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Farther Finance Advisors LLC Boosts Holdings in Accenture PLC $ACN

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Key Points

  • Farther Finance Advisors increased its stake in Accenture by 57.7% in Q4, adding 11,663 shares to hold 31,885 shares valued at about $8.56 million; institutional investors now own 75.14% of the company.
  • Insider selling was notable: CEO Julie Spellman Sweet sold 6,057 shares (a 28.42% reduction in her holdings) and insiders sold 15,331 shares worth roughly $4.05 million over the last quarter, leaving only 0.02% insider ownership.
  • Company performance and shareholder return—Accenture beat quarterly EPS estimates ($2.93 vs. $2.84) with revenue of $18.04 billion (+7.8% YoY), declared a $1.63 quarterly dividend (3.4% yield), and carries an average analyst target of $274.50 ("Moderate Buy").
  • Five stocks we like better than Accenture.

Farther Finance Advisors LLC grew its stake in Accenture PLC (NYSE:ACN - Free Report) by 57.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,885 shares of the information technology services provider's stock after purchasing an additional 11,663 shares during the quarter. Farther Finance Advisors LLC's holdings in Accenture were worth $8,555,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. State Street Corp grew its position in shares of Accenture by 0.4% in the third quarter. State Street Corp now owns 28,135,065 shares of the information technology services provider's stock valued at $6,938,156,000 after purchasing an additional 118,460 shares during the period. Capital International Investors grew its position in shares of Accenture by 41.1% in the third quarter. Capital International Investors now owns 17,128,134 shares of the information technology services provider's stock valued at $4,223,839,000 after purchasing an additional 4,984,930 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Accenture by 5.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,693,994 shares of the information technology services provider's stock valued at $2,869,199,000 after purchasing an additional 546,198 shares during the period. Sanders Capital LLC grew its position in shares of Accenture by 9.0% in the third quarter. Sanders Capital LLC now owns 9,615,366 shares of the information technology services provider's stock valued at $2,371,149,000 after purchasing an additional 790,580 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Accenture by 4.4% in the third quarter. Franklin Resources Inc. now owns 7,050,483 shares of the information technology services provider's stock valued at $1,738,649,000 after purchasing an additional 295,762 shares during the period. Institutional investors and hedge funds own 75.14% of the company's stock.

Insider Buying and Selling at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 6,057 shares of Accenture stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $241.23, for a total transaction of $1,461,130.11. Following the completion of the sale, the chief executive officer directly owned 15,255 shares in the company, valued at $3,679,963.65. This trade represents a 28.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Joel Unruch sold 1,026 shares of Accenture stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $281.70, for a total transaction of $289,024.20. Following the sale, the general counsel owned 27,181 shares of the company's stock, valued at approximately $7,656,887.70. This represents a 3.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 15,331 shares of company stock valued at $4,048,871. 0.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ACN shares. Piper Sandler set a $282.00 price target on shares of Accenture in a research note on Thursday, March 5th. HSBC decreased their price target on shares of Accenture from $220.00 to $210.00 and set a "hold" rating on the stock in a research note on Tuesday. Royal Bank Of Canada decreased their price target on shares of Accenture from $295.00 to $253.00 and set an "outperform" rating on the stock in a research note on Friday, March 20th. JPMorgan Chase & Co. raised their price target on shares of Accenture from $243.00 to $247.00 and gave the stock an "overweight" rating in a research note on Friday, March 20th. Finally, Rothschild & Co Redburn raised their price target on shares of Accenture from $205.00 to $210.00 and gave the stock a "neutral" rating in a research note on Monday, January 5th. Seventeen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $274.50.

Check Out Our Latest Stock Report on Accenture

Accenture News Summary

Here are the key news stories impacting Accenture this week:

Accenture Price Performance

Shares of ACN stock opened at $193.94 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.34 and a quick ratio of 1.34. The firm's 50-day moving average is $205.84 and its two-hundred day moving average is $240.56. Accenture PLC has a 12 month low of $177.50 and a 12 month high of $325.71. The company has a market capitalization of $129.06 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 1.81 and a beta of 1.24.

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

Accenture Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 9th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, April 9th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.4%. Accenture's dividend payout ratio (DPR) is currently 53.40%.

About Accenture

(Free Report)

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.

Read More

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).

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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.

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