North Dakota State Investment Board Invests $5.76 Million in Accenture PLC $ACN

Key Points

• North Dakota State Investment Board opened a new position in Accenture during the fourth quarter, buying 21,471 shares valued at about $5.76 million.
• Accenture reported better-than-expected quarterly results, with EPS of $2.93 versus $2.84 expected and revenue of $18.04 billion, up 7.8% year over year.
• The company paid a quarterly dividend of $1.63 per share, or $6.52 annualized, for a 3.9% yield, while analysts currently rate the stock a Moderate Buy with a consensus price target of $274.50.

North Dakota State Investment Board acquired a new position in shares of Accenture PLC (NYSE:ACN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 21,471 shares of the information technology services provider's stock, valued at approximately $5,761,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Jaffetilchin Investment Partners LLC raised its stake in shares of Accenture by 4.2% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 878 shares of the information technology services provider's stock worth $236,000 after purchasing an additional 35 shares in the last quarter. Clayton Financial Group LLC raised its stake in shares of Accenture by 13.1% during the 4th quarter. Clayton Financial Group LLC now owns 329 shares of the information technology services provider's stock worth $88,000 after purchasing an additional 38 shares in the last quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. raised its stake in shares of Accenture by 0.9% during the 3rd quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 4,416 shares of the information technology services provider's stock worth $1,089,000 after purchasing an additional 41 shares in the last quarter. SkyView Investment Advisors LLC raised its stake in shares of Accenture by 1.2% during the 2nd quarter. SkyView Investment Advisors LLC now owns 3,751 shares of the information technology services provider's stock worth $1,108,000 after purchasing an additional 43 shares in the last quarter. Finally, IVC Wealth Advisors LLC raised its stake in shares of Accenture by 5.0% during the 4th quarter. IVC Wealth Advisors LLC now owns 927 shares of the information technology services provider's stock worth $249,000 after purchasing an additional 44 shares in the last quarter. Institutional investors own 75.14% of the company's stock.

Accenture Stock Performance

Shares of NYSE ACN opened at $168.94 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market cap of $112.42 billion, a price-to-earnings ratio of 13.84, a P/E/G ratio of 1.60 and a beta of 1.08. The stock's fifty day moving average price is $190.50 and its two-hundred day moving average price is $231.18. Accenture PLC has a one year low of $155.82 and a one year high of $322.86.

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 the consensus estimate of $2.84 by $0.09. The firm had revenue of $18.04 billion for the quarter, compared to analysts' expectations of $17.80 billion. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.82 EPS. On average, equities analysts forecast that Accenture PLC will post 13.87 EPS for the current year.

Accenture Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 9th were given a dividend of $1.63 per share. The ex-dividend date was Thursday, April 9th. This represents a $6.52 annualized dividend and a yield of 3.9%. Accenture's dividend payout ratio (DPR) is presently 53.40%.

Analysts Set New Price Targets

ACN has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on Accenture from $280.00 to $230.00 and set a "hold" rating on the stock in a research note on Friday, March 6th. Morgan Stanley dropped their price target on Accenture from $320.00 to $240.00 and set an "overweight" rating on the stock in a research note on Monday, March 16th. HSBC dropped their price target on Accenture from $220.00 to $210.00 and set a "hold" rating on the stock in a research note on Tuesday, April 14th. Truist Financial dropped their price target on Accenture from $317.00 to $260.00 and set a "buy" rating on the stock in a research note on Tuesday, March 10th. Finally, UBS Group restated a "buy" rating on shares of Accenture in a research note on Tuesday, March 17th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $274.50.

Insiders Place Their Bets

In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $177.14, for a total transaction of $863,026.08. Following the transaction, the chief executive officer owned 12,802 shares in the company, valued at $2,267,746.28. This trade represents a 27.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is owned by insiders.

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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