Gladstone Institutional Advisory LLC Lowers Position in Accenture plc (NYSE:ACN)

Gladstone Institutional Advisory LLC reduced its position in shares of Accenture plc (NYSE:ACNFree Report) by 0.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,496 shares of the information technology services provider’s stock after selling 44 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Accenture were worth $5,087,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Accenture by 0.3% during the third quarter. Vanguard Group Inc. now owns 58,434,025 shares of the information technology services provider’s stock worth $17,945,673,000 after acquiring an additional 184,541 shares during the period. FMR LLC grew its stake in shares of Accenture by 4.4% during the 3rd quarter. FMR LLC now owns 13,316,028 shares of the information technology services provider’s stock worth $4,089,485,000 after purchasing an additional 565,505 shares during the period. Wellington Management Group LLP increased its holdings in shares of Accenture by 7.0% in the 3rd quarter. Wellington Management Group LLP now owns 11,034,666 shares of the information technology services provider’s stock valued at $3,388,856,000 after purchasing an additional 720,647 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Accenture by 5.6% in 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 period. Finally, Norges Bank purchased a new stake in Accenture during the fourth quarter worth about $2,061,490,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analysts Set New Price Targets

ACN has been the subject of a number of research reports. Bank of America lifted their price target on shares of Accenture from $379.00 to $419.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Stifel Nicolaus upped their target price on Accenture from $363.00 to $395.00 and gave the company a “buy” rating in a report on Monday, March 18th. Susquehanna reaffirmed a “neutral” rating and set a $360.00 price target (down previously from $400.00) on shares of Accenture in a research note on Thursday, March 21st. Royal Bank of Canada increased their price objective on shares of Accenture from $374.00 to $381.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Finally, Redburn Atlantic upped their price target on shares of Accenture from $410.00 to $445.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $381.67.

View Our Latest Stock Analysis on ACN

Accenture Stock Down 1.4 %

Shares of ACN traded down $4.41 during mid-day trading on Friday, hitting $303.59. The company had a trading volume of 4,232,001 shares, compared to its average volume of 2,973,109. Accenture plc has a 1-year low of $284.26 and a 1-year high of $387.51. The business’s 50-day simple moving average is $328.56 and its 200-day simple moving average is $343.08. The stock has a market cap of $203.63 billion, a PE ratio of 27.52, a P/E/G ratio of 2.88 and a beta of 1.21.

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

Accenture Dividend Announcement

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

Insider Activity

In related news, COO John F. Walsh sold 8,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the completion of the sale, the chief operating officer now directly owns 17,877 shares of the company’s stock, valued at approximately $5,937,488.01. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Kathleen R. Mcclure sold 4,500 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $316.00, for a total transaction of $1,422,000.00. Following the completion of the transaction, the chief financial officer now directly owns 42,781 shares in the company, valued at approximately $13,518,796. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO John F. Walsh sold 8,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the completion of the sale, the chief operating officer now directly owns 17,877 shares in the company, valued at $5,937,488.01. 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. Company insiders own 0.07% of the company’s stock.

Accenture 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.

Read More

Want to see what other hedge funds are holding ACN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Accenture plc (NYSE:ACNFree Report).

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

Receive News & Ratings for Accenture Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture and related companies with MarketBeat.com's FREE daily email newsletter.