NN Investment Partners Holdings N.V. raised its stake in Accenture plc (NYSE:ACN) by 6.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 307,781 shares of the information technology services provider’s stock after purchasing an additional 17,921 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in Accenture were worth $85,025,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Accenture during the fourth quarter valued at approximately $1,577,735,000. Nuveen Asset Management LLC grew its holdings in Accenture by 17.8% during the fourth quarter. Nuveen Asset Management LLC now owns 5,240,801 shares of the information technology services provider’s stock valued at $1,368,949,000 after purchasing an additional 791,761 shares during the period. BlackRock Inc. grew its holdings in Accenture by 1.1% during the fourth quarter. BlackRock Inc. now owns 46,169,055 shares of the information technology services provider’s stock valued at $12,059,818,000 after purchasing an additional 496,867 shares during the period. Lazard Freres Gestion S.A.S. bought a new position in Accenture during the fourth quarter valued at $126,101,000. Finally, Wilkinson Global Asset Management LLC bought a new position in shares of Accenture in the first quarter worth $86,613,000. 70.99% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have weighed in on ACN. Royal Bank of Canada raised their price target on Accenture from $278.00 to $301.00 in a research report on Friday, March 19th. Morgan Stanley lifted their price objective on Accenture from $297.00 to $305.00 and gave the stock an “overweight” rating in a report on Tuesday, March 23rd. Barclays lifted their price objective on Accenture from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, March 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on Accenture from $278.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, April 13th. Finally, Berenberg Bank boosted their price target on Accenture from $258.00 to $285.00 and gave the company a “buy” rating in a report on Tuesday, February 2nd. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Accenture has an average rating of “Buy” and a consensus price target of $276.05.
Accenture (NYSE:ACN) last announced its earnings results on Wednesday, March 17th. The information technology services provider reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.13. The business had revenue of $12.09 billion during the quarter, compared to analyst estimates of $11.83 billion. Accenture had a net margin of 11.74% and a return on equity of 29.32%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.91 EPS. On average, research analysts forecast that Accenture plc will post 8.22 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 14th. Shareholders of record on Thursday, April 15th will be paid a dividend of $0.88 per share. The ex-dividend date is Wednesday, April 14th. This represents a $3.52 dividend on an annualized basis and a yield of 1.21%. Accenture’s dividend payout ratio is presently 47.18%.
In other news, insider James O. Etheredge sold 2,428 shares of the company’s stock in a transaction on Wednesday, February 3rd. The stock was sold at an average price of $248.54, for a total value of $603,455.12. Also, CAO Richard P. Clark sold 3,247 shares of the company’s stock in a transaction on Wednesday, February 3rd. The stock was sold at an average price of $248.63, for a total value of $807,301.61. Over the last quarter, insiders have sold 47,598 shares of company stock valued at $12,957,921. Company insiders own 0.07% of the company’s stock.
Accenture Company Profile
Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company also provides outsourcing services. It serves communications, media, high tech, software, and platform companies; banking, capital market, and insurance industries; and consumer goods, retail, travel services, industrial, and life science industries, as well as clients in health, public service, chemicals and natural resources, energy, and utilities sectors.
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