Texas Bank & Trust Co bought a new stake in Accenture plc (NYSE:ACN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 8,146 shares of the information technology services provider's stock, valued at approximately $2,866,000. Accenture makes up 1.2% of Texas Bank & Trust Co's investment portfolio, making the stock its 25th biggest holding.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Accenture by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 60,394,657 shares of the information technology services provider's stock valued at $21,246,236,000 after purchasing an additional 392,183 shares in the last quarter. Geode Capital Management LLC lifted its stake in 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 purchasing an additional 136,665 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Accenture by 16.8% during the fourth 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 buying an additional 1,770,024 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of 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 worth $4,283,225,000 after buying an additional 2,260,740 shares in the last quarter. Finally, Capital International Investors lifted its stake in shares of Accenture by 2.2% in the 4th 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 acquiring an additional 181,449 shares during the last quarter. Institutional investors own 75.14% of the company's stock.
Insider Buying and Selling
In related news, CEO Julie Spellman Sweet sold 2,284 shares of the company's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $281.63, for a total transaction of $643,242.92. Following the completion of the sale, the chief executive officer now owns 9,965 shares in the company, valued at approximately $2,806,442.95. This represents a 18.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO John F. Walsh sold 2,500 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $325.00, for a total value of $812,500.00. Following the transaction, the chief operating officer now owns 15,882 shares in the company, valued at approximately $5,161,650. This trade represents a 13.60% 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 in the last ninety days. Corporate insiders own 0.02% of the company's stock.
Accenture Stock Down 1.8%
Shares of NYSE ACN opened at $317.45 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market cap of $198.83 billion, a PE ratio of 26.63, a P/E/G ratio of 3.23 and a beta of 1.35. The company's fifty day simple moving average is $302.60 and its 200 day simple moving average is $341.18. Accenture plc has a 12-month low of $275.01 and a 12-month high of $398.35.
Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.01. The firm had revenue of $16.70 billion for the quarter, compared to analyst estimates of $16.64 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.77 earnings per share. As a group, sell-side analysts forecast that Accenture plc will post 12.73 earnings per share for the current fiscal 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 given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Thursday, April 10th. Accenture's payout ratio is 48.89%.
Analyst Upgrades and Downgrades
ACN has been the subject of a number of recent research reports. Baird R W raised Accenture from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Morgan Stanley dropped their price objective on shares of Accenture from $380.00 to $372.00 and set an "equal weight" rating for the company in a report on Monday, March 17th. Barclays reduced 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 raised their price target on shares of Accenture to $355.00 and gave the company a "hold" rating in a research note on Wednesday, March 26th. Finally, StockNews.com cut shares of Accenture from a "buy" rating to a "hold" rating in a research note on Tuesday, March 11th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Accenture currently has an average rating of "Moderate Buy" and a consensus price target of $381.76.
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About Accenture
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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.
Further Reading
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