GUARDCAP ASSET MANAGEMENT Ltd Reduces Holdings in Accenture PLC $ACN

by · The Cerbat Gem

GUARDCAP ASSET MANAGEMENT Ltd trimmed its position in shares of Accenture PLC (NYSE:ACNFree Report) by 15.5% in the 4th quarter, Holdings Channel reports. The firm owned 605,644 shares of the information technology services provider’s stock after selling 110,980 shares during the period. Accenture accounts for approximately 4.3% of GUARDCAP ASSET MANAGEMENT Ltd’s portfolio, making the stock its 13th largest position. GUARDCAP ASSET MANAGEMENT Ltd’s holdings in Accenture were worth $162,571,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Accenture by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 66,070,930 shares of the information technology services provider’s stock worth $17,726,831,000 after purchasing an additional 854,361 shares in the last quarter. State Street Corp increased its position in shares of Accenture by 0.4% during the third quarter. State Street Corp now owns 28,135,065 shares of the information technology services provider’s stock worth $6,938,156,000 after purchasing an additional 118,460 shares in the last quarter. Capital International Investors grew its holdings in Accenture by 41.1% in the 3rd quarter. Capital International Investors now owns 17,128,134 shares of the information technology services provider’s stock valued at $4,223,839,000 after buying an additional 4,984,930 shares in the last quarter. Geode Capital Management LLC grew its holdings in Accenture by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 14,656,436 shares of the information technology services provider’s stock valued at $3,922,212,000 after buying an additional 218,719 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Accenture by 5.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,693,994 shares of the information technology services provider’s stock valued at $2,869,199,000 after buying an additional 546,198 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Accenture

In related news, CEO Atsushi Egawa sold 4,872 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 12,802 shares in the company, valued at $2,267,746.28. This trade represents a 27.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the subject of several analyst reports. Citigroup dropped their target price on Accenture from $266.00 to $215.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. TD Cowen dropped their target price on Accenture from $282.00 to $275.00 and set a “buy” rating for the company in a report on Monday, March 16th. UBS Group restated a “buy” rating on shares of Accenture in a report on Tuesday, March 17th. Morgan Stanley dropped their target price on Accenture from $320.00 to $240.00 and set an “overweight” rating for the company in a report on Monday, March 16th. Finally, Royal Bank Of Canada dropped their target price on Accenture from $295.00 to $253.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Seventeen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $274.50.

Check Out Our Latest Stock Analysis on ACN

Accenture Stock Performance

NYSE ACN opened at $187.32 on Friday. The stock has a market cap of $124.65 billion, a PE ratio of 15.34, a P/E/G ratio of 1.78 and a beta of 1.08. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. Accenture PLC has a twelve month low of $155.82 and a twelve month high of $321.77. The stock has a fifty day simple moving average of $185.71 and a 200-day simple moving average of $226.50.

Accenture (NYSE:ACNGet Free Report) last released its quarterly earnings results on Friday, March 20th. The information technology services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates 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 company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.82 EPS. Equities analysts anticipate that Accenture PLC will post 13.87 earnings per share for the current year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 9th were issued a dividend of $1.63 per share. The ex-dividend date was Thursday, April 9th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.5%. Accenture’s dividend payout ratio is currently 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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