Allspring Global Investments Holdings LLC Has $91.53 Million Stake in Accenture PLC (NYSE:ACN)

Allspring Global Investments Holdings LLC grew its stake in Accenture PLC (NYSE:ACN - Free Report) by 12.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 291,871 shares of the information technology services provider's stock after purchasing an additional 32,712 shares during the period. Allspring Global Investments Holdings LLC's holdings in Accenture were worth $91,525,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC bought a new position in shares of Accenture during the 4th quarter worth about $30,000. Mpwm Advisory Solutions LLC bought a new position in shares of Accenture during the 4th quarter worth about $30,000. Park Square Financial Group LLC bought a new position in shares of Accenture during the 4th quarter worth about $31,000. Inlight Wealth Management LLC bought a new position in shares of Accenture during the 1st quarter worth about $32,000. Finally, Promus Capital LLC bought a new position in shares of Accenture during the 4th quarter worth about $34,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Trading Down 0.3%

Shares of NYSE ACN opened at $295.26 on Friday. The company's 50 day simple moving average is $308.04 and its 200 day simple moving average is $331.42. Accenture PLC has a fifty-two week low of $273.19 and a fifty-two week high of $398.35. The firm has a market capitalization of $184.93 billion, a P/E ratio of 23.51, a P/E/G ratio of 2.89 and a beta of 1.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.48.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.17. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The business had revenue of $17.73 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same period in the prior year, the business posted $3.13 earnings per share. Accenture's revenue was up 7.7% compared to the same quarter last year. On average, analysts predict that Accenture PLC will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 10th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 2.01%. The ex-dividend date is Thursday, July 10th. Accenture's payout ratio is presently 47.13%.

Insider Buying and Selling at Accenture

In other news, CEO Julie Spellman Sweet sold 2,284 shares of the stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.63, for a total transaction of $643,242.92. Following the completion of the sale, the chief executive officer now owns 9,965 shares of the company's stock, valued at $2,806,442.95. This represents a 18.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Joel Unruch sold 3,563 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $281.78, for a total transaction of $1,003,982.14. Following the sale, the general counsel now directly owns 17,237 shares of the company's stock, valued at $4,857,041.86. This represents a 17.13% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,516 shares of company stock valued at $2,507,366. Corporate insiders own 0.02% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ACN. Mizuho set a $348.00 price objective on shares of Accenture and gave the stock an "outperform" rating in a report on Tuesday, June 24th. JPMorgan Chase & Co. boosted their price target on shares of Accenture from $349.00 to $353.00 and gave the company an "overweight" rating in a research report on Monday, June 16th. Wall Street Zen lowered shares of Accenture from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. BMO Capital Markets reduced their price target on shares of Accenture from $355.00 to $325.00 and set a "market perform" rating on the stock in a research report on Monday, June 23rd. Finally, Royal Bank Of Canada reduced their price target on shares of Accenture from $399.00 to $392.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $370.71.

Accenture Company Profile

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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