Ignite Planners LLC boosted its holdings in shares of Accenture PLC (NYSE:ACN – Free Report) by 35.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,160 shares of the information technology services provider’s stock after buying an additional 304 shares during the quarter. Ignite Planners LLC’s holdings in Accenture were worth $328,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the business. Navera Investment Management Ltd. grew its position in Accenture by 14.6% during the second quarter. Navera Investment Management Ltd. now owns 945,828 shares of the information technology services provider’s stock valued at $282,547,000 after buying an additional 120,763 shares during the period. Lakeshore Capital Group Inc. boosted its position in shares of Accenture by 16.9% in the second quarter. Lakeshore Capital Group Inc. now owns 2,886 shares of the information technology services provider’s stock worth $863,000 after purchasing an additional 417 shares during the period. Abel Hall LLC bought a new position in shares of Accenture in the second quarter worth approximately $213,000. Mirova US LLC boosted its position in shares of Accenture by 4.3% in the second quarter. Mirova US LLC now owns 771,235 shares of the information technology services provider’s stock worth $230,514,000 after purchasing an additional 31,950 shares during the period. Finally, REAP Financial Group LLC boosted its position in shares of Accenture by 5.4% in the second quarter. REAP Financial Group LLC now owns 1,182 shares of the information technology services provider’s stock worth $353,000 after purchasing an additional 61 shares during the period. 75.14% of the stock is currently owned by institutional investors.
Accenture Price Performance
Accenture stock opened at $253.17 on Thursday. The company has a market cap of $158.57 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 2.19 and a beta of 1.28. The firm’s fifty day moving average is $248.02 and its 200 day moving average is $282.42. The company has a quick ratio of 1.46, a current ratio of 1.42 and a debt-to-equity ratio of 0.16. Accenture PLC has a 52-week low of $229.40 and a 52-week high of $398.35.
Accenture Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 2.6%. This is a positive change from Accenture’s previous quarterly dividend of $1.48. The ex-dividend date is Friday, October 10th. Accenture’s dividend payout ratio (DPR) is presently 48.72%.
Analysts Set New Price Targets
A number of research firms have weighed in on ACN. Wall Street Zen upgraded shares of Accenture from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. UBS Group dropped their price target on shares of Accenture from $363.00 to $315.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. Barclays dropped their price target on shares of Accenture from $390.00 to $360.00 and set an “overweight” rating for the company in a research report on Monday, June 23rd. BNP Paribas Exane dropped their price target on shares of Accenture from $300.00 to $255.00 and set a “neutral” rating for the company in a research report on Wednesday, September 24th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Accenture in a report on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Accenture has an average rating of “Moderate Buy” and an average price target of $300.22.
View Our Latest Stock Analysis on Accenture
Insider Buying and Selling at Accenture
In other Accenture news, CEO Julie Spellman Sweet sold 2,251 shares of the business’s stock in a transaction on Friday, July 11th. The shares were sold at an average price of $282.45, for a total transaction of $635,794.95. Following the transaction, the chief executive officer owned 8,109 shares in the company, valued at $2,290,387.05. The trade was a 21.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mauro Macchi sold 500 shares of the business’s stock in a transaction on Friday, July 11th. The shares were sold at an average price of $282.34, for a total transaction of $141,170.00. Following the transaction, the chief executive officer owned 2,283 shares in the company, valued at $644,582.22. This trade represents a 17.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,954 shares of company stock worth $834,280 over the last quarter. Insiders own 0.02% of the company’s stock.
Accenture 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.
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