O Shaughnessy Asset Management LLC Buys 22,605 Shares of Accenture PLC $ACN
by Mitch Edgeman · The Markets DailyO Shaughnessy Asset Management LLC grew its stake in Accenture PLC (NYSE:ACN – Free Report) by 23.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,056 shares of the information technology services provider’s stock after purchasing an additional 22,605 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Accenture were worth $31,406,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC grew its position in shares of Accenture by 36.2% in the fourth quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider’s stock valued at $6,486,000 after purchasing an additional 4,905 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in Accenture by 46.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,066 shares of the information technology services provider’s stock valued at $618,000 after purchasing an additional 660 shares during the period. United Bank grew its holdings in Accenture by 49.8% in the 2nd quarter. United Bank now owns 3,639 shares of the information technology services provider’s stock valued at $1,088,000 after buying an additional 1,209 shares in the last quarter. Bank of Nova Scotia increased its position in Accenture by 23.0% during the 2nd quarter. Bank of Nova Scotia now owns 828 shares of the information technology services provider’s stock worth $247,000 after buying an additional 155 shares during the period. Finally, Main Street Financial Solutions LLC lifted its holdings in shares of Accenture by 4.2% during the second quarter. Main Street Financial Solutions LLC now owns 1,767 shares of the information technology services provider’s stock worth $528,000 after buying an additional 72 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.
Analyst Upgrades and Downgrades
ACN has been the topic of several research reports. The Goldman Sachs Group decreased their price target on shares of Accenture from $300.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, June 3rd. Truist Financial downgraded shares of Accenture from a “buy” rating to a “hold” rating and cut their price objective for the company from $260.00 to $210.00 in a report on Monday, June 1st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Accenture from $210.00 to $199.00 and set a “hold” rating on the stock in a research report on Tuesday, June 2nd. Oppenheimer set a $201.00 price objective on Accenture in a report on Monday. Finally, UBS Group reaffirmed a “buy” rating on shares of Accenture in a report on Tuesday, March 17th. Seventeen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Accenture presently has a consensus rating of “Moderate Buy” and a consensus target price of $260.81.
Read Our Latest Stock Report on ACN
Accenture Stock Performance
Shares of Accenture stock opened at $174.42 on Tuesday. The stock has a market cap of $116.06 billion, a price-to-earnings ratio of 14.28, a P/E/G ratio of 1.69 and a beta of 1.09. Accenture PLC has a twelve month low of $155.82 and a twelve month high of $321.77. The company’s fifty day moving average is $183.86 and its 200 day moving average is $223.76. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.16.
Accenture (NYSE:ACN – Get Free Report) last announced its earnings results 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. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The business had revenue of $18.04 billion during the quarter, compared to analyst estimates of $17.80 billion. During the same period last year, the company earned $2.82 EPS. Accenture’s revenue for the quarter was up 7.8% compared to the same quarter last year. Sell-side analysts forecast that Accenture PLC will post 13.88 EPS for the current year.
Accenture Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 9th were issued a $1.63 dividend. The ex-dividend date was Thursday, April 9th. This represents a $6.52 annualized dividend and a yield of 3.7%. Accenture’s dividend payout ratio is presently 53.40%.
Insiders Place Their Bets
In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer owned 12,802 shares in the company, valued at approximately $2,267,746.28. This trade represents a 27.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.02% of the company’s stock.
Accenture News Roundup
Here are the key news stories impacting Accenture this week:
- Positive Sentiment: Accenture announced a new AI Adoption Maturity Model with Carnegie Mellon University’s Software Engineering Institute, a move that could strengthen its positioning as a trusted enterprise AI consulting partner and support future services demand. Article: Accenture and the Carnegie Mellon University Software Engineering Institute Launch AI Adoption Maturity Model to Help Organizations Scale AI with Predictable Outcomes
- Positive Sentiment: Analysts at JPMorgan and TD Cowen maintained bullish ratings on Accenture despite trimming price targets, signaling continued confidence in the company’s long-term fundamentals and upside from current levels. Article: JPMorgan adjusts price target on Accenture to 201 from 247 maintains overweight rating Article: TD Cowen adjusts price target on Accenture to 258 from 282 maintains buy rating
- Positive Sentiment: Accenture’s planned acquisition of Whalar, a leading creator and social agency, suggests it is expanding capabilities in digital marketing and creator-led services, which could broaden its growth opportunities. Article: Accenture to Acquire Leading Creator and Social Agency Whalar, from Whalar Group
- Neutral Sentiment: Commentary pieces emphasized Accenture as a major player in enterprise AI and highlighted its debt-free balance sheet, but these were mostly strategic overviews rather than new financial catalysts. Article: Is Accenture (ACN) Turning AI Readiness Consulting Into a Defensible Edge in Enterprise Services? Article: Accenture Plc (ACN): A Debt-Free IT Stock Expanding AI Capabilities Despite Downgrade
- Negative Sentiment: Accenture shares were pressured by a stock decline versus a broadly firmer market, indicating weak near-term investor sentiment around the name. Article: Accenture (ACN) Stock Falls Amid Market Uptick: What Investors Need to Know
- Negative Sentiment: A recent Truist downgrade noted concerns about constrained client budgets and competitive pressures, reinforcing worries that consulting demand may remain uneven in the near term. Article: Accenture Plc (ACN): A Debt-Free IT Stock Expanding AI Capabilities Despite Downgrade
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.
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