Federated Hermes Inc. Has $13.63 Million Position in Accenture plc (NYSE:ACN)

Federated Hermes Inc. trimmed its stake in shares of Accenture plc (NYSE:ACN - Free Report) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,733 shares of the information technology services provider's stock after selling 934 shares during the quarter. Federated Hermes Inc.'s holdings in Accenture were worth $13,626,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Morse Asset Management Inc acquired a new stake in shares of Accenture in the third quarter valued at $25,000. FPC Investment Advisory Inc. boosted its holdings in Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider's stock worth $28,000 after buying an additional 28 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in Accenture in the 4th quarter worth about $30,000. POM Investment Strategies LLC grew its holdings in shares of Accenture by 64.2% during the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider's stock valued at $31,000 after buying an additional 34 shares in the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new position in Accenture in the fourth quarter valued at about $34,000. 75.14% of the stock is currently owned by institutional investors.

Accenture Trading Down 0.3 %

NYSE ACN traded down $0.97 during trading hours on Tuesday, hitting $288.82. The company's stock had a trading volume of 1,203,994 shares, compared to its average volume of 3,000,526. The firm has a market capitalization of $180.90 billion, a P/E ratio of 24.21, a PEG ratio of 3.23 and a beta of 1.32. The stock has a fifty day moving average of $334.44 and a 200 day moving average of $351.59. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a twelve month low of $275.01 and a twelve month high of $398.35.

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Accenture (NYSE:ACN - Get Free Report) last announced its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, topping the consensus estimate of $2.81 by $0.01. The firm had revenue of $16.70 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company posted $2.77 EPS. Equities research analysts forecast that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $5.92 annualized dividend and a yield of 2.05%. Accenture's payout ratio is currently 48.89%.

Analyst Ratings Changes

ACN has been the topic of a number of research reports. Guggenheim dropped their price objective on Accenture from $400.00 to $395.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Stifel Nicolaus reduced their target price on Accenture from $390.00 to $380.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Robert W. Baird raised Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 price objective for the company in a research report on Monday, March 17th. StockNews.com downgraded shares of Accenture from a "buy" rating to a "hold" rating in a report on Tuesday, March 11th. Finally, Piper Sandler lowered their price target on Accenture from $396.00 to $364.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. Eight 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $378.23.

Insider Activity at Accenture

In other Accenture news, CFO Angie Y. Park sold 685 shares of Accenture stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the completion of the transaction, the chief financial officer now directly owns 8,674 shares of the company's stock, valued at $3,073,892.12. The trade was a 7.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Julie Spellman Sweet sold 2,284 shares of the business's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.63, for a total value of $643,242.92. Following the sale, the chief executive officer now owns 9,965 shares of the company's stock, valued at approximately $2,806,442.95. This represents a 18.65 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,921 shares of company stock valued at $9,876,619. Insiders own 0.02% of the company's stock.

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.