Bamco Inc. NY Has $9.85 Million Stake in Accenture plc (NYSE:ACN)

Bamco Inc. NY grew its holdings in Accenture plc (NYSE:ACN) by 45.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,423 shares of the information technology services provider’s stock after purchasing an additional 8,910 shares during the period. Bamco Inc. NY’s holdings in Accenture were worth $9,852,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Accenture in the 4th quarter valued at approximately $2,061,490,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Accenture by 100.0% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,751,531 shares of the information technology services provider’s stock valued at $614,615,000 after buying an additional 875,723 shares in the last quarter. Winslow Capital Management LLC bought a new stake in shares of Accenture in the 4th quarter valued at approximately $288,168,000. Generation Investment Management LLP bought a new stake in shares of Accenture in the 4th quarter valued at approximately $286,220,000. Finally, Public Employees Retirement Association of Colorado bought a new stake in shares of Accenture in the 4th quarter valued at approximately $263,421,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Price Performance

Shares of NYSE ACN traded down $2.34 during trading hours on Monday, reaching $326.12. The stock had a trading volume of 672,775 shares, compared to its average volume of 2,931,228. The business’s fifty day moving average is $303.10 and its two-hundred day moving average is $331.68. The company has a market cap of $204.38 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 3.66 and a beta of 1.23. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The firm had revenue of $16.47 billion during the quarter, compared to analyst estimates of $16.55 billion. During the same quarter in the previous year, the company posted $3.19 earnings per share. The business’s revenue for the quarter was down .6% compared to the same quarter last year. Sell-side analysts forecast that Accenture plc will post 11.95 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th will be paid a dividend of $1.29 per share. The ex-dividend date is Thursday, July 11th. This represents a $5.16 annualized dividend and a yield of 1.58%. Accenture’s dividend payout ratio is currently 47.25%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ACN. Piper Sandler Companies decreased their target price on Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research report on Monday, June 17th. BMO Capital Markets decreased their target price on Accenture from $375.00 to $350.00 and set a “market perform” rating for the company in a research report on Friday, June 21st. Stifel Nicolaus decreased their target price on Accenture from $395.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday, June 12th. Mizuho decreased their target price on Accenture from $398.00 to $350.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. Finally, Wedbush decreased their target price on Accenture from $400.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, June 12th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $351.82.

Insiders Place Their Bets

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the completion of the transaction, the insider now directly owns 8,989 shares in the company, valued at $2,964,751.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the sale, the insider now owns 8,989 shares in the company, valued at $2,964,751.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 3,776 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $309.05, for a total value of $1,166,972.80. Following the sale, the chief executive officer now owns 11,819 shares in the company, valued at approximately $3,652,661.95. The disclosure for this sale can be found here. Insiders sold 21,421 shares of company stock worth $6,912,635 over the last three months. 0.07% of the stock is currently owned by corporate insiders.

Accenture Profile

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.