Securian Asset Management Inc. Reduces Stock Position in Accenture PLC $ACN

Key Points

• Securian Asset Management cut its Accenture stake by 43.9% in the fourth quarter, selling 13,217 shares and leaving it with 16,863 shares worth about $4.52 million.
• Several other large institutions also adjusted their positions, with firms like Vanguard and Capital International Investors increasing holdings; overall, 75.14% of Accenture stock is owned by hedge funds and other institutional investors.
• Accenture reported better-than-expected quarterly results, including $2.93 EPS on $18.04 billion in revenue, and it also announced a quarterly dividend of $1.63 per share payable May 15.

Securian Asset Management Inc. cut its stake in Accenture PLC (NYSE:ACN - Free Report) by 43.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,863 shares of the information technology services provider's stock after selling 13,217 shares during the period. Securian Asset Management Inc.'s holdings in Accenture were worth $4,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in ACN. Vanguard Group Inc. grew its position in Accenture by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 66,070,930 shares of the information technology services provider's stock worth $17,726,831,000 after acquiring an additional 854,361 shares during the period. State Street Corp grew its position in Accenture by 0.4% in the third quarter. State Street Corp now owns 28,135,065 shares of the information technology services provider's stock worth $6,938,156,000 after acquiring an additional 118,460 shares during the period. Capital International Investors grew its position in Accenture by 41.1% in the third quarter. Capital International Investors now owns 17,128,134 shares of the information technology services provider's stock worth $4,223,839,000 after acquiring an additional 4,984,930 shares during the period. Massachusetts Financial Services Co. MA grew its position in Accenture by 5.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,693,994 shares of the information technology services provider's stock worth $2,869,199,000 after acquiring an additional 546,198 shares during the period. Finally, Sanders Capital LLC grew its position in Accenture by 9.0% in the third quarter. Sanders Capital LLC now owns 9,615,366 shares of the information technology services provider's stock worth $2,371,149,000 after acquiring an additional 790,580 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Accenture

In other 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 value of $863,026.08. Following the sale, the chief executive officer directly owned 12,802 shares in the company, valued at approximately $2,267,746.28. This trade represents a 27.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Julie Spellman Sweet sold 6,057 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $241.23, for a total value of $1,461,130.11. Following the completion of the sale, the chief executive officer owned 15,255 shares in the company, valued at approximately $3,679,963.65. The trade was a 28.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.02% of the stock is currently owned by company insiders.

Accenture Stock Down 0.0%

NYSE:ACN opened at $180.41 on Monday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.16. The stock's fifty day moving average is $194.89 and its two-hundred day moving average is $234.53. Accenture PLC has a 52 week low of $172.52 and a 52 week high of $325.71. The stock has a market capitalization of $120.05 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.71 and a beta of 1.08.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. The business 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 revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $2.82 earnings per share. Research analysts anticipate that Accenture PLC will post 13.87 EPS for the current year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 9th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Thursday, April 9th. Accenture's dividend payout ratio (DPR) is presently 53.40%.

Analysts Set New Price Targets

Several research analysts recently weighed in on ACN shares. Deutsche Bank Aktiengesellschaft lowered their price objective on Accenture from $280.00 to $230.00 and set a "hold" rating for the company in a research report on Friday, March 6th. Piper Sandler set a $282.00 price objective on Accenture in a research report on Thursday, March 5th. Citigroup decreased their price target on Accenture from $266.00 to $215.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 25th. Guggenheim decreased their price target on Accenture from $275.00 to $250.00 and set a "buy" rating on the stock in a research note on Friday, March 20th. Finally, TD Cowen decreased their price target on Accenture from $282.00 to $275.00 and set a "buy" rating on the stock in a research note on Monday, March 16th. Seventeen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $274.50.

About Accenture

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.