Park Avenue Securities LLC increased its position in shares of Accenture plc (NYSE:ACN) by 8.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,883 shares of the information technology services provider’s stock after purchasing an additional 2,022 shares during the quarter. Park Avenue Securities LLC’s holdings in Accenture were worth $7,150,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Accenture during the 4th quarter valued at $1,577,735,000. Nuveen Asset Management LLC raised its holdings in shares of 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 last quarter. BlackRock Inc. lifted its stake in shares of Accenture by 1.1% during the 4th quarter. BlackRock Inc. now owns 46,169,055 shares of the information technology services provider’s stock worth $12,059,818,000 after purchasing an additional 496,867 shares during the last quarter. Lazard Freres Gestion S.A.S. purchased a new stake in Accenture during the 4th quarter worth approximately $126,101,000. Finally, Wilkinson Global Asset Management LLC acquired a new stake in Accenture during the first quarter worth approximately $86,613,000. Hedge funds and other institutional investors own 70.99% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Accenture from $278.00 to $310.00 and gave the company a “buy” rating in a research report on Tuesday, April 13th. Morgan Stanley lifted their price objective on Accenture from $297.00 to $305.00 and gave the company an “overweight” rating in a report on Tuesday, March 23rd. Susquehanna increased their price objective on shares of Accenture from $290.00 to $325.00 and gave the stock a “positive” rating in a research report on Thursday, March 25th. Susquehanna Bancshares boosted their price target on shares of Accenture from $290.00 to $325.00 and gave the stock a “positive” rating in a report on Friday, March 19th. Finally, Bank of America raised shares of Accenture from a “neutral” rating to a “buy” rating and set a $300.00 price objective for the company in a report on Wednesday, March 24th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $276.05.
ACN stock traded down $1.07 during midday trading on Tuesday, reaching $291.10. The company had a trading volume of 6,661 shares, compared to its average volume of 2,047,157. Accenture plc has a 1 year low of $174.94 and a 1 year high of $293.42. The company has a market capitalization of $185.19 billion, a P/E ratio of 35.98, a P/E/G ratio of 3.09 and a beta of 1.08. The firm has a 50-day moving average price of $280.69 and a 200-day moving average price of $256.71.
Accenture (NYSE:ACN) last announced its quarterly earnings data on Wednesday, March 17th. The information technology services provider reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.13. Accenture had a net margin of 11.74% and a return on equity of 29.32%. The company had revenue of $12.09 billion during the quarter, compared to analyst estimates of $11.83 billion. During the same period in the previous year, the business earned $1.91 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, analysts anticipate that Accenture plc will post 8.22 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 14th. Investors of record on Thursday, April 15th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Wednesday, April 14th. Accenture’s payout ratio is currently 47.18%.
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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