Accenture by 41.1% in the 3rd quarter. Capital International Investors now owns 17,128,134 shares of the information technology services provider's stock worth $4,223,839,000 after acquiring an additional 4,984,930 shares during the period. Voloridge Investment Management LLC acquired a new stake in shares of Accenture in the 3rd quarter worth approximately $311,694,000. Massachusetts Financial Services Co. MA grew its holdings in Accenture by 12.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,147,796 shares of the information technology services provider's stock valued at $2,502,446,000 after buying an additional 1,148,970 shares during the last quarter. Capital World Investors acquired a new stake in Accenture during the 3rd quarter valued at $268,578,000. Finally, First Trust Advisors LP grew its holdings in Accenture by 85.9% during the 3rd quarter. First Trust Advisors LP now owns 2,041,945 shares of the information technology services provider's stock valued at $503,544,000 after buying an additional 943,371 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company's stock.

Insider Buying and Selling at Accenture

In other news, CEO Atsushi Egawa sold 4,872 shares of the firm's stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $177.14, for a total transaction of $863,026.08. Following the sale, the chief executive officer owned 12,802 shares in the company, valued at $2,267,746.28. This trade represents a 27.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Julie Spellman Sweet sold 6,057 shares of Accenture stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $241.23, for a total value of $1,461,130.11. Following the completion of the transaction, the chief executive officer owned 15,255 shares in the company, valued at $3,679,963.65. The trade was a 28.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wells Fargo & Company increased their target price on Accenture from $251.00 to $275.00 and gave the company an "equal weight" rating in a report on Wednesday, January 14th. HSBC lowered their target price on Accenture from $220.00 to $210.00 and set a "hold" rating on the stock in a report on Tuesday, April 14th. Piper Sandler set a $282.00 target price on Accenture in a report on Thursday, March 5th. Guggenheim lowered their target price on Accenture from $275.00 to $250.00 and set a "buy" rating on the stock in a report on Friday, March 20th. Finally, JPMorgan Chase & Co. increased their target price on Accenture from $243.00 to $247.00 and gave the company an "overweight" rating in a report on Friday, March 20th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Accenture has an average rating of "Moderate Buy" and an average price target of $274.50.

Accenture Price Performance

ACN stock opened at $180.41 on Monday. Accenture PLC has a 52-week low of $172.52 and a 52-week high of $325.71. The stock's fifty day simple moving average is $194.89 and its 200-day simple moving average is $234.53. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $120.05 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.71 and a beta of 1.08.

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 business had revenue of $18.04 billion for the quarter, compared to analysts' expectations of $17.80 billion. During the same quarter last year, the firm earned $2.82 earnings per share. The business's revenue was up 7.8% on a year-over-year basis. Equities research analysts expect that Accenture PLC will post 13.87 EPS for the current year.

Accenture Dividend Announcement

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

Accenture Company 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.

Want to see what other hedge funds are holding ACN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Accenture PLC (NYSE:ACN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.