MU Investments Co. Ltd. lessened its position in Accenture plc (NYSE:ACN – Get Rating) by 5.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,560 shares of the information technology services provider’s stock after selling 520 shares during the period. Accenture comprises 3.6% of MU Investments Co. Ltd.’s portfolio, making the stock its 19th largest holding. MU Investments Co. Ltd.’s holdings in Accenture were worth $2,675,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Accenture by 0.8% during the first quarter. Vanguard Group Inc. now owns 56,646,379 shares of the information technology services provider’s stock worth $19,102,859,000 after purchasing an additional 443,821 shares during the last quarter. BlackRock Inc. raised its position in Accenture by 2.2% in the first quarter. BlackRock Inc. now owns 47,216,394 shares of the information technology services provider’s stock valued at $15,922,783,000 after purchasing an additional 1,001,022 shares during the period. State Street Corp raised its position in Accenture by 2.2% in the first quarter. State Street Corp now owns 26,688,036 shares of the information technology services provider’s stock valued at $9,000,013,000 after purchasing an additional 570,864 shares during the period. Norges Bank purchased a new position in Accenture in the fourth quarter valued at about $2,346,198,000. Finally, Nuveen Asset Management LLC increased its position in shares of Accenture by 6.1% during the fourth quarter. Nuveen Asset Management LLC now owns 5,291,047 shares of the information technology services provider’s stock worth $2,193,403,000 after acquiring an additional 302,484 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on ACN. Cowen dropped their target price on Accenture from $330.00 to $325.00 and set an “outperform” rating on the stock in a research report on Friday, June 24th. Jefferies Financial Group dropped their target price on Accenture from $342.00 to $310.00 and set a “hold” rating on the stock in a research report on Wednesday, September 14th. Royal Bank of Canada decreased their price target on Accenture from $435.00 to $357.00 and set an “outperform” rating for the company in a research note on Friday, June 24th. Exane BNP Paribas downgraded Accenture from an “outperform” rating to a “neutral” rating in a research note on Wednesday, June 29th. Finally, Cowen decreased their price target on Accenture from $330.00 to $325.00 and set an “outperform” rating for the company in a research note on Friday, June 24th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Accenture presently has a consensus rating of “Moderate Buy” and an average target price of $355.63.
Accenture Stock Performance
Accenture (NYSE:ACN – Get Rating) last posted its quarterly earnings results on Thursday, June 23rd. The information technology services provider reported $2.79 EPS for the quarter, missing the consensus estimate of $2.84 by ($0.05). Accenture had a net margin of 11.13% and a return on equity of 31.50%. The company had revenue of $16.16 billion for the quarter, compared to analysts’ expectations of $16.05 billion. During the same quarter in the prior year, the firm earned $2.40 earnings per share. On average, research analysts forecast that Accenture plc will post 10.69 EPS for the current fiscal year.
Accenture Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Thursday, July 14th were issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Wednesday, July 13th. Accenture’s dividend payout ratio is currently 37.63%.
Insider Buying and Selling
In related news, General Counsel Joel Unruch sold 555 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $300.00, for a total value of $166,500.00. Following the completion of the sale, the general counsel now directly owns 25,601 shares in the company, valued at $7,680,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Joel Unruch sold 555 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $300.00, for a total transaction of $166,500.00. Following the completion of the transaction, the general counsel now owns 25,601 shares of the company’s stock, valued at $7,680,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ellyn Shook sold 750 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $300.00, for a total transaction of $225,000.00. Following the transaction, the insider now directly owns 21,400 shares of the company’s stock, valued at approximately $6,420,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,389 shares of company stock worth $3,132,777. Corporate insiders own 0.07% of the company’s stock.
Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.
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