Baillie Gifford & Co. Buys 113,309 Shares of Accenture PLC $ACN

Key Points

• Baillie Gifford raised its stake in Accenture by 49.4%, buying 113,309 shares to hold 342,567 shares valued at about $91.9 million (≈0.06% ownership) per its Q4 13F filing.
• Company insiders sold a total of 20,256 shares worth $5.46 million in the last three months, including CEO Julie Spellman Sweet (6,057 shares, a 28.4% reduction) and John F. Walsh (3,986 shares, a 12.8% reduction).
• Accenture beat quarterly estimates with EPS of $2.93 (vs. $2.84) and revenue of $18.04B (vs. $17.80B), and announced a quarterly dividend of $1.63 (annualized $6.52) yielding about 3.4% (ex-dividend April 9, payable May 15).

Baillie Gifford & Co. increased its stake in Accenture PLC (NYSE:ACN - Free Report) by 49.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 342,567 shares of the information technology services provider's stock after acquiring an additional 113,309 shares during the period. Baillie Gifford & Co. owned about 0.06% of Accenture worth $91,911,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Brown Miller Wealth Management LLC lifted its stake in shares of Accenture by 9.9% in the 4th quarter. Brown Miller Wealth Management LLC now owns 11,558 shares of the information technology services provider's stock valued at $3,101,000 after acquiring an additional 1,040 shares during the last quarter. Private Wealth Management Group LLC raised its position in Accenture by 96.4% during the 4th quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 53 shares during the last quarter. Andrew Hill Investment Advisors Inc. bought a new position in Accenture during the 4th quarter valued at approximately $286,000. Deprince Race & Zollo Inc. raised its position in Accenture by 17.8% during the 4th quarter. Deprince Race & Zollo Inc. now owns 103,280 shares of the information technology services provider's stock valued at $27,710,000 after purchasing an additional 15,599 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC raised its position in Accenture by 22.8% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 9,403 shares of the information technology services provider's stock valued at $2,523,000 after purchasing an additional 1,745 shares during the last quarter. Institutional investors own 75.14% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on ACN shares. Susquehanna upped their price target on Accenture from $270.00 to $277.00 and gave the company a "neutral" rating in a research report on Friday, December 19th. Berenberg Bank started coverage on Accenture in a research report on Thursday, January 22nd. They set a "buy" rating and a $313.00 price target for the company. Morgan Stanley lowered their price target on Accenture from $320.00 to $240.00 and set an "overweight" rating for the company in a research report on Monday, March 16th. UBS Group reaffirmed a "buy" rating on shares of Accenture in a research report on Tuesday, March 17th. Finally, Mizuho lowered their price target on Accenture from $309.00 to $280.00 and set an "outperform" rating for the company in a research report on Monday, March 23rd. Eighteen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Accenture currently has a consensus rating of "Moderate Buy" and a consensus target price of $274.88.

Insiders Place Their Bets

In related news, CEO Julie Spellman Sweet sold 6,057 shares of the company's stock in a transaction that occurred on Tuesday, February 10th. The stock was 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 represents a 28.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John F. Walsh sold 3,986 shares of the company's stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $276.38, for a total value of $1,101,650.68. Following the completion of the transaction, the chief executive officer directly owned 27,221 shares in the company, valued at $7,523,339.98. This trade represents a 12.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 20,256 shares of company stock worth $5,464,134 in the last three months. Corporate insiders own 0.02% of the company's stock.

Accenture Stock Performance

Accenture stock opened at $191.89 on Tuesday. 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 company has a market capitalization of $127.69 billion, a P/E ratio of 15.72, a PEG ratio of 1.70 and a beta of 1.24. The stock's 50 day moving average is $207.80 and its 200 day moving average is $241.23. Accenture PLC has a twelve month low of $177.50 and a twelve month high of $325.71.

Accenture (NYSE:ACN - Get Free Report) last posted its quarterly earnings results on Friday, March 20th. The information technology services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. The company had revenue of $18.04 billion for the quarter, compared to the consensus estimate of $17.80 billion. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The firm's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.82 EPS. On average, equities research analysts predict that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 9th will be given a $1.63 dividend. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $6.52 annualized dividend and a yield of 3.4%. Accenture's dividend payout ratio is 53.40%.

About Accenture

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.

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