Capital International Inc. CA lifted its stake in shares of Accenture PLC (NYSE:ACN – Free Report) by 61.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 182,454 shares of the information technology services provider’s stock after purchasing an additional 69,716 shares during the period. Capital International Inc. CA’s holdings in Accenture were worth $44,993,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of ACN. Investors Research Corp lifted its stake in shares of Accenture by 73.8% in the 3rd quarter. Investors Research Corp now owns 106 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 45 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of Accenture by 132.6% in the third quarter. Harbor Capital Advisors Inc. now owns 107 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 61 shares during the period. Davis Capital Management bought a new stake in shares of Accenture in the third quarter valued at about $28,000. Elevation Wealth Partners LLC increased its position in shares of Accenture by 146.0% in the third quarter. Elevation Wealth Partners LLC now owns 123 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 73 shares during the last quarter. Finally, Heartwood Wealth Advisors LLC acquired a new position in shares of Accenture during the 3rd quarter worth about $32,000. Institutional investors own 75.14% of the company’s stock.
Accenture Stock Performance
ACN opened at $209.18 on Tuesday. Accenture PLC has a 52-week low of $188.73 and a 52-week high of $339.90. The business’s fifty day moving average is $247.40 and its 200-day moving average is $250.32. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market cap of $128.77 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 2.07 and a beta of 1.28.
Accenture Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Tuesday, January 13th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, January 13th. Accenture’s dividend payout ratio (DPR) is presently 53.88%.
Insider Activity
In other news, General Counsel Joel Unruch sold 1,026 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $281.70, for a total value of $289,024.20. Following the completion of the transaction, the general counsel owned 27,181 shares of the company’s stock, valued at $7,656,887.70. This represents a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Melissa A. Burgum sold 3,588 shares of the stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $281.01, for a total value of $1,008,263.88. Following the sale, the chief accounting officer owned 8,179 shares of the company’s stock, valued at approximately $2,298,380.79. The trade was a 30.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 22,088 shares of company stock valued at $5,970,434. 0.02% of the stock is currently owned by insiders.
Analyst Ratings Changes
ACN has been the topic of a number of recent analyst reports. Argus decreased their target price on Accenture from $370.00 to $335.00 and set a “buy” rating on the stock in a report on Monday, December 29th. BMO Capital Markets reaffirmed a “market perform” rating and set a $300.00 price objective on shares of Accenture in a research report on Thursday, December 18th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Accenture from $280.00 to $230.00 and set a “hold” rating for the company in a research note on Friday. Wolfe Research boosted their price objective on Accenture from $300.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, December 11th. Finally, Wells Fargo & Company increased their target price on Accenture from $251.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 14th. Sixteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and an average target price of $291.69.
Read Our Latest Analysis on ACN
About Accenture
Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.
The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.
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