Accenture plc (NYSE:ACN) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its holdings in Accenture plc (NYSE:ACN) by 28.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 259,159 shares of the information technology services provider’s stock after acquiring an additional 56,829 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Accenture were worth $90,425,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the business. Morse Asset Management Inc bought a new position in shares of Accenture during the third quarter worth about $25,000. MidAtlantic Capital Management Inc. acquired a new stake in Accenture during the third quarter valued at approximately $30,000. POM Investment Strategies LLC lifted its holdings in Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after buying an additional 34 shares during the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Accenture in the 4th quarter valued at approximately $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC raised its position in shares of Accenture by 607.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 85 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Activity

In other news, insider Angela Beatty sold 375 shares of Accenture stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the transaction, the insider now owns 5,149 shares of the company’s stock, valued at $1,845,916.50. This trade represents a 6.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Melissa A. Burgum sold 1,487 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the completion of the sale, the chief accounting officer now owns 9,247 shares of the company’s stock, valued at $3,278,431.38. This trade represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock worth $8,316,190 in the last quarter. Corporate insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. BNP Paribas downgraded shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target on the stock. in a research report on Wednesday, October 30th. UBS Group raised their target price on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. BMO Capital Markets upped their target price on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a report on Wednesday, January 8th. Finally, Robert W. Baird restated a “neutral” rating and set a $370.00 price objective on shares of Accenture in a research note on Tuesday, December 3rd. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $387.22.

Accenture Stock Down 0.3 %

ACN stock opened at $388.85 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market capitalization of $243.34 billion, a P/E ratio of 32.62, a P/E/G ratio of 3.44 and a beta of 1.24. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The business has a 50-day moving average of $363.57 and a 200-day moving average of $353.18.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.16. The company had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the business earned $3.27 EPS. On average, sell-side analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be paid a dividend of $1.48 per share. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.52%. Accenture’s dividend payout ratio is 49.66%.

Accenture Company 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.