Accenture plc (NYSE:ACN) Stock Holdings Decreased by Cornerstone Advisors LLC

Cornerstone Advisors LLC lessened its position in Accenture plc (NYSE:ACNFree Report) by 4.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,800 shares of the information technology services provider’s stock after selling 1,200 shares during the quarter. Cornerstone Advisors LLC’s holdings in Accenture were worth $9,755,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ACN. Vanguard Group Inc. increased its stake in Accenture by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 58,434,025 shares of the information technology services provider’s stock valued at $17,945,673,000 after buying an additional 184,541 shares during the period. FMR LLC increased its stake in shares of Accenture by 4.4% in the third quarter. FMR LLC now owns 13,316,028 shares of the information technology services provider’s stock worth $4,089,485,000 after acquiring an additional 565,505 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Accenture by 7.0% during the third quarter. Wellington Management Group LLP now owns 11,034,666 shares of the information technology services provider’s stock worth $3,388,856,000 after acquiring an additional 720,647 shares in the last quarter. Northern Trust Corp boosted its position in Accenture by 5.6% during the third quarter. Northern Trust Corp now owns 8,285,864 shares of the information technology services provider’s stock valued at $2,544,672,000 after purchasing an additional 443,004 shares during the last quarter. Finally, Norges Bank acquired a new position in Accenture in the 4th quarter worth about $2,061,490,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. BMO Capital Markets lowered their price target on Accenture from $385.00 to $375.00 and set a “market perform” rating for the company in a research note on Friday, March 22nd. Redburn Atlantic boosted their target price on shares of Accenture from $410.00 to $445.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Guggenheim initiated coverage on shares of Accenture in a report on Tuesday, March 19th. They set a “buy” rating and a $425.00 price target on the stock. Robert W. Baird decreased their price objective on shares of Accenture from $372.00 to $345.00 and set a “neutral” rating for the company in a report on Thursday. Finally, StockNews.com lowered Accenture from a “buy” rating to a “hold” rating in a report on Saturday, April 27th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $381.67.

Read Our Latest Stock Analysis on Accenture

Accenture Stock Down 1.4 %

Accenture stock traded down $4.41 during mid-day trading on Friday, reaching $303.59. The company had a trading volume of 4,232,001 shares, compared to its average volume of 2,973,109. The company has a 50 day moving average of $328.56 and a 200-day moving average of $343.08. Accenture plc has a 52 week low of $284.26 and a 52 week high of $387.51. The firm has a market cap of $203.63 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 2.88 and a beta of 1.21.

Accenture (NYSE:ACNGet Free Report) last released its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.11. The business had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.85 billion. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the business earned $2.69 earnings per share. On average, analysts predict that Accenture plc will post 12.09 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, April 11th were given a $1.29 dividend. The ex-dividend date of this dividend was Wednesday, April 10th. This represents a $5.16 annualized dividend and a yield of 1.70%. Accenture’s dividend payout ratio (DPR) is currently 46.78%.

Insiders Place Their Bets

In related news, CFO Kathleen R. Mcclure sold 4,500 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $316.00, for a total value of $1,422,000.00. Following the completion of the transaction, the chief financial officer now owns 42,781 shares of the company’s stock, valued at $13,518,796. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $307.22, for a total value of $1,536,100.00. Following the sale, the insider now owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kathleen R. Mcclure sold 4,500 shares of Accenture stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $316.00, for a total transaction of $1,422,000.00. Following the transaction, the chief financial officer now directly owns 42,781 shares of the company’s stock, valued at $13,518,796. The disclosure for this sale can be found here. Insiders have sold 28,083 shares of company stock worth $8,959,325 over the last 90 days. Corporate insiders own 0.07% of the company’s stock.

Accenture Company Profile

(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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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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