M&G Plc Takes $19.01 Million Position in Accenture plc (NYSE:ACN)

M&G Plc bought a new stake in Accenture plc (NYSE:ACN – Free Report) in the first quarter, according to the company’s most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 54,774 shares of the information technology services provider, valued at approximately $19,007,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Chilton Capital Management LLC increased its position in shares of Accenture by 180.0% during the 4th quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider worth $25,000 after acquiring an additional 45 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Accenture during the fourth quarter worth $27,000. Annapolis Financial Services LLC increased its stake in shares of Accenture by 507.7% during the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider worth $27,000 after purchasing an additional 66 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Accenture during the fourth quarter worth $29,000. Finally, Atwood & Palmer Inc. increased its holdings in Accenture by 214.8% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider worth $29,000 after purchasing an additional 58 shares during the period. 75.14% of the shares are currently held by hedge funds and other institutional investors.

Changes in analyst ratings

ACN has been the subject of a number of research reports. Jefferies Financial Group cut their price target on shares of Accenture from $340.00 to $275.00 and set a “hold” rating on the stock in a report on Wednesday, June 5th. Wedbush cut their price target on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, June 12th. TD Cowen cut their price target on shares of Accenture from $294.00 to $293.00 and set a “hold” rating on the stock in a report on Friday, June 21st. Barclays cut their price target on shares of Accenture from $390.00 to $350.00 and set an “overweight” rating on the company in a report on Monday, June 17th. Finally, Mizuho lowered their price target on shares of Accenture from $398.00 to $350.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $351.82.

Get our latest analysis on ACN

Insider activity

In related news, CFO Kathleen R. Mcclure sold 1,500 shares of Accenture stock in a transaction on Monday, July 15. The shares were sold for an average price of $315.00, for a total value of $472,500.00. Following the transaction, the chief financial officer now directly owns 38,570 shares of the company’s stock, valued at approximately $12,149,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed at this hyperlink. In related news, CFO Kathleen R. Mcclure sold 1,500 shares of Accenture stock in a transaction on Monday, July 15. The shares were sold for an average price of $315.00, for a total value of $472,500.00. Following the transaction, the chief financial officer now directly owns 38,570 shares of the company, valued at approximately $12,149,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, CFO Kathleen R. Mcclure sold 3,000 shares of Accenture stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the completion of the transaction, the chief financial officer now owns 40,070 shares of the company’s stock, valued at $12,390,445.40. The disclosure for this sale can be found here. Insiders have sold a total of 13,276 shares of the company’s stock worth $4,103,233 in the last 90 days. 0.07% of the shares are currently held by company insiders.

Accenture Price Performance

Shares of ACN rose $1.09 during trading hours on Friday, to $329.19. 5,376,237 shares of the company were traded, compared to its average volume of 3,941,180. The company has a market cap of $206.30 billion, a price-to-earnings ratio of 30.15, a forward price-to-earnings ratio of 3.67 and a beta of 1.23. The company’s fifty-day simple moving average is $300.80 and its two-hundred-day simple moving average is $332.09. Accenture plc has a twelve-month low of $278.69 and a twelve-month high of $387.51.

Accenture (NYSE:ACN – Get Free Report) last announced its quarterly earnings results on Thursday, June 20. The information technology services provider reported $3.13 earnings per share for the quarter, missing the consensus estimate of $3.15 by ($0.02). The company had revenue of $16.47 billion during the quarter, compared to analyst estimates of $16.55 billion. Accenture had a net margin of 10.79% and a return on equity of 27.48%. The company’s quarterly revenue was down 0.6% compared to the year-ago quarter. During the same quarter last year, the company earned $3.19 EPS. On average, equities research analysts expect Accenture plc to post 11.95 EPS for the current year.

Accenture Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th will receive a dividend of $1.29. The ex-dividend date is Thursday, July 11th. This represents an annual dividend of $5.16 and a dividend yield of 1.57%. Accenture’s dividend payout ratio (DPR) is 47.25%.

Accenture profile

(Free Report)

Accenture plc, a professional services company, provides strategy and consulting, industry X, song and technology, and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering; intelligent automation, including 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, including ready-to-use analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.

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