Cumberland Partners Ltd reduced its position in Accenture Plc (NYSE:ACN) by 2.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 46,321 shares of the information technology services provider’s stock after selling 1,230 shares during the quarter. Cumberland Partners Ltd’s holdings in Accenture were worth $7,563,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in ACN. Norges Bank acquired a new position in Accenture in the 4th quarter valued at $1,334,072,000. UBS Asset Management Americas Inc. increased its stake in Accenture by 34.4% in the 4th quarter. UBS Asset Management Americas Inc. now owns 4,616,727 shares of the information technology services provider’s stock valued at $972,144,000 after buying an additional 1,181,132 shares during the period. GQG Partners LLC increased its stake in Accenture by 8,478.9% in the 4th quarter. GQG Partners LLC now owns 1,009,731 shares of the information technology services provider’s stock valued at $212,671,000 after buying an additional 997,961 shares during the period. Mawer Investment Management Ltd. increased its stake in Accenture by 3,501.2% in the 4th quarter. Mawer Investment Management Ltd. now owns 1,020,555 shares of the information technology services provider’s stock valued at $214,898,000 after buying an additional 992,216 shares during the period. Finally, Amundi Pioneer Asset Management Inc. increased its stake in Accenture by 27.4% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 3,146,435 shares of the information technology services provider’s stock valued at $662,546,000 after buying an additional 676,463 shares during the period. 73.64% of the stock is currently owned by institutional investors.
ACN has been the topic of several recent research reports. Societe Generale raised shares of Accenture to a “buy” rating and set a $205.00 price objective on the stock in a research note on Friday, March 27th. Atlantic Securities assumed coverage on shares of Accenture in a research report on Wednesday, February 19th. They set an “overweight” rating and a $246.00 target price on the stock. Zacks Investment Research lowered shares of Accenture from a “hold” rating to a “sell” rating and set a $196.00 target price on the stock. in a research report on Wednesday, April 15th. Morgan Stanley decreased their target price on shares of Accenture from $240.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 17th. Finally, Cowen decreased their target price on shares of Accenture from $190.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, March 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company. Accenture has a consensus rating of “Buy” and an average price target of $208.89.
NYSE:ACN traded up $1.50 on Wednesday, reaching $207.28. The stock had a trading volume of 1,600,203 shares, compared to its average volume of 1,981,515. The company has a market cap of $130.99 billion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 2.69 and a beta of 1.06. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.38 and a quick ratio of 1.38. The firm’s fifty day moving average is $184.52 and its two-hundred day moving average is $192.16. Accenture Plc has a 12-month low of $137.15 and a 12-month high of $216.39.
Accenture (NYSE:ACN) last released its earnings results on Thursday, March 19th. The information technology services provider reported $1.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.19. The company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.10 billion. Accenture had a net margin of 11.13% and a return on equity of 32.87%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.73 EPS. As a group, research analysts forecast that Accenture Plc will post 7.57 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 16th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Wednesday, April 15th. Accenture’s dividend payout ratio is currently 43.48%.
Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.
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