Sprucegrove Investment Management Ltd. bought a new position in shares of Accenture PLC (NYSE:ACN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,597 shares of the information technology services provider's stock, valued at approximately $3,380,000. Accenture makes up approximately 0.4% of Sprucegrove Investment Management Ltd.'s investment portfolio, making the stock its 27th largest position.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Jaffetilchin Investment Partners LLC increased its stake in Accenture by 4.2% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 878 shares of the information technology services provider's stock worth $236,000 after buying an additional 35 shares in the last quarter. Clayton Financial Group LLC lifted its position in shares of Accenture by 13.1% in the fourth quarter. Clayton Financial Group LLC now owns 329 shares of the information technology services provider's stock valued at $88,000 after acquiring an additional 38 shares in the last quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. boosted its stake in shares of Accenture by 0.9% in the third quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 4,416 shares of the information technology services provider's stock worth $1,089,000 after acquiring an additional 41 shares during the last quarter. SkyView Investment Advisors LLC increased its position in shares of Accenture by 1.2% during the second quarter. SkyView Investment Advisors LLC now owns 3,751 shares of the information technology services provider's stock worth $1,108,000 after purchasing an additional 43 shares in the last quarter. Finally, IVC Wealth Advisors LLC raised its stake in Accenture by 5.0% in the 4th quarter. IVC Wealth Advisors LLC now owns 927 shares of the information technology services provider's stock valued at $249,000 after purchasing an additional 44 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.
Accenture Stock Down 0.6%
Shares of ACN opened at $179.10 on Wednesday. Accenture PLC has a 52-week low of $173.56 and a 52-week high of $325.71. 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 has a fifty day simple moving average of $195.74 and a two-hundred day simple moving average of $235.35. The company has a market capitalization of $119.18 billion, a PE ratio of 14.67, 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 analysts' consensus estimates of $2.84 by $0.09. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The firm had revenue of $18.04 billion during the quarter, compared to analyst estimates of $17.80 billion. During the same quarter in the prior year, the firm posted $2.82 earnings per share. Accenture's quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities analysts forecast that Accenture PLC will post 13.87 EPS for the current year.
Accenture Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 9th will be issued a dividend of $1.63 per share. The ex-dividend date is Thursday, April 9th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.6%. Accenture's dividend payout ratio (DPR) is currently 53.40%.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the stock. Berenberg Bank began coverage on shares of Accenture in a research note on Thursday, January 22nd. They set a "buy" rating and a $313.00 target price on the stock. Royal Bank Of Canada decreased their price target on shares of Accenture from $295.00 to $253.00 and set an "outperform" rating on the stock in a research note on Friday, March 20th. Guggenheim lowered their price target on shares of Accenture from $275.00 to $250.00 and set a "buy" rating on the stock in a research report on Friday, March 20th. Robert W. Baird cut their price objective on shares of Accenture from $330.00 to $265.00 and set an "outperform" rating for the company in a report on Friday, March 20th. Finally, Piper Sandler set a $282.00 target price on shares of Accenture in a research note on Thursday, March 5th. Seventeen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, Accenture has a consensus rating of "Moderate Buy" and a consensus target price of $274.50.
Read Our Latest Research Report on ACN
Insider Activity at Accenture
In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of Accenture 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 owned 12,802 shares in the company, valued at $2,267,746.28. The trade was a 27.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 company's 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 transaction, the chief executive officer directly owned 15,255 shares in the company, valued at approximately $3,679,963.65. This trade represents a 28.42% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.02% of the stock is currently owned by insiders.
About Accenture
(
Free Report)
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.
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