Brown Lisle Cummings Inc. grew its holdings in shares of Accenture PLC (NYSE:ACN - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,116 shares of the information technology services provider's stock after buying an additional 1,106 shares during the quarter. Accenture accounts for about 2.2% of Brown Lisle Cummings Inc.'s investment portfolio, making the stock its 7th largest holding. Brown Lisle Cummings Inc.'s holdings in Accenture were worth $7,525,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in ACN. Capital Research Global Investors lifted its stake in 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. Alteri Wealth LLC bought a new position in Accenture during the fourth quarter worth $321,000. Proficio Capital Partners LLC lifted its stake in Accenture by 47.6% during the fourth quarter. Proficio Capital Partners LLC now owns 2,446 shares of the information technology services provider's stock worth $861,000 after purchasing an additional 789 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Accenture in the fourth quarter valued at $317,000. Finally, Exchange Traded Concepts LLC lifted its stake in Accenture by 62.2% in the first quarter. Exchange Traded Concepts LLC now owns 905 shares of the information technology services provider's stock valued at $282,000 after buying an additional 347 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, insider Angela Beatty sold 169 shares of Accenture stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.90, for a total value of $47,641.10. Following the transaction, the insider now owns 5,364 shares of the company's stock, valued at approximately $1,512,111.60. This trade represents a 3.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Joel Unruch sold 3,563 shares of Accenture stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.78, for a total value of $1,003,982.14. Following the completion of the transaction, the general counsel now directly owns 17,237 shares in the company, valued at $4,857,041.86. This represents a 17.13% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,516 shares of company stock valued at $2,507,366. 0.02% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on ACN shares. 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. UBS Group reiterated a "buy" rating and issued a $395.00 target price (up from $390.00) on shares of Accenture in a research note on Thursday, May 22nd. Benchmark reiterated a "mixed" rating on shares of Accenture in a research note on Friday. Robert W. Baird upgraded Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 target price on the stock in a research note on Monday, March 17th. Finally, Stifel Nicolaus cut their target price on Accenture from $390.00 to $380.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Accenture has a consensus rating of "Moderate Buy" and an average target price of $380.00.
Get Our Latest Stock Analysis on Accenture
Accenture Price Performance
NYSE:ACN opened at $285.66 on Monday. The business's 50-day moving average price is $306.98 and its 200 day moving average price is $333.51. The firm has a market cap of $178.92 billion, a P/E ratio of 22.74, a PEG ratio of 2.85 and a beta of 1.33. Accenture PLC has a 52-week low of $273.19 and a 52-week high of $398.35. The company has a quick ratio of 1.48, a current ratio of 1.46 and a debt-to-equity ratio of 0.16.
Accenture (NYSE:ACN - Get Free Report) last released its earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.32 by $0.17. The firm had revenue of $17.73 billion for the quarter, compared to analyst estimates of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%. Accenture's revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.13 earnings per share. As a group, sell-side analysts predict that Accenture PLC will post 12.73 earnings per share for the current fiscal year.
Accenture Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 2.07%. Accenture's payout ratio is currently 48.89%.
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.
Further Reading
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