Gateway Investment Advisers LLC Has $3.92 Million Stake in Accenture PLC $ACN

Key Points

• Gateway Investment Advisers LLC increased its stake in Accenture by 82.7% in Q4 to 14,603 shares worth about $3.92 million.
• Accenture reported an earnings beat (EPS $2.93 vs. $2.84) and $18.04 billion in revenue for the quarter, and announced a quarterly dividend of $1.63 (annualized $6.52) yielding about 3.6%.
• Analysts hold a consensus rating of Moderate Buy with a $274.50 target, though several firms have trimmed price targets; ACN is trading near $180, well below consensus targets.

Gateway Investment Advisers LLC boosted its stake in Accenture PLC (NYSE:ACN - Free Report) by 82.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,603 shares of the information technology services provider's stock after buying an additional 6,610 shares during the quarter. Gateway Investment Advisers LLC's holdings in Accenture were worth $3,918,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Board of the Pension Protection Fund bought a new position in Accenture in the 4th quarter valued at $27,000. Laurel Wealth Advisors LLC bought a new position in Accenture in the 4th quarter valued at $27,000. Triumph Capital Management bought a new position in Accenture in the 3rd quarter valued at $26,000. Private Wealth Management Group LLC raised its position in 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 valued at $29,000 after purchasing an additional 53 shares during the last quarter. Finally, Steph & Co. raised its position in Accenture by 107.5% in the 4th quarter. Steph & Co. now owns 110 shares of the information technology services provider's stock valued at $30,000 after purchasing an additional 57 shares during the last quarter. Institutional investors own 75.14% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on ACN. Royal Bank Of Canada cut their price objective on Accenture from $295.00 to $253.00 and set an "outperform" rating for the company in a research report on Friday, March 20th. Berenberg Bank began coverage on Accenture in a research report on Thursday, January 22nd. They issued a "buy" rating and a $313.00 price objective for the company. Deutsche Bank Aktiengesellschaft cut their price objective on Accenture from $280.00 to $230.00 and set a "hold" rating for the company in a research report on Friday, March 6th. Robert W. Baird cut their price objective on Accenture from $330.00 to $265.00 and set an "outperform" rating for the company in a research report on Friday, March 20th. Finally, JPMorgan Chase & Co. boosted their target price on Accenture from $243.00 to $247.00 and gave the stock an "overweight" rating in a research report on Friday, March 20th. Seventeen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $274.50.

Accenture Trading Up 3.3%

ACN stock opened at $180.39 on Friday. The company has a market cap of $120.04 billion, a P/E ratio of 14.77, a PEG ratio of 1.66 and a beta of 1.08. Accenture PLC has a twelve month low of $173.52 and a twelve month high of $325.71. 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 business has a fifty day moving average of $194.89 and a 200-day moving average of $234.53.

Accenture (NYSE:ACN - Get Free Report) last released its earnings results on Friday, March 20th. The information technology services provider reported $2.93 earnings per share for the quarter, topping analysts' consensus estimates of $2.84 by $0.09. The company had revenue of $18.04 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.82 earnings per share. As a group, equities research analysts expect that Accenture PLC will post 13.87 EPS for the current year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 9th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Thursday, April 9th. Accenture's dividend payout ratio is currently 53.40%.

Insider Transactions at Accenture

In related news, CEO Atsushi Egawa sold 4,872 shares of the company's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $177.14, for a total value of $863,026.08. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Julie Spellman Sweet sold 6,057 shares of the company's stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $241.23, for a total value of $1,461,130.11. Following the completion of the sale, the chief executive officer owned 15,255 shares of the company's stock, valued at $3,679,963.65. This represents a 28.42% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.02% of the company's stock.

Accenture Profile

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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