State of Alaska Department of Revenue Has $27.24 Million Holdings in Accenture PLC (NYSE:ACN)

State of Alaska Department of Revenue grew its holdings in shares of Accenture PLC (NYSE:ACN - Free Report) by 22.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 87,297 shares of the information technology services provider's stock after purchasing an additional 16,055 shares during the quarter. State of Alaska Department of Revenue's holdings in Accenture were worth $27,239,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of ACN. Vanguard Group Inc. lifted its position in shares of Accenture by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 60,394,657 shares of the information technology services provider's stock worth $21,246,236,000 after buying an additional 392,183 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Accenture by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 13,528,348 shares of the information technology services provider's stock valued at $4,750,021,000 after acquiring an additional 136,665 shares in the last quarter. Capital Research Global Investors lifted its holdings in Accenture by 16.8% in 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 purchasing an additional 1,770,024 shares during the last quarter. Wellington Management Group LLP grew its holdings in Accenture by 22.8% during the fourth quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider's stock valued at $4,283,225,000 after purchasing an additional 2,260,740 shares during the last quarter. Finally, Capital International Investors raised its position in shares of Accenture by 2.2% in the fourth quarter. Capital International Investors now owns 8,513,140 shares of the information technology services provider's stock valued at $2,994,922,000 after purchasing an additional 181,449 shares during the period. Institutional investors and hedge funds own 75.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ACN shares. Barclays dropped their target price on shares of Accenture from $415.00 to $390.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. BMO Capital Markets boosted their price objective on Accenture to $355.00 and gave the stock a "hold" rating in a research report on Wednesday, March 26th. UBS Group reaffirmed a "buy" rating and issued a $395.00 target price (up previously from $390.00) on shares of Accenture in a report on Thursday, May 22nd. Piper Sandler dropped their price target on Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Mizuho reduced their price objective on Accenture from $428.00 to $398.00 and set an "outperform" rating for the company in a research report on Wednesday, March 19th. Seven investment 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $380.00.

Accenture Price Performance

NYSE ACN traded down $5.92 on Wednesday, reaching $306.11. The company's stock had a trading volume of 4,590,591 shares, compared to its average volume of 2,960,338. The firm has a market cap of $191.72 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 3.17 and a beta of 1.33. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.17. Accenture PLC has a 52 week low of $275.01 and a 52 week high of $398.35. The business has a 50-day moving average price of $306.40 and a 200 day moving average price of $334.90.

Accenture (NYSE:ACN - Get Free Report) last issued its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.81 by $0.01. The business had revenue of $16.70 billion during the quarter, compared to analysts' expectations of $16.64 billion. Accenture had a return on equity of 26.49% and a net margin of 11.43%. Accenture's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.77 EPS. Sell-side analysts expect that Accenture PLC will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Thursday, April 10th. Accenture's payout ratio is 48.89%.

Insider Buying and Selling

In related news, CEO Julie Spellman Sweet sold 2,284 shares of the company's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.63, for a total transaction of $643,242.92. Following the transaction, the chief executive officer now owns 9,965 shares in the company, valued at $2,806,442.95. This represents a 18.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John F. Walsh sold 2,500 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $325.00, for a total transaction of $812,500.00. Following the completion of the sale, the chief operating officer now owns 15,882 shares of the company's stock, valued at $5,161,650. The trade was 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 in the last quarter. 0.02% of the stock is owned by corporate insiders.

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.