Morningstar Investment Management LLC Lowers Stock Holdings in Accenture PLC $ACN

by · The Cerbat Gem

Morningstar Investment Management LLC reduced its position in shares of Accenture PLC (NYSE:ACNFree Report) by 44.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 31,641 shares of the information technology services provider’s stock after selling 25,113 shares during the period. Morningstar Investment Management LLC’s holdings in Accenture were worth $8,489,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Jaffetilchin Investment Partners LLC boosted its position in shares of Accenture by 4.2% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 878 shares of the information technology services provider’s stock worth $236,000 after buying an additional 35 shares during the period. Clayton Financial Group LLC boosted its position in shares of Accenture by 13.1% during the fourth quarter. Clayton Financial Group LLC now owns 329 shares of the information technology services provider’s stock worth $88,000 after buying an additional 38 shares during the period. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. boosted its position in shares of Accenture by 0.9% during the third quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 4,416 shares of the information technology services provider’s stock worth $1,089,000 after buying an additional 41 shares during the period. Peak Asset Management LLC boosted its position in shares of Accenture by 0.8% during the fourth quarter. Peak Asset Management LLC now owns 5,447 shares of the information technology services provider’s stock worth $1,461,000 after buying an additional 43 shares during the period. Finally, SkyView Investment Advisors LLC boosted its position in shares of Accenture by 1.2% during the second quarter. SkyView Investment Advisors LLC now owns 3,751 shares of the information technology services provider’s stock worth $1,108,000 after buying an additional 43 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ACN. Royal Bank Of Canada reduced their price objective on Accenture from $295.00 to $253.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. Robert W. Baird reduced their price objective on Accenture from $330.00 to $265.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. BMO Capital Markets reduced their price objective on Accenture from $300.00 to $230.00 and set a “market perform” rating on the stock in a research note on Friday, March 20th. Mizuho reduced their price objective on Accenture from $309.00 to $280.00 and set an “outperform” rating on the stock in a research note on Monday, March 23rd. Finally, Truist Financial reduced their price objective on Accenture from $317.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Accenture has a consensus rating of “Moderate Buy” and an average target price of $274.50.

Read Our Latest Stock Analysis on ACN

Insiders Place Their Bets

In related news, CEO Atsushi Egawa sold 4,872 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $177.14, for a total transaction of $863,026.08. Following the completion of the sale, the chief executive officer owned 12,802 shares in the company, valued at $2,267,746.28. The trade was a 27.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is currently owned by insiders.

Accenture Stock Up 0.1%

Shares of NYSE ACN opened at $179.36 on Monday. Accenture PLC has a 12-month low of $155.82 and a 12-month high of $321.77. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. The stock has a market cap of $119.35 billion, a P/E ratio of 14.69, a PEG ratio of 1.70 and a beta of 1.08. The business’s fifty day simple moving average is $187.42 and its 200-day simple moving average is $228.65.

Accenture (NYSE:ACNGet Free Report) last released its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. The business had revenue of $18.04 billion during the quarter, compared to analysts’ expectations of $17.80 billion. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.82 EPS. As a group, equities analysts predict that Accenture PLC will post 13.87 EPS for the current fiscal year.

Accenture Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 9th were paid a dividend of $1.63 per share. The ex-dividend date was Thursday, April 9th. This represents a $6.52 annualized dividend and a yield of 3.6%. Accenture’s payout ratio is presently 53.40%.

About Accenture

(Free Report)

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.

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