89,866 Shares in Accenture PLC $ACN Acquired by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Accenture PLC (NYSE:ACN) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 89,866 shares of the information technology services provider’s stock, valued at approximately $11,183,000.

Several other institutional investors have also recently made changes to their positions in the business. Laurel Wealth Advisors LLC acquired a new stake in Accenture during the fourth quarter worth about $27,000. McMillan Office Inc. acquired a new stake in shares of Accenture during the 4th quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Accenture during the 4th quarter valued at approximately $27,000. Triumph Capital Management acquired a new position in shares of Accenture in the 3rd quarter valued at $26,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in Accenture during the fourth quarter worth $35,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ACN shares. Mizuho cut their price objective on shares of Accenture from $280.00 to $226.00 and set an “outperform” rating for the company in a report on Tuesday, June 23rd. Truist Financial dropped their target price on Accenture from $210.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, June 22nd. BMO Capital Markets restated a “market perform” rating and issued a $150.00 price target on shares of Accenture in a research note on Friday, June 19th. Susquehanna lowered their price target on Accenture from $186.00 to $140.00 and set a “neutral” rating on the stock in a research report on Monday, June 22nd. Finally, Citigroup dropped their price objective on Accenture from $215.00 to $195.00 and set a “neutral” rating on the stock in a report on Monday, June 1st. Twelve equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Accenture has a consensus rating of “Hold” and an average target price of $192.96.

Accenture Stock Down 3.8%

ACN stock opened at $170.23 on Tuesday. Accenture PLC has a 52 week low of $118.15 and a 52 week high of $291.09. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.15. The firm has a 50-day simple moving average of $151.07 and a 200-day simple moving average of $182.13. The stock has a market capitalization of $113.68 billion, a P/E ratio of 13.60, a P/E/G ratio of 1.83 and a beta of 1.09.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Friday, June 19th. The information technology services provider reported $3.80 earnings per share for the quarter, beating analysts’ consensus estimates of $3.70 by $0.10. Accenture had a net margin of 10.66% and a return on equity of 26.47%. The firm had revenue of $18.72 billion for the quarter, compared to analyst estimates of $18.78 billion. During the same period last year, the company posted $3.49 EPS. Accenture’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities analysts forecast that Accenture PLC will post 13.85 earnings per share for the current fiscal year.

Accenture Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Thursday, July 9th were paid a $1.63 dividend. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.8%. Accenture’s payout ratio is currently 52.08%.

Accenture announced that its board has initiated a share buyback program on Tuesday, June 23rd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the information technology services provider to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Accenture

In related news, General Counsel Joel Unruch sold 10,498 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $162.98, for a total value of $1,710,964.04. Following the completion of the transaction, the general counsel directly owned 17,735 shares of the company’s stock, valued at approximately $2,890,450.30. This represents a 37.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.02% of the company’s stock.

Accenture Profile

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.