Flossbach Von Storch SE Raises Stock Holdings in Accenture PLC (NYSE:ACN)

Flossbach Von Storch SE raised its holdings in Accenture PLC (NYSE:ACN - Free Report) by 8.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,627,589 shares of the information technology services provider's stock after acquiring an additional 123,104 shares during the period. Accenture comprises 2.2% of Flossbach Von Storch SE's holdings, making the stock its 19th biggest holding. Flossbach Von Storch SE owned approximately 0.26% of Accenture worth $507,873,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Accenture during the fourth quarter worth about $2,351,683,000. GAMMA Investing LLC boosted its holdings in shares of Accenture by 30,256.8% during the 1st quarter. GAMMA Investing LLC now owns 3,421,519 shares of the information technology services provider's stock worth $1,067,651,000 after buying an additional 3,410,248 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Accenture by 22.8% during the fourth quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider's stock worth $4,283,225,000 after purchasing an additional 2,260,740 shares during the period. Capital Research Global Investors raised its position in shares of Accenture by 16.8% during the fourth quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider's stock worth $4,325,526,000 after purchasing an additional 1,770,024 shares during the period. Finally, Northern Trust Corp raised its position in Accenture by 10.7% in the 4th quarter. Northern Trust Corp now owns 7,582,344 shares of the information technology services provider's stock valued at $2,667,393,000 after buying an additional 732,769 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

Accenture Stock Performance

ACN traded down $7.35 during midday trading on Friday, reaching $281.01. The company had a trading volume of 5,075,763 shares, compared to its average volume of 2,924,951. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average of $309.49 and a two-hundred day moving average of $327.92. The company has a market cap of $176.00 billion, a P/E ratio of 22.37, a P/E/G ratio of 2.79 and a beta of 1.29. Accenture PLC has a 1 year low of $273.19 and a 1 year high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last issued its quarterly earnings results on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, topping analysts' consensus estimates of $3.32 by $0.17. The business had revenue of $17.73 billion during the quarter, compared to analysts' expectations of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%. The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.13 earnings per share. As a group, equities research analysts predict that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Thursday, July 10th. Accenture's payout ratio is presently 47.13%.

Insider Buying and Selling

In other news, COO John F. Walsh sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total transaction of $812,500.00. Following the transaction, the chief operating officer owned 15,882 shares of the company's stock, valued at approximately $5,161,650. The trade was a 13.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.02% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ACN. Guggenheim cut their target price on Accenture from $360.00 to $335.00 and set a "buy" rating for the company in a research note on Monday, June 23rd. Mizuho set a $348.00 price target on Accenture and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. Morgan Stanley cut their price objective on Accenture from $340.00 to $325.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 24th. JPMorgan Chase & Co. lifted their price target on Accenture from $349.00 to $353.00 and gave the company an "overweight" rating in a research report on Monday, June 16th. Finally, Benchmark restated a "mixed" rating on shares of Accenture in a research report on Friday, June 20th. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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.