Fideuram Asset Management Ireland dac Invests $2.33 Million in Accenture PLC $ACN

Key Points

• Fideuram Asset Management Ireland dac opened a new position in Accenture during the fourth quarter, buying 8,684 shares worth about $2.33 million.
• Accenture’s latest quarterly results beat expectations, with EPS of $2.93 versus $2.84 expected and revenue of $18.04 billion, up 7.8% year over year.
• Analysts remain generally positive despite recent target cuts: the stock carries a Moderate Buy consensus, with 17 Buy ratings and an average price target of $274.50.

Fideuram Asset Management Ireland dac acquired a new position in Accenture PLC (NYSE:ACN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,684 shares of the information technology services provider's stock, valued at approximately $2,330,000.

Other hedge funds have also recently made changes to their positions in the company. Board of the Pension Protection Fund bought a new stake in shares of Accenture in the 4th quarter worth approximately $27,000. Laurel Wealth Advisors LLC bought a new stake in shares of Accenture in the 4th quarter worth approximately $27,000. Triumph Capital Management bought a new stake in shares of Accenture in the 3rd quarter worth approximately $26,000. Private Wealth Management Group LLC lifted its holdings in shares of Accenture by 96.4% in the 4th quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider's stock worth $29,000 after acquiring an additional 53 shares during the last quarter. Finally, Steph & Co. lifted its holdings in shares of Accenture by 107.5% in the 4th quarter. Steph & Co. now owns 110 shares of the information technology services provider's stock worth $30,000 after acquiring an additional 57 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ACN has been the subject of a number of recent research reports. Guggenheim lowered their price objective on shares of Accenture from $275.00 to $250.00 and set a "buy" rating for the company in a report on Friday, March 20th. UBS Group reiterated a "buy" rating on shares of Accenture in a report on Tuesday, March 17th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Accenture from $280.00 to $230.00 and set a "hold" rating for the company in a report on Friday, March 6th. Morgan Stanley lowered their price target on shares of Accenture from $320.00 to $240.00 and set an "overweight" rating for the company in a report on Monday, March 16th. Finally, BMO Capital Markets lowered their price target on shares of Accenture from $300.00 to $230.00 and set a "market perform" rating for the company in a report on Friday, March 20th. Seventeen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $274.50.

Accenture Trading Up 5.0%

NYSE:ACN opened at $187.32 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.16. Accenture PLC has a 52 week low of $155.82 and a 52 week high of $321.77. The firm has a market capitalization of $124.65 billion, a P/E ratio of 15.34, a P/E/G ratio of 1.69 and a beta of 1.08. The company has a fifty day moving average of $185.71 and a 200 day moving average of $226.50.

Accenture (NYSE:ACN - Get Free Report) last issued its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The business had revenue of $18.04 billion during the quarter, compared to analyst estimates of $17.80 billion. During the same period in the prior year, the business earned $2.82 EPS. The company's revenue for the quarter was up 7.8% on a year-over-year basis. On average, research analysts predict that Accenture PLC will post 13.87 earnings per share for the current year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 9th were issued a $1.63 dividend. The ex-dividend date was Thursday, April 9th. This represents a $6.52 annualized dividend and a yield of 3.5%. Accenture's dividend payout ratio is 53.40%.

Insider Buying and Selling at Accenture

In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of the company's stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $177.14, for a total transaction of $863,026.08. Following the transaction, the chief executive officer owned 12,802 shares in the company, valued at approximately $2,267,746.28. This represents a 27.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.02% of the company's stock.

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.

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.