Foster Dykema Cabot & Co. Inc. MA decreased its holdings in shares of Accenture plc (NYSE:ACN – Get Rating) by 0.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,470 shares of the information technology services provider's stock after selling 181 shares during the quarter. Accenture makes up 2.0% of Foster Dykema Cabot & Co. Inc. MA's holdings, making the stock its 17th biggest position. Foster Dykema Cabot & Co. Inc. MA's holdings in Accenture were worth $16,234,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in ACN. Norges Bank acquired a new stake in shares of Accenture during the fourth quarter worth $2,346,198,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Accenture in the first quarter worth $918,234,000. Third Point LLC bought a new position in shares of Accenture in the fourth quarter worth $518,188,000. Winslow Capital Management LLC bought a new position in shares of Accenture in the first quarter worth $406,514,000. Finally, BlackRock Inc. increased its position in shares of Accenture by 2.2% in the first quarter. BlackRock Inc. now owns 47,216,394 shares of the information technology services provider's stock worth $15,922,783,000 after purchasing an additional 1,001,022 shares during the period. Institutional investors and hedge funds own 73.73% of the company's stock.
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Accenture Trading Down 0.9 %
ACN stock traded down $2.34 during trading on Friday, hitting $259.98. The company had a trading volume of 3,100,118 shares, compared to its average volume of 2,122,838. The business has a 50-day moving average of $294.74 and a 200-day moving average of $299.44. Accenture plc has a one year low of $256.20 and a one year high of $417.37. The stock has a market cap of $164.45 billion, a PE ratio of 24.27, a PEG ratio of 2.35 and a beta of 1.22.
Accenture (NYSE:ACN – Get Rating) last announced its earnings results on Thursday, September 22nd. The information technology services provider reported $2.60 EPS for the quarter, beating the consensus estimate of $2.57 by $0.03. Accenture had a return on equity of 31.68% and a net
margin of 11.17%. The business had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $15.41 billion. During the same period in the prior year, the business posted $2.20 earnings per share. The firm's revenue was up 14.9% on a year-over-year basis. Research analysts forecast that Accenture plc will post 11.17 EPS for the current year.
Accenture Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Thursday, October 13th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This is a positive change from Accenture's previous quarterly dividend of $0.97. This represents a $4.48 annualized dividend and a yield of 1.72%. Accenture's payout ratio is 36.23%.
Insider Buying and Selling at Accenture
In other Accenture news, insider Jean-Marc Ollagnier sold 6,250 shares of the business's stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $270.93, for a total value of $1,693,312.50. Following the transaction, the insider now directly owns 159,630 shares of the company's stock, valued at $43,248,555.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Accenture news, insider Jean-Marc Ollagnier sold 6,250 shares of the business's stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $270.93, for a total value of $1,693,312.50. Following the transaction, the insider now directly owns 159,630 shares of the company's stock, valued at $43,248,555.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Julie Spellman Sweet sold 3,278 shares of the company's stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $270.93, for a total value of $888,108.54. Following the transaction, the chief executive officer now directly owns 16,978 shares in the company, valued at $4,599,849.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,389 shares of company stock valued at $3,132,777. 0.07% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of brokerages recently commented on ACN. Morgan Stanley decreased their price target on Accenture from $350.00 to $340.00 and set an "overweight" rating on the stock in a research report on Friday. Susquehanna Bancshares decreased their price target on Accenture from $460.00 to $360.00 in a research report on Friday. Cowen decreased their target price on Accenture from $325.00 to $295.00 in a research report on Friday. Susquehanna decreased their target price on Accenture from $460.00 to $360.00 in a research report on Friday. Finally, BNP Paribas cut Accenture from an "outperform" rating to a "neutral" rating and set a $320.00 target price on the stock. in a research report on Wednesday, June 29th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Accenture has an average rating of "Moderate Buy" and an average target price of $343.80.
Accenture Profile
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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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