Tower Research Capital LLC TRC raised its holdings in Accenture plc (NYSE:ACN - Free Report) by 50.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,746 shares of the information technology services provider's stock after buying an additional 13,342 shares during the quarter. Tower Research Capital LLC TRC's holdings in Accenture were worth $13,982,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of ACN. Morse Asset Management Inc acquired a new stake in Accenture during the third quarter worth about $25,000. FPC Investment Advisory Inc. increased its position in Accenture by 62.2% during the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider's stock worth $28,000 after purchasing an additional 28 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in Accenture in the fourth quarter valued at approximately $30,000. POM Investment Strategies LLC lifted its position in 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 stake in Accenture during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 75.14% of the company's stock.
Accenture Stock Performance
Shares of NYSE:ACN traded up $4.30 on Wednesday, reaching $288.26. 2,762,320 shares of the company's stock were exchanged, compared to its average volume of 3,008,715. The business's 50-day moving average is $319.94 and its two-hundred day moving average is $348.16. 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 fifty-two week low of $275.01 and a fifty-two week high of $398.35. The firm has a market capitalization of $180.55 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 3.23 and a beta of 1.32.
Accenture (NYSE:ACN - Get Free Report) last issued its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.81 by $0.01. The firm had revenue of $16.70 billion for the quarter, compared to analysts' expectations of $16.64 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. Accenture's revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the company posted $2.77 earnings per share. As a group, equities research analysts forecast that Accenture plc will post 12.73 EPS for the current year.
Accenture Dividend Announcement
The business also recently announced 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. This represents a $5.92 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, April 10th. Accenture's payout ratio is 48.89%.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Piper Sandler decreased their price target on shares of Accenture from $364.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Mizuho decreased their target price on Accenture from $428.00 to $398.00 and set an "outperform" rating for the company in a research report on Wednesday, March 19th. Wolfe Research upgraded Accenture from a "peer perform" rating to an "outperform" rating and set a $425.00 target price on the stock in a report on Wednesday, January 8th. BMO Capital Markets upped their price target on Accenture to $355.00 and gave the stock a "hold" rating in a report on Wednesday, March 26th. Finally, Jefferies Financial Group reduced their target price on shares of Accenture from $385.00 to $355.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Eight analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Accenture currently has an average rating of "Moderate Buy" and an average target price of $377.82.
Read Our Latest Report on ACN
Insider Activity
In related news, insider Angela Beatty sold 169 shares of Accenture stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.90, for a total transaction of $47,641.10. Following the sale, the insider now directly owns 5,364 shares in the company, valued at $1,512,111.60. The trade was a 3.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John F. Walsh sold 2,500 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $361.09, for a total transaction of $902,725.00. Following the completion of the transaction, the chief operating officer now owns 19,737 shares of the company's stock, valued at $7,126,833.33. This represents a 11.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,291 shares of company stock valued at $7,880,886. 0.02% of the stock is currently owned by company insiders.
About Accenture
(
Free Report)
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.
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