IndexIQ Advisors LLC raised its position in Accenture Plc (NYSE:ACN) by 28.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,951 shares of the information technology services provider’s stock after buying an additional 5,351 shares during the period. IndexIQ Advisors LLC’s holdings in Accenture were worth $5,043,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Signaturefd LLC lifted its holdings in Accenture by 3.8% in the 4th quarter. Signaturefd LLC now owns 7,357 shares of the information technology services provider’s stock valued at $1,549,000 after purchasing an additional 270 shares in the last quarter. Samalin Investment Counsel LLC acquired a new position in Accenture during the fourth quarter worth about $125,000. American International Group Inc. boosted its position in Accenture by 1.5% during the fourth quarter. American International Group Inc. now owns 208,347 shares of the information technology services provider’s stock worth $43,872,000 after acquiring an additional 3,122 shares during the last quarter. Private Ocean LLC grew its stake in Accenture by 66.2% during the 4th quarter. Private Ocean LLC now owns 565 shares of the information technology services provider’s stock valued at $119,000 after acquiring an additional 225 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Accenture in the 4th quarter valued at about $218,000. Institutional investors own 73.78% of the company’s stock.
In related news, CFO Kathleen R. Mcclure sold 1,435 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $209.31, for a total transaction of $300,359.85. Following the completion of the sale, the chief financial officer now directly owns 26,792 shares of the company’s stock, valued at $5,607,833.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John F. Walsh sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $209.21, for a total transaction of $1,255,260.00. Following the sale, the insider now directly owns 26,344 shares of the company’s stock, valued at $5,511,428.24. The disclosure for this sale can be found here. Insiders have sold 29,254 shares of company stock valued at $6,151,795 over the last quarter. Corporate insiders own 0.10% of the company’s stock.
Several research analysts have recently weighed in on ACN shares. Wells Fargo & Co boosted their target price on Accenture from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, January 9th. Bank of America cut Accenture from a “neutral” rating to an “underperform” rating and set a $205.00 price target for the company. in a report on Tuesday, January 7th. They noted that the move was a valuation call. Moffett Nathanson downgraded Accenture from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. boosted their price objective on Accenture from $216.00 to $227.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Citigroup upped their target price on Accenture from $211.00 to $230.00 and gave the company a “buy” rating in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $214.82.
Accenture stock opened at $211.68 on Thursday. Accenture Plc has a twelve month low of $156.74 and a twelve month high of $214.46. The stock’s fifty day simple moving average is $209.38 and its 200-day simple moving average is $197.86. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $135.11 billion, a P/E ratio of 28.26, a P/E/G ratio of 2.63 and a beta of 1.03.
Accenture (NYSE:ACN) last released its earnings results on Thursday, December 19th. The information technology services provider reported $2.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.99 by $0.10. The firm had revenue of $11.36 billion during the quarter, compared to analyst estimates of $11.15 billion. Accenture had a return on equity of 33.35% and a net margin of 11.06%. Accenture’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business posted $1.96 earnings per share. Sell-side analysts predict that Accenture Plc will post 7.82 earnings per share for the current year.
The business also recently announced a semi-annual dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a dividend yield of 1.5%. Accenture’s payout ratio is presently 43.48%.
Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.
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