NTV Asset Management LLC Has $1.14 Million Holdings in Accenture plc (NYSE:ACN)

NTV Asset Management LLC increased its holdings in shares of Accenture plc (NYSE:ACN) by 133.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,241 shares of the information technology services provider’s stock after acquiring an additional 1,851 shares during the quarter. NTV Asset Management LLC’s holdings in Accenture were worth $1,137,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its position in Accenture by 7.0% in the third 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 purchasing an additional 720,647 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Accenture by 34.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,374,492 shares of the information technology services provider’s stock worth $729,230,000 after buying an additional 611,376 shares during the period. Alphinity Investment Management Pty Ltd raised its stake in Accenture by 71.4% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 1,388,701 shares of the information technology services provider’s stock worth $487,309,000 after acquiring an additional 578,610 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Accenture by 33,484.1% in the 4th quarter. International Assets Investment Management LLC now owns 567,572 shares of the information technology services provider’s stock valued at $199,167,000 after purchasing an additional 565,882 shares in the last quarter. Finally, FMR LLC increased its position in shares of Accenture by 4.4% during the 3rd quarter. FMR LLC now owns 13,316,028 shares of the information technology services provider’s stock worth $4,089,485,000 after purchasing an additional 565,505 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Stock Up 1.1 %

Shares of NYSE:ACN traded up $3.37 during midday trading on Friday, reaching $303.71. 2,767,141 shares of the company were exchanged, compared to its average volume of 3,150,080. The firm has a market cap of $203.71 billion, a PE ratio of 27.53, a P/E/G ratio of 2.85 and a beta of 1.21. Accenture plc has a fifty-two week low of $261.68 and a fifty-two week high of $387.51. The stock has a fifty day simple moving average of $342.95 and a two-hundred day simple moving average of $341.73.

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

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, April 11th will be paid a $1.29 dividend. This represents a $5.16 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Wednesday, April 10th. Accenture’s dividend payout ratio (DPR) is 46.78%.

Insider Activity

In other Accenture news, CEO Manish Sharma sold 1,486 shares of Accenture stock in a transaction on Monday, February 5th. The stock was sold at an average price of $370.39, for a total value of $550,399.54. Following the completion of the transaction, the chief executive officer now directly owns 4,503 shares of the company’s stock, valued at approximately $1,667,866.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Manish Sharma sold 1,486 shares of Accenture stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $370.39, for a total value of $550,399.54. Following the transaction, the chief executive officer now directly owns 4,503 shares of the company’s stock, valued at $1,667,866.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John F. Walsh sold 8,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the completion of the transaction, the chief operating officer now directly 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. Over the last ninety days, insiders sold 31,639 shares of company stock worth $10,276,287. Corporate insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Susquehanna reaffirmed a “neutral” rating and set a $360.00 price objective (down from $400.00) on shares of Accenture in a research note on Thursday, March 21st. Bank of America lifted their price objective on Accenture from $379.00 to $419.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Stifel Nicolaus raised their target price on Accenture from $363.00 to $395.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Royal Bank of Canada increased their price objective on shares of Accenture from $374.00 to $381.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Finally, Guggenheim initiated coverage on shares of Accenture in a research note on Tuesday, March 19th. They issued a “buy” rating and a $425.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $387.00.

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.