Retirement Systems of Alabama trimmed its position in shares of Accenture PLC (NYSE:ACN - Free Report) by 0.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 134,408 shares of the information technology services provider's stock after selling 880 shares during the period. Retirement Systems of Alabama's holdings in Accenture were worth $41,941,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. FPC Investment Advisory Inc. grew its holdings in shares of Accenture by 62.2% during the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider's stock valued at $28,000 after purchasing an additional 28 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Accenture in the fourth quarter worth about $30,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Accenture in the 4th quarter valued at about $30,000. Park Square Financial Group LLC purchased a new stake in Accenture during the 4th quarter valued at about $31,000. Finally, Promus Capital LLC purchased a new position in Accenture in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 75.14% of the company's stock.
Insider Transactions at Accenture
In other news, insider Angela Beatty sold 169 shares of the stock in a transaction 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 transaction, the insider now directly owns 5,364 shares of the company's stock, valued at $1,512,111.60. This represents a 3.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO John F. Walsh sold 2,500 shares of the company's stock in a transaction 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 sale, the chief operating officer now owns 15,882 shares of the company's stock, valued at approximately $5,161,650. This trade represents a 13.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,516 shares of company stock worth $2,507,366 over the last three months. 0.02% of the stock is currently owned by company insiders.
Accenture Stock Up 1.9%
Shares of ACN traded up $5.66 during trading hours on Tuesday, hitting $300.66. The company had a trading volume of 4,940,464 shares, compared to its average volume of 2,948,142. Accenture PLC has a 52-week low of $273.19 and a 52-week high of $398.35. The firm has a fifty day moving average price of $307.08 and a 200-day moving average price of $333.04. The stock has a market capitalization of $188.31 billion, a price-to-earnings ratio of 23.94, a P/E/G ratio of 2.85 and a beta of 1.33. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.48 and a current 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 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 the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm earned $3.13 earnings per share. On average, equities research analysts forecast that Accenture PLC will post 12.73 EPS for the current fiscal year.
Accenture Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 10th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, July 10th. Accenture's payout ratio is presently 47.13%.
Analyst Upgrades and Downgrades
ACN has been the topic of several recent analyst reports. Guggenheim cut 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. JPMorgan Chase & Co. boosted their price objective on shares of Accenture from $349.00 to $353.00 and gave the company an "overweight" rating in a research report on Monday, June 16th. Stifel Nicolaus dropped their target price on shares of Accenture from $390.00 to $380.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Mizuho reduced their price target on Accenture from $365.00 to $348.00 and set an "outperform" rating on the stock in a report on Tuesday. Finally, Piper Sandler dropped their price objective on Accenture from $364.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $370.75.
Check Out Our Latest Analysis on ACN
About Accenture
(
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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