Sovran Advisors LLC lifted its position in shares of Accenture PLC (NYSE:ACN - Free Report) by 50.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,362 shares of the information technology services provider's stock after purchasing an additional 1,472 shares during the quarter. Sovran Advisors LLC's holdings in Accenture were worth $1,361,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of ACN. Capital Research Global Investors boosted its stake in 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 valued at $4,325,526,000 after purchasing an additional 1,770,024 shares during the last quarter. Alteri Wealth LLC bought a new stake in Accenture during the fourth quarter worth $321,000. Proficio Capital Partners LLC raised its position in Accenture by 47.6% in the 4th quarter. Proficio Capital Partners LLC now owns 2,446 shares of the information technology services provider's stock valued at $861,000 after buying an additional 789 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Accenture by 62.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 905 shares of the information technology services provider's stock worth $282,000 after acquiring an additional 347 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Accenture in the 4th quarter worth $317,000. 75.14% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on ACN. JPMorgan Chase & Co. boosted their price target on shares of Accenture from $349.00 to $353.00 and gave the stock an "overweight" rating in a report on Monday, June 16th. Mizuho set a $348.00 target price on Accenture and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. Guggenheim decreased their price target on Accenture from $360.00 to $335.00 and set a "buy" rating for the company in a research report on Monday, June 23rd. Wall Street Zen cut Accenture from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Finally, Royal Bank Of Canada decreased their target price on Accenture from $399.00 to $392.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Seven 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $370.71.
Check Out Our Latest Analysis on ACN
Accenture Price Performance
ACN opened at $295.26 on Monday. The firm has a 50-day moving average price of $308.04 and a 200-day moving average price of $331.22. Accenture PLC has a twelve month low of $273.19 and a twelve month high of $398.35. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $184.93 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 2.89 and a beta of 1.33.
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 for the quarter, beating analysts' consensus estimates of $3.32 by $0.17. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The business had revenue of $17.73 billion during the quarter, compared to analyst estimates of $17.26 billion. During the same period in the previous year, the business earned $3.13 EPS. Accenture's revenue was up 7.7% compared to the same quarter last year. Equities analysts expect that Accenture PLC will post 12.73 EPS for the current year.
Accenture Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders 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 yield of 2.01%. The ex-dividend date of this dividend is Thursday, July 10th. Accenture's payout ratio is presently 47.13%.
Insider Activity
In related news, insider Angela Beatty sold 169 shares of the company's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $281.90, for a total transaction of $47,641.10. Following the sale, the insider now owns 5,364 shares of the company's stock, valued at approximately $1,512,111.60. This represents a 3.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Julie Spellman Sweet sold 2,284 shares of the firm's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.63, for a total transaction of $643,242.92. Following the completion of the transaction, the chief executive officer now directly owns 9,965 shares of the company's stock, valued at approximately $2,806,442.95. The trade was a 18.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,516 shares of company stock worth $2,507,366 over the last ninety days. Company insiders own 0.02% of the company's stock.
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Accenture, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Accenture wasn't on the list.
While Accenture currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
