Howland Capital Management LLC Grows Position in Accenture plc (NYSE:ACN)

Howland Capital Management LLC grew its stake in shares of Accenture plc (NYSE:ACNFree Report) by 20.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,883 shares of the information technology services provider’s stock after buying an additional 322 shares during the quarter. Howland Capital Management LLC’s holdings in Accenture were worth $661,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ACN. Norges Bank purchased a new stake in shares of Accenture during the fourth quarter valued at approximately $1,850,765,000. Moneta Group Investment Advisors LLC boosted its stake in shares of Accenture by 101,214.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,040,402 shares of the information technology services provider’s stock valued at $1,078,141,000 after purchasing an additional 4,036,414 shares during the period. Morgan Stanley boosted its stake in shares of Accenture by 14.9% during the fourth quarter. Morgan Stanley now owns 16,642,841 shares of the information technology services provider’s stock valued at $4,440,976,000 after purchasing an additional 2,163,582 shares during the period. Wellington Management Group LLP lifted its stake in Accenture by 7.0% in the third 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 acquiring an additional 720,647 shares during the period. Finally, State Street Corp lifted its stake in Accenture by 2.7% in the first quarter. State Street Corp now owns 26,453,884 shares of the information technology services provider’s stock worth $7,560,765,000 after acquiring an additional 704,657 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analysts Set New Price Targets

ACN has been the subject of a number of research analyst reports. UBS Group raised their price target on Accenture from $365.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. TD Cowen dropped their price target on Accenture from $363.00 to $350.00 and set a “market perform” rating for the company in a research note on Friday, March 22nd. Piper Sandler raised their price target on Accenture from $335.00 to $394.00 and gave the stock a “neutral” rating in a research note on Monday, March 18th. Susquehanna reiterated a “neutral” rating and issued a $360.00 price objective (down previously from $400.00) on shares of Accenture in a report on Thursday, March 21st. Finally, Morgan Stanley increased their price objective on Accenture from $400.00 to $417.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $387.00.

View Our Latest Analysis on Accenture

Accenture Price Performance

NYSE ACN traded down $2.09 during trading hours on Wednesday, hitting $334.37. The company’s stock had a trading volume of 232,870 shares, compared to its average volume of 2,272,135. Accenture plc has a 12 month low of $261.68 and a 12 month high of $387.51. The company’s 50 day simple moving average is $367.29 and its two-hundred day simple moving average is $341.25. The company has a market cap of $224.28 billion, a P/E ratio of 30.50, a price-to-earnings-growth ratio of 3.21 and a beta of 1.19.

Accenture (NYSE:ACNGet Free Report) last released its quarterly earnings data on Thursday, March 21st. The information technology services provider reported $2.77 EPS for the quarter, topping the consensus estimate of $2.66 by $0.11. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The company had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.85 billion. During the same period last year, the company earned $2.69 EPS. Accenture’s revenue for the quarter was down .1% on a year-over-year basis. As a group, research analysts predict that Accenture plc will post 12.1 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, April 11th will be given a $1.29 dividend. The ex-dividend date is Wednesday, April 10th. This represents a $5.16 annualized dividend and a yield of 1.54%. Accenture’s payout ratio is 46.78%.

Insider Buying and Selling at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 3,010 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $371.80, for a total transaction of $1,119,118.00. Following the completion of the sale, the chief accounting officer now directly owns 9,193 shares in the company, valued at approximately $3,417,957.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Accenture news, CAO Melissa A. Burgum sold 3,010 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $371.80, for a total transaction of $1,119,118.00. Following the completion of the sale, the chief accounting officer now directly owns 9,193 shares in the company, valued at approximately $3,417,957.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Manish Sharma sold 1,486 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $370.39, for a total value of $550,399.54. Following the sale, the chief executive officer now owns 4,503 shares of the company’s stock, valued at $1,667,866.17. The disclosure for this sale can be found here. Insiders sold a total of 31,000 shares of company stock worth $11,146,998 in the last three months. 0.07% of the stock is currently owned by company insiders.

Accenture Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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