JARISLOWSKY FRASER Ltd Has $174.73 Million Stock Position in Accenture plc (NYSE:ACN)

JARISLOWSKY FRASER Ltd trimmed its position in Accenture plc (NYSE:ACNFree Report) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 497,940 shares of the information technology services provider’s stock after selling 2,259 shares during the quarter. JARISLOWSKY FRASER Ltd owned approximately 0.08% of Accenture worth $174,732,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Accenture in the 4th quarter valued at approximately $2,061,490,000. Wellington Management Group LLP lifted its stake in Accenture by 7.0% in the 3rd quarter. Wellington Management Group LLP now owns 11,034,666 shares of the information technology services provider’s stock valued at $3,388,856,000 after acquiring an additional 720,647 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Accenture by 34.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 2,374,492 shares of the information technology services provider’s stock valued at $729,230,000 after acquiring an additional 611,376 shares in the last quarter. Alphinity Investment Management Pty Ltd lifted its stake in Accenture by 71.4% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 1,388,701 shares of the information technology services provider’s stock valued at $487,309,000 after acquiring an additional 578,610 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in 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 acquiring an additional 565,882 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ACN shares. Mizuho reaffirmed a “buy” rating and issued a $398.00 price objective (down from $426.00) on shares of Accenture in a report on Friday, March 22nd. Royal Bank of Canada increased their target price on Accenture from $374.00 to $381.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft lowered Accenture from a “buy” rating to a “hold” rating and reduced their target price for the stock from $409.00 to $295.00 in a report on Wednesday, May 15th. Guggenheim reissued a “buy” rating and set a $395.00 target price on shares of Accenture in a report on Friday. Finally, Robert W. Baird reduced their target price on Accenture from $372.00 to $345.00 and set a “neutral” rating on the stock in a report on Thursday, May 16th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Accenture presently has a consensus rating of “Moderate Buy” and a consensus price target of $380.24.

Check Out Our Latest Analysis on Accenture

Accenture Stock Down 1.6 %

Accenture stock traded down $4.94 during trading hours on Monday, hitting $300.99. The stock had a trading volume of 2,048,600 shares, compared to its average volume of 2,507,757. The stock has a market cap of $201.89 billion, a price-to-earnings ratio of 27.29, a P/E/G ratio of 3.27 and a beta of 1.21. Accenture plc has a one year low of $285.18 and a one year high of $387.51. The business’s 50 day simple moving average is $321.32 and its 200-day simple moving average is $342.77.

Accenture (NYSE:ACNGet Free Report) last issued its quarterly earnings data on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.11. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The company had revenue of $15.80 billion during 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. Research analysts anticipate that Accenture plc will post 12.09 EPS for the current fiscal year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders 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 dividend yield of 1.71%. Accenture’s dividend payout ratio is presently 46.78%.

Insider Activity

In related news, COO John F. Walsh sold 8,000 shares of Accenture stock in a transaction on 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 sale, the chief operating officer now directly owns 17,877 shares in the company, valued at $5,937,488.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Accenture news, COO John F. Walsh sold 8,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $332.13, for a total value of $2,657,040.00. Following the sale, the chief operating officer now directly owns 17,877 shares in the company, valued at $5,937,488.01. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jean-Marc Ollagnier sold 6,250 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $315.91, for a total value of $1,974,437.50. Following the completion of the sale, the chief executive officer now owns 161,581 shares in the company, valued at $51,045,053.71. The disclosure for this sale can be found here. Insiders have sold 28,083 shares of company stock worth $8,959,325 over the last 90 days. 0.07% of the stock is currently owned by corporate insiders.

Accenture Profile

(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.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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