Palisade Capital Management LLC NJ Purchases 110 Shares of Accenture plc (NYSE:ACN)

Palisade Capital Management LLC NJ grew its position in shares of Accenture plc (NYSE:ACNGet Rating) by 12.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 991 shares of the information technology services provider’s stock after purchasing an additional 110 shares during the quarter. Palisade Capital Management LLC NJ’s holdings in Accenture were worth $334,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ACN. Norges Bank bought a new stake in shares of Accenture in the 4th quarter valued at $2,346,198,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Accenture in the 1st quarter valued at $918,234,000. Third Point LLC bought a new stake in shares of Accenture in the 4th quarter valued at $518,188,000. Assenagon Asset Management S.A. increased its stake in shares of Accenture by 8,042.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 927,299 shares of the information technology services provider’s stock valued at $312,713,000 after acquiring an additional 915,910 shares in the last quarter. Finally, State Street Corp increased its stake in Accenture by 3.2% during the 4th quarter. State Street Corp now owns 26,117,172 shares of the information technology services provider’s stock valued at $10,826,880,000 after purchasing an additional 817,970 shares in the last quarter. Institutional investors own 74.46% of the company’s stock.

Insider Buying and Selling

In other Accenture news, insider Jean-Marc Ollagnier sold 6,250 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $270.93, for a total value of $1,693,312.50. Following the completion of the sale, the insider now owns 159,630 shares of the company’s stock, valued at $43,248,555.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Accenture news, insider Jean-Marc Ollagnier sold 6,250 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $270.93, for a total value of $1,693,312.50. Following the completion of the sale, the insider now owns 159,630 shares of the company’s stock, valued at $43,248,555.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Joel Unruch sold 555 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $300.00, for a total value of $166,500.00. Following the completion of the sale, the general counsel now directly owns 25,601 shares of the company’s stock, valued at approximately $7,680,300. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,389 shares of company stock worth $3,132,777. Insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

ACN has been the subject of a number of recent research reports. BMO Capital Markets initiated coverage on shares of Accenture in a research note on Friday, June 24th. They set a “hold” rating and a $337.00 price target for the company. Citigroup decreased their price target on shares of Accenture from $400.00 to $330.00 and set a “buy” rating for the company in a research note on Friday, June 24th. BNP Paribas downgraded shares of Accenture from an “outperform” rating to a “neutral” rating and set a $320.00 price objective on the stock. in a report on Wednesday, June 29th. Barclays cut their price objective on shares of Accenture from $455.00 to $370.00 and set an “overweight” rating on the stock in a report on Friday, June 24th. Finally, Exane BNP Paribas downgraded shares of Accenture from an “outperform” rating to a “neutral” rating in a report on Wednesday, June 29th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and an average target price of $358.84.

Accenture Stock Down 0.4 %

Shares of ACN opened at $309.35 on Friday. The business’s 50-day moving average price is $288.13 and its 200-day moving average price is $308.57. Accenture plc has a twelve month low of $261.77 and a twelve month high of $417.37. The stock has a market cap of $195.68 billion, a PE ratio of 30.00, a P/E/G ratio of 2.91 and a beta of 1.22.

Accenture (NYSE:ACNGet Rating) last announced its quarterly earnings results on Thursday, June 23rd. The information technology services provider reported $2.79 earnings per share for the quarter, missing the consensus estimate of $2.84 by ($0.05). The company had revenue of $16.16 billion for the quarter, compared to the consensus estimate of $16.05 billion. Accenture had a net margin of 11.13% and a return on equity of 31.50%. During the same quarter in the prior year, the company earned $2.40 earnings per share. Analysts expect that Accenture plc will post 10.68 earnings per share for the current fiscal year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Thursday, July 14th will be given a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Wednesday, July 13th. Accenture’s dividend payout ratio (DPR) is 37.63%.

About Accenture

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Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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