Advisors Capital Management LLC Reduces Position in Accenture PLC $ACN

Advisors Capital Management LLC lessened its stake in shares of Accenture PLC (NYSE:ACN - Free Report) by 4.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 268,535 shares of the information technology services provider's stock after selling 11,458 shares during the period. Accenture comprises approximately 0.8% of Advisors Capital Management LLC's investment portfolio, making the stock its 27th biggest holding. Advisors Capital Management LLC's holdings in Accenture were worth $72,048,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Harbor Capital Advisors Inc. raised its stake in Accenture by 132.6% in the third quarter. Harbor Capital Advisors Inc. now owns 107 shares of the information technology services provider's stock worth $26,000 after buying an additional 61 shares in the last quarter. Triumph Capital Management bought a new position in Accenture in the third quarter worth approximately $26,000. Board of the Pension Protection Fund bought a new position in Accenture in the fourth quarter worth approximately $27,000. Davis Capital Management acquired a new position in shares of Accenture during the third quarter worth $28,000. Finally, Private Wealth Management Group LLC increased its position in shares of 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 purchasing an additional 53 shares in the last quarter. Institutional investors own 75.14% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Guggenheim reduced their price target on Accenture from $275.00 to $250.00 and set a "buy" rating on the stock in a research report on Friday, March 20th. JPMorgan Chase & Co. upped their price target on Accenture from $243.00 to $247.00 and gave the stock an "overweight" rating in a research report on Friday, March 20th. Piper Sandler set a $282.00 price target on Accenture in a research report on Thursday, March 5th. TD Cowen reduced their price target on Accenture from $282.00 to $275.00 and set a "buy" rating on the stock in a research report on Monday, March 16th. Finally, Argus reduced their price target on Accenture from $370.00 to $335.00 and set a "buy" rating on the stock in a research report on Monday, December 29th. Seventeen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Accenture currently has a consensus rating of "Moderate Buy" and an average target price of $274.50.

Accenture Stock Performance

NYSE ACN opened at $178.61 on Friday. The stock has a 50-day simple moving average of $199.82 and a two-hundred day simple moving average of $237.78. The firm has a market capitalization of $118.86 billion, a P/E ratio of 14.63, a PEG ratio of 1.69 and a beta of 1.24. Accenture PLC has a fifty-two week low of $173.84 and a fifty-two week high of $325.71. 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 (NYSE:ACN - Get Free Report) last released its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $17.80 billion. During the same quarter last year, the business posted $2.82 EPS. The company's revenue was up 7.8% on a year-over-year basis. On average, equities analysts forecast that Accenture PLC will post 13.87 earnings per share for the current year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 9th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Thursday, April 9th. Accenture's dividend payout ratio is presently 53.40%.

Insider Activity at Accenture

In related news, CEO Julie Spellman Sweet sold 6,057 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer directly owned 15,255 shares of the company's stock, valued at approximately $3,679,963.65. This trade represents a 28.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Catherine Kiernan Hogan sold 660 shares of the firm's stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $280.93, for a total transaction of $185,413.80. Following the completion of the transaction, the chief operating officer directly owned 12,688 shares in the company, valued at $3,564,439.84. This represents a 4.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 14,305 shares of company stock valued at $3,759,847. 0.02% of the stock is owned by corporate insiders.

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.