Institutional & Family Asset Management LLC raised its stake in shares of Accenture plc (NYSE:ACN – Get Rating) by 26.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,207 shares of the information technology services provider's stock after purchasing an additional 3,778 shares during the quarter. Institutional & Family Asset Management LLC's holdings in Accenture were worth $4,685,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Klingman & Associates LLC lifted its holdings in Accenture by 3.7% in the second quarter. Klingman & Associates LLC now owns 993 shares of the information technology services provider's stock valued at $276,000 after acquiring an additional 35 shares during the period. Bray Capital Advisors increased its position in shares of Accenture by 0.3% during the second quarter. Bray Capital Advisors now owns 11,292 shares of the information technology services provider's stock worth $3,135,000 after purchasing an additional 35 shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its position in shares of Accenture by 0.7% during the second quarter. Pinnacle Wealth Planning Services Inc. now owns 5,130 shares of the information technology services provider's stock worth $1,424,000 after purchasing an additional 35 shares in the last quarter. Cadence Bank increased its position in shares of Accenture by 0.7% during the first quarter. Cadence Bank now owns 4,999 shares of the information technology services provider's stock worth $1,686,000 after purchasing an additional 36 shares in the last quarter. Finally, Simmons Bank increased its position in shares of Accenture by 0.5% during the third quarter. Simmons Bank now owns 7,260 shares of the information technology services provider's stock worth $1,868,000 after purchasing an additional 36 shares in the last quarter. 73.97% of the stock is owned by hedge funds and other institutional investors.
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Wall Street Analyst Weigh In
Several brokerages have recently commented on ACN. Piper Sandler lowered Accenture from a "neutral" rating to an "underweight" rating and set a $268.00 price target on the stock. in a research note on Monday, December 12th. StockNews.com raised Accenture from a "hold" rating to a "buy" rating in a research note on Thursday, January 12th. Robert W. Baird decreased their target price on Accenture from $310.00 to $290.00 and set a "neutral" rating on the stock in a research note on Monday, December 19th. Cowen increased their price target on Accenture from $295.00 to $300.00 in a research report on Monday, December 19th. Finally, Jefferies Financial Group reduced their price target on Accenture from $290.00 to $279.00 in a research report on Monday, December 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $326.78.
Accenture Stock Performance
ACN stock traded up $1.81 during midday trading on Friday, hitting $276.07. 262,110 shares of the stock were exchanged, compared to its average volume of 2,202,612. The stock's 50-day moving average price is $279.97 and its 200-day moving average price is $282.07. The stock has a market cap of $173.99 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 2.53 and a beta of 1.23. Accenture plc has a fifty-two week low of $242.95 and a fifty-two week high of $360.10.
Accenture (NYSE:ACN – Get Rating) last announced its quarterly earnings data on Friday, December 16th. The information technology services provider reported $3.08 EPS for the quarter, beating analysts' consensus estimates of $2.91 by $0.17. The business had revenue of $15.75 billion during the quarter, compared to the consensus estimate of $15.58 billion. Accenture had a return on equity of 31.49% and a net margin of 11.31%. Research analysts anticipate that Accenture plc will post 11.46 EPS for the current year.
Accenture Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Tuesday, January 10th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Wednesday, January 11th. Accenture's dividend payout ratio is presently 40.69%.
Insiders Place Their Bets
In other Accenture news, CAO Melissa A. Burgum sold 1,027 shares of the company's stock in a transaction that occurred on Friday, January 13th. The stock was sold at an average price of $280.99, for a total transaction of $288,576.73. Following the sale, the chief accounting officer now owns 11,467 shares in the company, valued at $3,222,112.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, General Counsel Joel Unruch sold 556 shares of the company's stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $280.53, for a total transaction of $155,974.68. Following the completion of the transaction, the general counsel now directly owns 42,991 shares of the company's stock, valued at $12,060,265.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Melissa A. Burgum sold 1,027 shares of the company's stock in a transaction that occurred on Friday, January 13th. The stock was sold at an average price of $280.99, for a total value of $288,576.73. Following the completion of the sale, the chief accounting officer now owns 11,467 shares of the company's stock, valued at $3,222,112.33. The disclosure for this sale can be found here. Insiders have sold a total of 47,615 shares of company stock worth $13,115,191 over the last quarter. 0.08% of the stock is owned by corporate insiders.
Accenture Company Profile
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Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following geographical segments: North America, Europe and Growth Markets. The company was founded in 1989 and is headquartered in Dublin, Ireland.
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