Tcwp LLC acquired a new stake in Accenture plc (NYSE:ACN – Get Rating) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,076 shares of the information technology services provider’s stock, valued at approximately $362,000.
Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in Accenture by 1.7% during the fourth quarter. BlackRock Inc. now owns 46,215,372 shares of the information technology services provider’s stock valued at $19,158,583,000 after acquiring an additional 772,476 shares during the period. State Street Corp raised its holdings in Accenture by 3.2% in the 4th quarter. State Street Corp now owns 26,117,172 shares of the information technology services provider’s stock valued at $10,826,880,000 after acquiring an additional 817,970 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Accenture by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 10,724,559 shares of the information technology services provider’s stock valued at $4,434,616,000 after purchasing an additional 290,325 shares during the period. Norges Bank acquired a new position in shares of Accenture in the fourth quarter valued at $2,346,198,000. Finally, Nuveen Asset Management LLC raised its stake in shares of Accenture by 6.1% in the 4th quarter. Nuveen Asset Management LLC now owns 5,291,047 shares of the information technology services provider’s stock valued at $2,193,403,000 after buying an additional 302,484 shares in the last quarter. 74.46% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have recently weighed in on ACN. BNP Paribas lowered Accenture from an “outperform” rating to a “neutral” rating and set a $320.00 price objective on the stock. in a research note on Wednesday, June 29th. Citigroup dropped their price target on Accenture from $400.00 to $330.00 and set a “buy” rating for the company in a report on Friday, June 24th. BMO Capital Markets assumed coverage on Accenture in a report on Friday, June 24th. They set a “hold” rating and a $337.00 target price on the stock. Morgan Stanley reduced their price target on shares of Accenture from $390.00 to $385.00 and set an “overweight” rating on the stock in a research report on Friday, June 24th. Finally, Bank of America dropped their price objective on Accenture from $443.00 to $374.00 and set a “buy” rating for the company in a report on Friday, June 17th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Accenture has a consensus rating of “Moderate Buy” and a consensus target price of $360.32.
Accenture Trading Up 0.1 %
Accenture (NYSE:ACN – Get Rating) last released its earnings results on Thursday, June 23rd. The information technology services provider reported $2.79 EPS for the quarter, missing the consensus estimate of $2.84 by ($0.05). The firm had revenue of $16.16 billion during the quarter, compared to the consensus estimate of $16.05 billion. Accenture had a net margin of 11.13% and a return on equity of 31.50%. During the same period in the prior year, the business earned $2.40 earnings per share. On average, equities research analysts forecast that Accenture plc will post 10.68 earnings per share for the current year.
Accenture Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Thursday, July 14th were issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Wednesday, July 13th. Accenture’s dividend payout ratio (DPR) is 37.63%.
Insider Buying and Selling
In related news, General Counsel Joel Unruch sold 555 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $300.00, for a total value of $166,500.00. Following the completion of the transaction, the general counsel now owns 25,601 shares in the company, valued at approximately $7,680,300. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, General Counsel Joel Unruch sold 555 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $300.00, for a total transaction of $166,500.00. Following the completion of the transaction, the general counsel now directly owns 25,601 shares in the company, valued at $7,680,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jean-Marc Ollagnier sold 6,250 shares of the business’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $270.93, for a total transaction of $1,693,312.50. Following the completion of the transaction, the insider now owns 159,630 shares in the company, valued at approximately $43,248,555.90. The disclosure for this sale can be found here. Insiders have sold 11,389 shares of company stock worth $3,132,777 in the last 90 days. Insiders own 0.07% of the company’s stock.
Accenture Company Profile
Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.
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