Professional Advisory Services Inc. trimmed its holdings in Accenture plc (NYSE: ACN – Get Rating) by 6.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,749 shares of the information technology services provider’s stock after selling 3,703 shares during the period. Accenture accounts for about 2.5% of Professional Advisory Services Inc.’s holdings, making the stock its 25th biggest holding. Professional Advisory Services Inc.’s holdings in Accenture were worth $ 17,451,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Equitable Holdings Inc. grew its holdings in shares of Accenture by 24.7% in the fourth quarter. Equitable Holdings Inc. now owns 1,334 shares of the information technology services provider’s stock valued at $ 553,000 after purchasing an additional 264 shares during the period. FDx Advisors Inc. boosted its stake in shares of Accenture by 6.3% in the fourth quarter. FDx Advisors Inc. now owns 169,310 shares of the information technology services provider’s stock valued at $ 70,188,000 after purchasing an additional 10,044 shares during the period. SkyView Investment Advisors LLC raised its holdings in Accenture by 697.5% in the fourth quarter. SkyView Investment Advisors LLC now owns 25,032 shares of the information technology services provider’s stock valued at $ 797,000 after acquiring an additional 21,893 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in Accenture by 4.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 48,675 shares of the information technology services provider’s stock valued at $ 20,178,000 after acquiring an additional 2,054 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Accenture by 4.9% during the fourth quarter. Van ECK Associates Corp now owns 85,404 shares of the information technology services provider’s stock worth $ 35,404,000 after purchasing an additional 3,973 shares in the last quarter. Institutional investors and hedge funds own 74.46% of the company stock.
Shares of Accenture stock opened at $ 299.37 on Monday. The stock’s 50-day moving average is $ 294.55 and its 200 day moving average is $ 328.94. Accenture plc has a one year low of $ 268.17 and a one year high of $ 417.37. The firm has a market cap of $ 189.77 billion, a price-to-earnings ratio of 29.04, a PEG ratio of 2.80 and a beta of 1.24.
Accenture (NYSE: ACN – Get Rating) last released its earnings results on Thursday, June 23rd. The information technology services provider reported $ 2.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $ 2.84 by ($ 0.05). Accenture had a return on equity of 31.50% and a net margin of 11.13%. During the same period in the previous year, the company earned $ 2.40 earnings per share. On average, analysts predict that Accenture plc will post 10.68 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Thursday, July 14th will be given a dividend of $ 0.97 per share. This represents a $ 3.88 annualized dividend and a yield of 1.30%. The ex-dividend date is Wednesday, July 13th. Accenture’s dividend payout ratio is currently 37.63%.
A number of equities analysts have commented on the stock. Piper Sandler cut their price objective on shares of Accenture from $ 368.00 to $ 305.00 and set a “neutral” rating for the company in a research report on Friday. StockNews.com assumed coverage on shares of Accenture in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Royal Bank of Canada dropped their target price on Accenture from $ 435.00 to $ 357.00 and set an “outperform” rating for the company in a research note on Friday. Robert W. Baird dropped their price target on Accenture from $ 340.00 to $ 310.00 and set a “neutral” rating for the company in a research note on Friday. Finally, BMO Capital Markets assumed coverage on Accenture in a research note on Friday. They issued a “hold” rating and a $ 337.00 target price for the company. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $ 360.03.
In other Accenture news, insider Ellyn Shook sold 750 shares of Accenture stock in a transaction that occurred on Monday, April 25th. The shares were sold at an average price of $ 310.55, for a total transaction of $ 232,912.50. Following the transaction, the insider now owns 21,846 shares of the company stock, valued at $ 6,784,275.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 3,287 shares of the stock in a transaction on Monday, April 18th. The stock was sold at an average price of $ 315.22, for a total transaction of $ 1,036,128.14. Following the completion of the sale, the chief executive officer now directly owns 19,836 shares of the company stock, valued at $ 6,252,703.92. The disclosure for this sale can be found here. Insiders have sold 10,757 shares of company stock valued at $ 3,386,681 in the last quarter. 0.07% of the stock is owned by company insiders.
About Accenture: (Get Rating)
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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