Donaldson Capital Management LLC raised its holdings in Accenture plc (NYSE:ACN - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 252,929 shares of the information technology services provider's stock after purchasing an additional 3,064 shares during the quarter. Accenture makes up about 3.0% of Donaldson Capital Management LLC's investment portfolio, making the stock its 9th largest position. Donaldson Capital Management LLC's holdings in Accenture were worth $78,924,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the business. USA Financial Formulas bought a new stake in shares of Accenture during the first quarter worth $616,000. MV Capital Management Inc. raised its position in shares of Accenture by 3.0% during the first quarter. MV Capital Management Inc. now owns 9,850 shares of the information technology services provider's stock worth $3,074,000 after acquiring an additional 290 shares during the last quarter. Franklin Street Advisors Inc. NC raised its position in shares of Accenture by 15.0% during the first quarter. Franklin Street Advisors Inc. NC now owns 46,042 shares of the information technology services provider's stock worth $14,367,000 after acquiring an additional 5,991 shares during the last quarter. Integrated Advisors Network LLC raised its position in shares of Accenture by 11.4% during the first quarter. Integrated Advisors Network LLC now owns 18,470 shares of the information technology services provider's stock worth $5,763,000 after acquiring an additional 1,885 shares during the last quarter. Finally, Atwood & Palmer Inc. raised its position in shares of Accenture by 407.4% during the first quarter. Atwood & Palmer Inc. now owns 137 shares of the information technology services provider's stock worth $43,000 after acquiring an additional 110 shares during the last quarter. Institutional investors own 75.14% of the company's stock.
Insider Buying and Selling at Accenture
In other news, General Counsel Joel Unruch sold 3,563 shares of the stock in a transaction that occurred 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 transaction, the general counsel now owns 17,237 shares in the company, valued at approximately $4,857,041.86. This trade represents a 17.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 2,284 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.63, for a total value of $643,242.92. Following the transaction, the chief executive officer now owns 9,965 shares in the company, valued at approximately $2,806,442.95. This trade represents a 18.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,516 shares of company stock worth $2,507,366 over the last 90 days. Company insiders own 0.02% of the company's stock.
Accenture Trading Down 2.1%
NYSE:ACN traded down $6.76 on Friday, reaching $311.37. The company's stock had a trading volume of 3,102,635 shares, compared to its average volume of 2,958,031. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market cap of $195.02 billion, a PE ratio of 26.12, a PEG ratio of 3.23 and a beta of 1.33. The business's 50-day moving average price is $305.50 and its two-hundred day moving average price is $335.58. Accenture plc has a 1-year low of $275.01 and a 1-year high of $398.35.
Accenture (NYSE:ACN - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.01. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $16.70 billion during the quarter, compared to analysts' expectations of $16.64 billion. During the same period in the prior year, the firm earned $2.77 earnings per share. Accenture's revenue for the quarter was up 5.7% compared to the same quarter last year. Equities research analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.
Accenture Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 10th were issued a dividend of $1.48 per share. The ex-dividend date was Thursday, April 10th. This represents a $5.92 annualized dividend and a yield of 1.90%. Accenture's payout ratio is presently 48.89%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. Mizuho dropped their target price on Accenture from $428.00 to $398.00 and set an "outperform" rating for the company in a research report on Wednesday, March 19th. Robert W. Baird raised Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 price objective for the company in a research note on Monday, March 17th. Baird R W raised Accenture from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. UBS Group reaffirmed a "buy" rating and set a $395.00 price objective (up from $390.00) on shares of Accenture in a research note on Thursday, May 22nd. Finally, Guggenheim decreased their price objective on Accenture from $400.00 to $395.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Accenture has an average rating of "Moderate Buy" and a consensus price target of $382.15.
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About Accenture
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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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