Mn Services Vermogensbeheer B.V. Decreases Position in Accenture plc (NYSE:ACN)

Mn Services Vermogensbeheer B.V. lessened its stake in Accenture plc (NYSE:ACN - Free Report) by 6.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 230,566 shares of the information technology services provider's stock after selling 17,100 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Accenture were worth $71,946,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ACN. FPC Investment Advisory Inc. increased its position in Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider's stock valued at $28,000 after acquiring an additional 28 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Accenture during the 4th quarter valued at about $30,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Accenture during the 4th quarter valued at about $30,000. Park Square Financial Group LLC bought a new position in shares of Accenture in the 4th quarter worth approximately $31,000. Finally, Promus Capital LLC purchased a new position in shares of Accenture in the fourth quarter worth approximately $34,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ACN has been the topic of several recent research reports. Mizuho decreased their price target on shares of Accenture from $428.00 to $398.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 19th. BMO Capital Markets boosted their price objective on Accenture to $355.00 and gave the company a "hold" rating in a research note on Wednesday, March 26th. Piper Sandler decreased their target price on shares of Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. UBS Group reiterated a "buy" rating and issued a $395.00 price target (up from $390.00) on shares of Accenture in a research report on Thursday, May 22nd. Finally, Barclays decreased their price objective on shares of Accenture from $415.00 to $390.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $382.15.

Insider Activity at Accenture

In related news, COO John F. Walsh sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $325.00, for a total value of $812,500.00. Following the completion of the transaction, the chief operating officer now owns 15,882 shares of the company's stock, valued at $5,161,650. The trade was a 13.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 completion of the transaction, the insider now directly owns 5,364 shares of the company's stock, valued at approximately $1,512,111.60. The trade was a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,516 shares of company stock worth $2,507,366 in the last quarter. 0.02% of the stock is owned by company insiders.

Accenture Price Performance

Accenture stock traded down $6.76 during midday trading on Friday, reaching $311.37. 3,102,635 shares of the stock traded hands, compared to its average volume of 2,958,031. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 12 month low of $275.01 and a 12 month high of $398.35. The stock's fifty day moving average is $305.50 and its 200-day moving average is $335.58. The stock has a market cap of $195.02 billion, a P/E ratio of 26.12, a PEG ratio of 3.23 and a beta of 1.33.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.01. The company had revenue of $16.70 billion for the quarter, compared to analysts' expectations of $16.64 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. Accenture's quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.77 earnings per share. As a group, equities research analysts anticipate that Accenture plc will post 12.73 EPS for the current year.

Accenture Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.90%. The ex-dividend date was Thursday, April 10th. Accenture's payout ratio is currently 48.89%.

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.