Acropolis Investment Management LLC Has $1.91 Million Stock Holdings in Accenture plc (NYSE:ACN)

Acropolis Investment Management LLC raised its stake in Accenture plc (NYSE:ACNGet Rating) by 3.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,878 shares of the information technology services provider’s stock after acquiring an additional 241 shares during the period. Acropolis Investment Management LLC’s holdings in Accenture were worth $1,910,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Accenture during the fourth quarter valued at $2,346,198,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Accenture in the first quarter worth about $918,234,000. Third Point LLC bought a new stake in shares of Accenture during the fourth quarter valued at approximately $518,188,000. Winslow Capital Management LLC purchased a new position in Accenture during the first quarter valued at $406,514,000. Finally, BlackRock Inc. raised its stake in shares of Accenture by 2.2% in the first quarter. BlackRock Inc. now owns 47,216,394 shares of the information technology services provider’s stock worth $15,922,783,000 after purchasing an additional 1,001,022 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Morgan Stanley cut their price target on Accenture from $385.00 to $350.00 and set an “overweight” rating for the company in a report on Wednesday, September 7th. Deutsche Bank Aktiengesellschaft decreased their price objective on Accenture from $364.00 to $320.00 in a research report on Friday. Jefferies Financial Group reduced their price target on Accenture from $342.00 to $310.00 and set a “hold” rating on the stock in a report on Wednesday, September 14th. Cowen dropped their price objective on Accenture from $330.00 to $325.00 and set an “outperform” rating on the stock in a research note on Friday, June 24th. Finally, BMO Capital Markets dropped their price objective on Accenture from $337.00 to $315.00 and set a “market perform” rating on the stock in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $345.80.

Accenture Price Performance

Accenture stock traded down $4.19 during mid-day trading on Friday, reaching $258.13. The company had a trading volume of 14,759 shares, compared to its average volume of 2,035,834. The stock’s 50-day simple moving average is $294.97 and its 200-day simple moving average is $299.75. The company has a market capitalization of $163.28 billion, a P/E ratio of 24.99, a P/E/G ratio of 2.24 and a beta of 1.22. Accenture plc has a 1 year low of $261.77 and a 1 year high of $417.37.

Accenture (NYSE:ACNGet Rating) last announced its earnings results on Thursday, September 22nd. The information technology services provider reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.03. The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $15.41 billion. Accenture had a net margin of 11.13% and a return on equity of 31.50%. Accenture’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.20 earnings per share. On average, equities analysts forecast that Accenture plc will post 10.69 EPS for the current fiscal year.

Accenture Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Thursday, October 13th will be issued a $1.12 dividend. This is a positive change from Accenture’s previous quarterly dividend of $0.97. This represents a $4.48 annualized dividend and a dividend yield of 1.74%. Accenture’s payout ratio is 37.63%.

Insider Activity

In related news, General Counsel Joel Unruch sold 555 shares of the business’s stock in a transaction that occurred 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 sale, the general counsel now directly owns 25,601 shares in the company, valued at approximately $7,680,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Joel Unruch sold 555 shares of the business’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 through this link. Also, CEO Julie Spellman Sweet sold 3,278 shares of the company’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $270.93, for a total transaction of $888,108.54. Following the transaction, the chief executive officer now owns 16,978 shares of the company’s stock, valued at $4,599,849.54. The disclosure for this sale can be found here. In the last three months, insiders sold 11,389 shares of company stock valued at $3,132,777. Company insiders own 0.07% of the company’s stock.

About Accenture

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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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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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