Iams Wealth Management LLC raised its position in shares of Accenture plc (NYSE:ACN - Free Report) by 21.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,508 shares of the information technology services provider's stock after purchasing an additional 1,154 shares during the quarter. Iams Wealth Management LLC's holdings in Accenture were worth $2,031,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Accenture by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 60,394,657 shares of the information technology services provider's stock worth $21,246,236,000 after purchasing an additional 392,183 shares during the period. Geode Capital Management LLC grew its stake in shares of Accenture by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 13,528,348 shares of the information technology services provider's stock worth $4,750,021,000 after purchasing an additional 136,665 shares during the period. Capital Research Global Investors increased its holdings in shares of Accenture by 16.8% during the 4th quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider's stock valued at $4,325,526,000 after purchasing an additional 1,770,024 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Accenture by 22.8% in the 4th quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider's stock valued at $4,283,225,000 after purchasing an additional 2,260,740 shares during the period. Finally, Capital International Investors boosted its holdings in Accenture by 2.2% during the fourth quarter. Capital International Investors now owns 8,513,140 shares of the information technology services provider's stock worth $2,994,922,000 after buying an additional 181,449 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
ACN has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on shares of Accenture from $364.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Guggenheim dropped their price objective on Accenture from $400.00 to $395.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Morgan Stanley reduced their target price on Accenture from $380.00 to $372.00 and set an "equal weight" rating for the company in a research note on Monday, March 17th. Barclays reduced their price objective on shares of Accenture from $415.00 to $390.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Finally, UBS Group reiterated a "buy" rating and issued a $395.00 price objective (up from $390.00) on shares of Accenture in a report on Thursday, May 22nd. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $382.14.
Read Our Latest Stock Report on ACN
Insider Buying and Selling
In related news, insider Angela Beatty sold 169 shares of the business's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $281.90, for a total value of $47,641.10. Following the sale, the insider now owns 5,364 shares in the company, valued at approximately $1,512,111.60. The trade was a 3.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Joel Unruch sold 3,563 shares of the firm's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.78, for a total value of $1,003,982.14. Following the transaction, the general counsel now owns 17,237 shares of the company's stock, valued at $4,857,041.86. This trade represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,516 shares of company stock valued at $2,507,366. Company insiders own 0.02% of the company's stock.
Accenture Trading Down 0.4%
Shares of ACN stock traded down $1.26 during trading on Thursday, hitting $315.14. 3,785,329 shares of the stock traded hands, compared to its average volume of 2,969,043. Accenture plc has a 52-week low of $275.01 and a 52-week high of $398.35. The firm has a market capitalization of $197.38 billion, a P/E ratio of 26.44, a price-to-earnings-growth ratio of 3.23 and a beta of 1.33. The firm's fifty day moving average price is $303.02 and its 200-day moving average price is $337.76. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47.
Accenture (NYSE:ACN - Get Free Report) last posted its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, beating analysts' consensus estimates of $2.81 by $0.01. The company had revenue of $16.70 billion for the quarter, compared to the consensus estimate of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.77 earnings per share. As a group, research analysts forecast that Accenture plc will post 12.73 earnings per share for the current fiscal year.
Accenture Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Thursday, April 10th. Accenture's dividend payout ratio (DPR) is 48.89%.
About Accenture
(
Free Report)
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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