NTV Asset Management LLC trimmed its position in shares of Accenture PLC (NYSE:ACN - Free Report) by 34.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,684 shares of the information technology services provider's stock after selling 875 shares during the period. NTV Asset Management LLC's holdings in Accenture were worth $525,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Accenture by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 60,394,657 shares of the information technology services provider's stock valued at $21,246,236,000 after acquiring an additional 392,183 shares during the last quarter. Geode Capital Management LLC increased its holdings in Accenture by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 13,528,348 shares of the information technology services provider's stock valued at $4,750,021,000 after acquiring an additional 136,665 shares during the last quarter. Capital Research Global Investors increased its holdings in Accenture by 16.8% in 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 acquiring an additional 1,770,024 shares during the last quarter. Wellington Management Group LLP increased its holdings in 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 acquiring an additional 2,260,740 shares during the last quarter. Finally, Capital International Investors increased its holdings in Accenture by 2.2% in the 4th quarter. Capital International Investors now owns 8,513,140 shares of the information technology services provider's stock valued at $2,994,922,000 after acquiring an additional 181,449 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.
Insider Activity at Accenture
In other Accenture news, CEO Julie Spellman Sweet sold 2,284 shares of the business's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.63, for a total value of $643,242.92. Following the completion of the sale, the chief executive officer directly owned 9,965 shares of the company's stock, valued at $2,806,442.95. The trade was a 18.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Angela Beatty sold 169 shares of the company's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.90, for a total transaction of $47,641.10. Following the completion of the sale, the insider directly owned 5,364 shares of the company's stock, valued at $1,512,111.60. The trade was a 3.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,516 shares of company stock valued at $2,507,366 in the last quarter. Corporate insiders own 0.02% of the company's stock.
Analysts Set New Price Targets
A number of analysts have issued reports on the stock. Baird R W upgraded shares of Accenture from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Robert W. Baird upgraded shares of Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 price target on the stock in a report on Monday, March 17th. Guggenheim reduced their target price on shares of Accenture from $360.00 to $335.00 and set a "buy" rating on the stock in a report on Monday, June 23rd. Piper Sandler reduced their target price on shares of Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Barclays reduced their target price on shares of Accenture from $390.00 to $360.00 and set an "overweight" rating on the stock in a report on Monday, June 23rd. Seven equities 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $370.71.
Check Out Our Latest Analysis on ACN
Accenture Price Performance
ACN stock opened at $303.27 on Wednesday. The stock has a market cap of $189.95 billion, a PE ratio of 24.15, a P/E/G ratio of 2.82 and a beta of 1.29. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. Accenture PLC has a 12 month low of $273.19 and a 12 month high of $398.35. The company has a 50-day moving average price of $309.78 and a 200 day moving average price of $328.62.
Accenture (NYSE:ACN - Get Free Report) last released its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.17. The company had revenue of $17.73 billion during the quarter, compared to analysts' expectations of $17.26 billion. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The firm's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.13 EPS. Equities research analysts anticipate that Accenture PLC will post 12.73 earnings per share for the current year.
Accenture Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 10th will be given a $1.48 dividend. The ex-dividend date is Thursday, July 10th. This represents a $5.92 annualized dividend and a yield of 1.95%. Accenture's dividend payout ratio (DPR) is 47.13%.
Accenture Profile
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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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