Accenture PLC $ACN Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Accenture PLC (NYSE:ACN) by 26.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 110,149 shares of the information technology services provider’s stock after acquiring an additional 22,784 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Accenture were worth $29,553,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Triumph Capital Management purchased a new position in shares of Accenture during the 3rd quarter valued at about $26,000. Board of the Pension Protection Fund acquired a new position in Accenture in the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC purchased a new stake in Accenture in the 4th quarter worth approximately $27,000. Private Wealth Management Group LLC grew its stake in shares of Accenture by 96.4% during the 4th quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 53 shares during the period. Finally, Steph & Co. increased its holdings in shares of Accenture by 107.5% during the 4th quarter. Steph & Co. now owns 110 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Stock Down 0.6%

Shares of ACN opened at $179.10 on Wednesday. The stock has a 50 day moving average price of $195.74 and a 200 day moving average price of $235.35. Accenture PLC has a one year low of $173.56 and a one year high of $325.71. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $119.18 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.71 and a beta of 1.08.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The company had revenue of $18.04 billion for the quarter, compared to analyst estimates of $17.80 billion. During the same quarter last year, the firm posted $2.82 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts forecast that Accenture PLC will post 13.87 earnings per share for the current fiscal year.

Accenture Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ACN shares. Berenberg Bank assumed coverage on shares of Accenture in a report on Thursday, January 22nd. They set a “buy” rating and a $313.00 price target on the stock. Robert W. Baird cut their price objective on shares of Accenture from $330.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Morgan Stanley lowered their target price on shares of Accenture from $320.00 to $240.00 and set an “overweight” rating on the stock in a research note on Monday, March 16th. Piper Sandler set a $282.00 target price on Accenture in a research report on Thursday, March 5th. Finally, Mizuho decreased their price objective on shares of Accenture from $309.00 to $280.00 and set an “outperform” rating on the stock in a report on Monday, March 23rd. Seventeen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and a consensus price target of $274.50.

Insider Activity

In related news, CEO Atsushi Egawa sold 4,872 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were 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 of the company’s stock, valued at approximately $2,267,746.28. This represents a 27.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Julie Spellman Sweet sold 6,057 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $241.23, for a total transaction of $1,461,130.11. Following the completion of the transaction, the chief executive officer directly owned 15,255 shares in the company, valued at $3,679,963.65. This trade represents a 28.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.02% of the stock is currently owned by corporate insiders.

About Accenture

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.