Mirae Asset Global Investments Co. Ltd. Acquires 9,928 Shares of Accenture PLC (NYSE:ACN)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Accenture PLC (NYSE:ACN - Free Report) by 17.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,606 shares of the information technology services provider's stock after buying an additional 9,928 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Accenture were worth $19,744,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Accenture in the fourth quarter valued at $30,000. Mpwm Advisory Solutions LLC purchased a new position in Accenture in the 4th quarter valued at about $30,000. Park Square Financial Group LLC purchased a new stake in shares of Accenture during the fourth quarter worth about $31,000. Promus Capital LLC acquired a new position in shares of Accenture in the fourth quarter worth about $34,000. Finally, Capital A Wealth Management LLC purchased a new position in Accenture in the fourth quarter valued at about $34,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Stock Performance

ACN stock traded up $4.23 during midday trading on Tuesday, hitting $303.12. The stock had a trading volume of 1,925,584 shares, compared to its average volume of 2,892,349. Accenture PLC has a 52 week low of $273.19 and a 52 week high of $398.35. The firm has a market capitalization of $189.85 billion, a price-to-earnings ratio of 24.15, a P/E/G ratio of 2.89 and a beta of 1.33. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock has a 50-day simple moving average of $308.43 and a 200 day simple moving average of $330.80.

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

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 10th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Thursday, July 10th. Accenture's payout ratio is 47.13%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ACN shares. Morgan Stanley dropped their target price on shares of Accenture from $340.00 to $325.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 24th. JPMorgan Chase & Co. boosted their price target on Accenture from $349.00 to $353.00 and gave the company an "overweight" rating in a report on Monday, June 16th. Argus set a $370.00 price objective on Accenture in a research note on Tuesday, June 24th. Barclays lowered their target price on shares of Accenture from $390.00 to $360.00 and set an "overweight" rating for the company in a research note on Monday, June 23rd. Finally, BMO Capital Markets reduced their price target on shares of Accenture from $355.00 to $325.00 and set a "market perform" rating on the stock in a research report on Monday, June 23rd. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $370.71.

Insiders Place Their Bets

In other Accenture news, General Counsel Joel Unruch sold 3,563 shares of the stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.78, for a total transaction of $1,003,982.14. Following the sale, the general counsel owned 17,237 shares of the company's stock, valued at $4,857,041.86. This represents a 17.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John F. Walsh sold 2,500 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total transaction of $812,500.00. Following the completion of the transaction, the chief operating officer directly owned 15,882 shares of the company's stock, valued at approximately $5,161,650. This represents a 13.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,516 shares of company stock valued at $2,507,366 over the last quarter. 0.02% of the stock is owned by insiders.

Accenture 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.