Fisher Asset Management LLC Grows Stake in Accenture plc (NYSE:ACN)

Posted by Defense World Staff on Apr 29th, 2023

Fisher Asset Management LLC grew its holdings in Accenture plc (NYSE:ACN – Get Rating) by 21.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,569 shares of the information technology services provider’s stock after acquiring an additional 461 shares during the quarter. Fisher Asset Management LLC’s holdings in Accenture were worth $686,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Affiance Financial LLC purchased a new position in shares of Accenture in the 4th quarter valued at about $25,000. My Personal CFO LLC purchased a new position in shares of Accenture in the 4th quarter valued at about $27,000. Ten Capital Wealth Advisors LLC boosted its position in shares of Accenture by 61.8% in the 3rd quarter. Ten Capital Wealth Advisors LLC now owns 123 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 47 shares during the period. EWG Elevate Inc. acquired a new stake in shares of Accenture in the 4th quarter valued at about $32,000. Finally, Align Wealth Management LLC acquired a new stake in shares of Accenture in the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 73.97% of the company’s stock.

Accenture Trading Up 1.8 %

Shares of ACN stock opened at $280.29 on Friday. The company has a market cap of $177.11 billion, a price-to-earnings ratio of 25.81, a price-to-earnings-growth ratio of 2.47 and a beta of 1.25. The stock has a 50 day simple moving average of $271.01 and a 200-day simple moving average of $275.79. Accenture plc has a 12-month low of $242.80 and a 12-month high of $322.88.

Accenture (NYSE:ACN – Get Rating) last issued its earnings results on Thursday, March 23rd. The information technology services provider reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.20. Accenture had a return on equity of 30.73% and a net margin of 11.00%. The business had revenue of $15.81 billion during the quarter, compared to the consensus estimate of $15.59 billion. During the same period in the prior year, the business posted $2.54 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts forecast that Accenture plc will post 11.57 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Thursday, April 13th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 1.60%. The ex-dividend date is Wednesday, April 12th. Accenture’s payout ratio is currently 41.25%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ACN. William Blair reissued an “outperform” rating on shares of Accenture in a research report on Monday, March 20th. Wells Fargo & Company upped their target price on Accenture from $289.00 to $294.00 and gave the company an “equal weight” rating in a research report on Friday, March 24th. JPMorgan Chase & Co. upped their target price on Accenture from $311.00 to $314.00 and gave the company an “overweight” rating in a research report on Friday, March 24th. Royal Bank of Canada upped their target price on Accenture from $335.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, March 24th. Finally, Citigroup increased their price objective on Accenture from $300.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, March 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $314.00.

Insider Activity at Accenture

In related news, insider Jean-Marc Ollagnier sold 6,250 shares of the firm’s stock in a transaction that occurred on Friday, April 14th. The stock was sold at an average price of $280.06, for a total value of $1,750,375.00. Following the completion of the transaction, the insider now directly owns 174,084 shares of the company’s stock, valued at approximately $48,753,965.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Accenture news, insider Jean-Marc Ollagnier sold 6,250 shares of the firm’s stock in a transaction on Friday, April 14th. The stock was sold at an average price of $280.06, for a total transaction of $1,750,375.00. Following the completion of the transaction, the insider now owns 174,084 shares of the company’s stock, valued at $48,753,965.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 2,954 shares of the firm’s stock in a transaction on Friday, April 14th. The stock was sold at an average price of $280.05, for a total value of $827,267.70. Following the transaction, the chief executive officer now directly owns 24,459 shares of the company’s stock, valued at approximately $6,849,742.95. The disclosure for this sale can be found here. Insiders sold 15,010 shares of company stock valued at $4,180,030 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.

About Accenture

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Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following geographical segments: North America, Europe and Growth Markets. The company was founded in 1989 and is headquartered in Dublin, Ireland.