Envestnet Asset Management Inc. Purchases 5,910 Shares of Accenture plc (NYSE:ACN)

Envestnet Asset Management Inc. raised its position in Accenture plc (NYSE:ACN) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,214,325 shares of the information technology services provider’s stock after acquiring an additional 5,910 shares during the period. Envestnet Asset Management Inc.’s holdings in Accenture were worth $778,977,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Accenture by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 60,394,657 shares of the information technology services provider’s stock worth $21,246,236,000 after purchasing an additional 392,183 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Accenture by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 13,528,348 shares of the information technology services provider’s stock worth $4,750,021,000 after acquiring an additional 136,665 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Accenture by 22.8% during the fourth quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider’s stock worth $4,283,225,000 after acquiring an additional 2,260,740 shares during the last quarter. Norges Bank acquired a new position in shares of Accenture during the fourth quarter valued at about $2,351,683,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Accenture by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,964,480 shares of the information technology services provider’s stock valued at $1,746,455,000 after purchasing an additional 140,726 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Accenture

In related news, CAO Melissa A. Burgum sold 1,487 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the transaction, the chief accounting officer now directly owns 9,247 shares in the company, valued at approximately $3,278,431.38. The trade was a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Angela Beatty sold 961 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.47, for a total transaction of $340,645.67. Following the completion of the sale, the insider now owns 5,484 shares of the company’s stock, valued at approximately $1,943,913.48. The trade was a 14.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,905 shares of company stock worth $8,181,753. Corporate insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

ACN has been the topic of a number of recent analyst reports. Baird R W upgraded shares of Accenture from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. StockNews.com downgraded Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Guggenheim lowered their price target on Accenture from $400.00 to $395.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective on the stock in a report on Wednesday, January 8th. Finally, Royal Bank of Canada decreased their target price on Accenture from $399.00 to $392.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.23.

Accenture Price Performance

Shares of NYSE ACN opened at $285.04 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market cap of $178.53 billion, a PE ratio of 23.91, a PEG ratio of 3.23 and a beta of 1.32. Accenture plc has a one year low of $278.69 and a one year high of $398.35. The firm has a fifty day moving average of $349.68 and a 200 day moving average of $354.42.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.01. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm had revenue of $16.70 billion during the quarter, compared to the consensus estimate of $16.64 billion. During the same quarter in the prior year, the firm earned $2.77 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, research analysts predict that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 10th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 2.08%. The ex-dividend date is Thursday, April 10th. Accenture’s dividend payout ratio is currently 48.89%.

Accenture Company Profile

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.