Accenture plc (NYSE:ACN) Stock Position Trimmed by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lessened its holdings in shares of Accenture plc (NYSE:ACN) by 9.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,669 shares of the information technology services provider’s stock after selling 2,249 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Accenture were worth $7,164,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Accenture by 0.3% in the third quarter. Vanguard Group Inc. now owns 58,434,025 shares of the information technology services provider’s stock worth $17,945,673,000 after purchasing an additional 184,541 shares during the period. Wellington Management Group LLP raised its position in shares of Accenture by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 11,034,666 shares of the information technology services provider’s stock worth $3,388,856,000 after buying an additional 720,647 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Accenture by 1.9% in the fourth quarter. Capital Research Global Investors now owns 8,479,430 shares of the information technology services provider’s stock valued at $2,975,517,000 after acquiring an additional 159,696 shares in the last quarter. Norges Bank acquired a new position in shares of Accenture during the fourth quarter valued at approximately $2,061,490,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Accenture by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,466,684 shares of the information technology services provider’s stock worth $1,556,676,000 after purchasing an additional 68,635 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Stock Up 0.4 %

Shares of Accenture stock traded up $1.28 on Tuesday, hitting $303.83. 2,007,374 shares of the company traded hands, compared to its average volume of 2,907,547. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51. The company has a 50-day moving average price of $299.86 and a 200 day moving average price of $335.76. The company has a market cap of $190.41 billion, a PE ratio of 27.68, a PEG ratio of 3.38 and a beta of 1.23.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share for the quarter, missing the consensus estimate of $3.15 by ($0.02). The firm had revenue of $16.47 billion during the quarter, compared to analyst estimates of $16.55 billion. Accenture had a return on equity of 27.48% and a net margin of 10.79%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $3.19 earnings per share. Equities research analysts anticipate that Accenture plc will post 11.95 EPS for the current year.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th will be paid a dividend of $1.29 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $5.16 annualized dividend and a dividend yield of 1.70%. Accenture’s dividend payout ratio (DPR) is 47.25%.

Analysts Set New Price Targets

ACN has been the topic of several research analyst reports. Piper Sandler Companies lowered their price target on Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a research report on Monday, June 17th. TD Cowen dropped their price target on shares of Accenture from $294.00 to $293.00 and set a “hold” rating on the stock in a research report on Friday, June 21st. Bank of America reduced their price objective on shares of Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft downgraded shares of Accenture from a “buy” rating to a “hold” rating and dropped their target price for the stock from $409.00 to $295.00 in a report on Wednesday, May 15th. Finally, BMO Capital Markets reduced their target price on shares of Accenture from $375.00 to $350.00 and set a “market perform” rating for the company in a report on Friday, June 21st. Twelve investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Accenture presently has an average rating of “Moderate Buy” and an average target price of $352.74.

Insider Activity

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the sale, the insider now owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jean-Marc Ollagnier sold 6,250 shares of the stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total value of $1,536,100.00. Following the completion of the transaction, the insider now directly owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,083 shares of company stock worth $6,302,285. 0.07% of the stock is owned by corporate insiders.

About Accenture

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.