Raiffeisen Bank International AG Has $59.52 Million Stock Holdings in Accenture PLC (NYSE:ACN)

Key Points

• Raiffeisen Bank International AG reduced its stake in Accenture PLC by 0.8%, holding 195,581 shares valued at approximately $59.52 million, making it the bank's 27th largest investment.
• Accenture reported $3.49 EPS for the last quarter, exceeding estimates, with a quarter revenue of $17.73 billion, a 7.7% increase year-over-year.
• The firm declared a quarterly dividend of $1.48 per share, with a payout ratio of 47.13%, highlighting a 2.3% dividend yield for shareholders.

Raiffeisen Bank International AG lessened its position in Accenture PLC (NYSE:ACN - Free Report) by 0.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 195,581 shares of the information technology services provider's stock after selling 1,603 shares during the period. Accenture comprises approximately 0.9% of Raiffeisen Bank International AG's holdings, making the stock its 27th biggest holding. Raiffeisen Bank International AG's holdings in Accenture were worth $59,521,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mpwm Advisory Solutions LLC acquired a new stake in shares of Accenture in the 4th quarter valued at $30,000. Park Square Financial Group LLC acquired a new stake in shares of Accenture in the 4th quarter valued at $31,000. Capital A Wealth Management LLC bought a new position in shares of Accenture in the fourth quarter valued at about $34,000. Inlight Wealth Management LLC bought a new position in shares of Accenture in the first quarter valued at about $32,000. Finally, Navigoe LLC bought a new position in shares of Accenture in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 75.14% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. HSBC assumed coverage on Accenture in a report on Monday, July 28th. They issued a "reduce" rating and a $240.00 price target for the company. JPMorgan Chase & Co. lifted 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 target on Accenture in a report on Tuesday, June 24th. Barclays cut their target price on shares of Accenture from $390.00 to $360.00 and set an "overweight" rating on the stock in a research report on Monday, June 23rd. Finally, Morgan Stanley cut their target price on shares of Accenture from $340.00 to $325.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $360.21.

Insider Buying and Selling at Accenture

In other news, CEO Mauro Macchi sold 500 shares of the business's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $282.34, for a total value of $141,170.00. Following the completion of the sale, the chief executive officer owned 2,283 shares of the company's stock, valued at approximately $644,582.22. The trade was a 17.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Angela Beatty sold 203 shares of the business's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $282.34, for a total value of $57,315.02. Following the completion of the transaction, the insider directly owned 5,249 shares of the company's stock, valued at approximately $1,482,002.66. This trade represents a 3.72% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,454 shares of company stock worth $1,646,780. Insiders own 0.02% of the company's stock.

Accenture Trading Down 4.5%

Shares of Accenture stock opened at $255.18 on Friday. The business has a fifty day simple moving average of $297.98 and a two-hundred day simple moving average of $319.33. Accenture PLC has a 1 year low of $254.20 and a 1 year high of $398.35. The company has a market capitalization of $159.83 billion, a price-to-earnings ratio of 20.32, a P/E/G ratio of 2.32 and a beta of 1.29. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings results 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. Accenture had a return on equity of 26.55% and a net margin of 11.61%. The business had revenue of $17.73 billion during the quarter, compared to the consensus estimate of $17.26 billion. During the same quarter last year, the firm posted $3.13 EPS. The company's quarterly revenue was up 7.7% on a year-over-year basis. Research analysts forecast that Accenture PLC will post 12.73 EPS for the current year.

Accenture Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 10th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, July 10th. Accenture's payout ratio is presently 47.13%.

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.

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