Platform Technology Partners Has $733,000 Stock Holdings in Accenture plc (NYSE:ACN)

Platform Technology Partners increased its stake in Accenture plc (NYSE:ACNFree Report) by 7.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,996 shares of the information technology services provider’s stock after purchasing an additional 131 shares during the period. Platform Technology Partners’ holdings in Accenture were worth $733,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Accenture by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 58,434,025 shares of the information technology services provider’s stock worth $17,945,673,000 after purchasing an additional 184,541 shares during the last quarter. FMR LLC grew its stake in shares of Accenture by 4.4% in the third quarter. FMR LLC now owns 13,316,028 shares of the information technology services provider’s stock valued at $4,089,485,000 after buying an additional 565,505 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Accenture by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 11,034,666 shares of the information technology services provider’s stock worth $3,388,856,000 after buying an additional 720,647 shares during the period. Capital Research Global Investors raised its holdings in Accenture by 1.9% in the 4th quarter. Capital Research Global Investors now owns 8,479,430 shares of the information technology services provider’s stock valued at $2,975,517,000 after acquiring an additional 159,696 shares during the period. Finally, Northern Trust Corp lifted its position in Accenture by 5.6% during the third quarter. Northern Trust Corp now owns 8,285,864 shares of the information technology services provider’s stock worth $2,544,672,000 after acquiring an additional 443,004 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Stock Performance

Shares of NYSE ACN traded down $3.34 during midday trading on Friday, hitting $288.40. 2,626,878 shares of the company traded hands, compared to its average volume of 2,620,646. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51. The stock has a 50-day moving average price of $310.15 and a 200 day moving average price of $340.51. The firm has a market cap of $193.44 billion, a P/E ratio of 26.15, a P/E/G ratio of 3.16 and a beta of 1.21.

Accenture (NYSE:ACNGet Free Report) last posted its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.11. The business had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.85 billion. Accenture had a net margin of 10.89% and a return on equity of 28.30%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.69 EPS. As a group, equities analysts expect that Accenture plc will post 12.09 earnings per share for the current year.

Accenture Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Thursday, April 11th were issued a $1.29 dividend. The ex-dividend date was Wednesday, April 10th. This represents a $5.16 dividend on an annualized basis and a yield of 1.79%. Accenture’s dividend payout ratio is currently 46.78%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Jefferies Financial Group reduced their price target on Accenture from $340.00 to $275.00 and set a “hold” rating for the company in a research note on Wednesday. Bank of America dropped their target price on shares of Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft cut Accenture from a “buy” rating to a “hold” rating and decreased their target price for the company from $409.00 to $295.00 in a research report on Wednesday, May 15th. Robert W. Baird decreased their price target on shares of Accenture from $372.00 to $345.00 and set a “neutral” rating for the company in a research report on Thursday, May 16th. Finally, Stifel Nicolaus upped their price target on Accenture from $363.00 to $395.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $373.00.

Check Out Our Latest Research Report on ACN

Insider Buying and Selling at Accenture

In other news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total value of $1,536,100.00. Following the completion of the sale, the insider now directly owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the transaction, the insider now owns 13,699 shares in the company, valued at $4,208,606.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO John F. Walsh sold 8,000 shares of the business’s stock in a transaction dated 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 owns 17,877 shares of the company’s stock, valued at approximately $5,937,488.01. The disclosure for this sale can be found here. Insiders sold 28,083 shares of company stock valued at $8,959,325 in the last 90 days. Insiders own 0.07% of the company’s stock.

About Accenture

(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.

Further Reading

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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