Regent Peak Wealth Advisors LLC reduced its stake in Accenture plc (NYSE:ACN - Free Report) by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,743 shares of the information technology services provider's stock after selling 2,272 shares during the quarter. Accenture comprises 3.5% of Regent Peak Wealth Advisors LLC's holdings, making the stock its 7th largest holding. Regent Peak Wealth Advisors LLC's holdings in Accenture were worth $14,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Accenture by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 60,394,657 shares of the information technology services provider's stock valued at $21,246,236,000 after buying an additional 392,183 shares in the last quarter. Geode Capital Management LLC lifted its position in Accenture by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 13,528,348 shares of the information technology services provider's stock valued at $4,750,021,000 after purchasing an additional 136,665 shares during the last quarter. Capital Research Global Investors lifted its position in Accenture by 16.8% in the 4th 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 buying an additional 1,770,024 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Accenture by 22.8% in the fourth quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider's stock worth $4,283,225,000 after buying an additional 2,260,740 shares during the period. Finally, Capital International Investors increased its position in shares of Accenture by 2.2% in the fourth quarter. Capital International Investors now owns 8,513,140 shares of the information technology services provider's stock valued at $2,994,922,000 after acquiring an additional 181,449 shares during the period. 75.14% of the stock is owned by institutional investors.
Accenture Price Performance
ACN traded down $1.72 on Wednesday, reaching $319.20. 1,298,836 shares of the company's stock were exchanged, compared to its average volume of 2,962,238. The stock's fifty day moving average price is $303.55 and its 200-day moving average price is $336.54. The stock has a market cap of $199.92 billion, a PE ratio of 26.78, a P/E/G ratio of 3.23 and a beta of 1.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. Accenture plc has a twelve month low of $275.01 and a twelve month high of $398.35.
Accenture (NYSE:ACN - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.81 by $0.01. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business had revenue of $16.70 billion for the quarter, compared to the consensus estimate of $16.64 billion. During the same period in the previous year, the firm earned $2.77 EPS. The business's revenue was up 5.7% on a year-over-year basis. Sell-side analysts expect that Accenture plc will post 12.73 EPS for the current year.
Accenture Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th were issued a $1.48 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.85%. Accenture's payout ratio is currently 48.89%.
Analysts Set New Price Targets
A number of brokerages have weighed in on ACN. Stifel Nicolaus cut their price objective on shares of Accenture from $390.00 to $380.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Guggenheim cut their price objective on shares of Accenture from $400.00 to $395.00 and set a "buy" rating for the company in a report on Friday, March 21st. Royal Bank of Canada cut their price target on Accenture from $399.00 to $392.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Morgan Stanley decreased their price objective on Accenture from $380.00 to $372.00 and set an "equal weight" rating on the stock in a research report on Monday, March 17th. Finally, Barclays decreased their price objective on shares of Accenture from $415.00 to $390.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Seven investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $382.14.
Check Out Our Latest Report on Accenture
Insider Buying and Selling
In other Accenture news, CEO Julie Spellman Sweet sold 2,284 shares of the stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.63, for a total value of $643,242.92. Following the completion of the transaction, the chief executive officer now directly owns 9,965 shares of the company's stock, valued at approximately $2,806,442.95. This trade represents a 18.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO John F. Walsh sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $325.00, for a total value of $812,500.00. Following the completion of the transaction, the chief operating officer now directly owns 15,882 shares of the company's stock, valued at $5,161,650. The trade was a 13.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,516 shares of company stock worth $2,507,366 over the last 90 days. 0.02% of the stock is owned by insiders.
About Accenture
(
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.
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