Mirae Asset Global Investments Co. Ltd. Grows Stake in Accenture PLC $ACN

Key Points

• Mirae Asset Global Investments raised its Accenture stake by 32.0% in Q4 to 123,821 shares, valued at about $33.22 million.
• Insiders have been selling recently — executives sold a total of 15,331 shares worth $4.05 million in the past 90 days, including CEO Julie Sweet's sale of 6,057 shares and CAO Melissa Burgum's sale of 3,588 shares, leaving insiders with just 0.02% ownership.
• Accenture beat quarterly estimates (EPS $2.93 vs. $2.84; revenue $18.04B vs. $17.80B) and declared a quarterly dividend of $1.63 per share (annualized $6.52, ~3.3% yield); analysts' consensus is a Moderate Buy with a $274.50 price target.

Mirae Asset Global Investments Co. Ltd. grew its holdings in Accenture PLC (NYSE:ACN - Free Report) by 32.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 123,821 shares of the information technology services provider's stock after acquiring an additional 30,037 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Accenture were worth $33,221,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Harbor Capital Advisors Inc. increased its holdings in shares of Accenture by 132.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 107 shares of the information technology services provider's stock valued at $26,000 after acquiring an additional 61 shares during the last quarter. Triumph Capital Management purchased a new position in shares of Accenture in the 3rd quarter valued at about $26,000. Board of the Pension Protection Fund purchased a new position in shares of Accenture in the 4th quarter valued at about $27,000. Davis Capital Management purchased a new position in shares of Accenture in the 3rd quarter valued at about $28,000. Finally, Private Wealth Management Group LLC increased 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 valued at $29,000 after acquiring an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company's stock.

Insider Activity at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 6,057 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $241.23, for a total transaction of $1,461,130.11. Following the completion of the sale, the chief executive officer directly owned 15,255 shares of the company's stock, valued at approximately $3,679,963.65. This trade represents a 28.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Melissa A. Burgum sold 3,588 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $281.01, for a total value of $1,008,263.88. Following the sale, the chief accounting officer directly owned 8,179 shares of the company's stock, valued at $2,298,380.79. The trade was a 30.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 15,331 shares of company stock worth $4,048,871 in the last ninety days. Company insiders own 0.02% of the company's stock.

Accenture Trading Up 1.9%

NYSE:ACN opened at $197.71 on Friday. Accenture PLC has a 52-week low of $177.50 and a 52-week high of $325.71. The stock's 50 day moving average price is $204.18 and its 200 day moving average price is $239.90. 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 company has a market capitalization of $131.56 billion, a PE ratio of 16.19, a P/E/G ratio of 1.84 and a beta of 1.24.

Accenture (NYSE:ACN - Get Free Report) last posted its quarterly earnings data 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. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The company had revenue of $18.04 billion during the quarter, compared to analysts' expectations of $17.80 billion. During the same period last year, the firm earned $2.82 EPS. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. On average, research analysts anticipate that Accenture PLC will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 9th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Thursday, April 9th. Accenture's dividend payout ratio (DPR) is presently 53.40%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ACN. TD Cowen decreased their target price on Accenture from $282.00 to $275.00 and set a "buy" rating for the company in a research report on Monday, March 16th. Argus dropped their price target on Accenture from $370.00 to $335.00 and set a "buy" rating on the stock in a research note on Monday, December 29th. Robert W. Baird dropped their price target on Accenture from $330.00 to $265.00 and set an "outperform" rating on the stock in a research note on Friday, March 20th. Berenberg Bank assumed coverage on Accenture in a research note on Thursday, January 22nd. They set a "buy" rating and a $313.00 price target on the stock. Finally, Susquehanna raised their price target on Accenture from $270.00 to $277.00 and gave the stock a "neutral" rating in a research note on Friday, December 19th. Seventeen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $274.50.

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.

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