Slow Capital Inc. Buys 6,961 Shares of Accenture PLC (NYSE:ACN)

Slow Capital Inc. grew its stake in Accenture PLC (NYSE:ACN - Free Report) by 76.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,019 shares of the information technology services provider's stock after purchasing an additional 6,961 shares during the period. Slow Capital Inc.'s holdings in Accenture were worth $4,999,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ACN. Norges Bank bought a new stake in shares of Accenture in the 4th quarter valued at approximately $2,351,683,000. GAMMA Investing LLC lifted its stake in shares of Accenture by 30,256.8% in the 1st quarter. GAMMA Investing LLC now owns 3,421,519 shares of the information technology services provider's stock valued at $1,067,651,000 after purchasing an additional 3,410,248 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Accenture by 22.8% during the 4th quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider's stock worth $4,283,225,000 after acquiring an additional 2,260,740 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Accenture by 16.8% during the 4th quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider's stock worth $4,325,526,000 after acquiring an additional 1,770,024 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Accenture by 10.7% during the 4th quarter. Northern Trust Corp now owns 7,582,344 shares of the information technology services provider's stock worth $2,667,393,000 after acquiring an additional 732,769 shares during the last quarter. 75.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ACN shares. Argus set a $370.00 price target on Accenture in a research note on Tuesday, June 24th. Mizuho set a $348.00 price target on Accenture and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. Piper Sandler decreased their price target on Accenture from $364.00 to $355.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Guggenheim decreased their price target on Accenture from $360.00 to $335.00 and set a "buy" rating for the company in a research note on Monday, June 23rd. Finally, Barclays decreased their price target on Accenture from $390.00 to $360.00 and set an "overweight" rating for the company in a research note 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Accenture has a consensus rating of "Moderate Buy" and a consensus price target of $370.71.

Insider Activity at Accenture

In other news, COO John F. Walsh sold 2,500 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total value of $812,500.00. Following the sale, the chief operating officer owned 15,882 shares in the company, valued at $5,161,650. This represents a 13.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.02% of the stock is owned by insiders.

Accenture Stock Down 2.5%

Shares of ACN stock opened at $281.01 on Monday. Accenture PLC has a 1-year low of $273.19 and a 1-year high of $398.35. The stock's fifty day moving average price is $309.00 and its 200 day moving average price is $326.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The company has a market cap of $176.00 billion, a price-to-earnings ratio of 22.37, a price-to-earnings-growth ratio of 2.64 and a beta of 1.29.

Accenture (NYSE:ACN - Get Free Report) last posted 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 business had revenue of $17.73 billion for the quarter, compared to the consensus estimate of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%. The company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.13 EPS. On average, research analysts expect that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Accenture Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 10th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 2.11%. Accenture's payout ratio is 47.13%.

Accenture Company 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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