State Treasurer State of Michigan lifted its stake in Accenture Plc (NYSE:ACN) by 0.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 462,886 shares of the information technology services provider’s stock after acquiring an additional 1,200 shares during the quarter. State Treasurer State of Michigan’s holdings in Accenture were worth $81,477,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc grew its position in shares of Accenture by 1.5% in the third quarter. Vanguard Group Inc now owns 53,259,800 shares of the information technology services provider’s stock valued at $9,064,818,000 after purchasing an additional 770,904 shares during the last quarter. BlackRock Inc. grew its position in shares of Accenture by 0.7% in the fourth quarter. BlackRock Inc. now owns 42,873,376 shares of the information technology services provider’s stock valued at $6,045,575,000 after purchasing an additional 316,879 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Accenture by 10,215.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 24,674,776 shares of the information technology services provider’s stock valued at $175,000 after purchasing an additional 24,435,584 shares during the last quarter. Northern Trust Corp grew its position in shares of Accenture by 1.4% in the fourth quarter. Northern Trust Corp now owns 9,852,599 shares of the information technology services provider’s stock valued at $1,389,314,000 after purchasing an additional 139,968 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Accenture by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 8,446,583 shares of the information technology services provider’s stock valued at $1,189,171,000 after purchasing an additional 383,234 shares during the last quarter. 69.98% of the stock is currently owned by institutional investors and hedge funds.
Shares of ACN stock opened at $178.33 on Friday. The company has a market capitalization of $119.83 billion, a P/E ratio of 26.46, a P/E/G ratio of 2.36 and a beta of 1.12. Accenture Plc has a 1 year low of $132.63 and a 1 year high of $183.35.
The business also recently declared a semiannual dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, April 11th were paid a $1.46 dividend. This represents a dividend yield of 1.66%. The ex-dividend date of this dividend was Wednesday, April 10th. Accenture’s dividend payout ratio (DPR) is currently 43.32%.
In other Accenture news, CEO David Rowland sold 4,869 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $179.72, for a total transaction of $875,056.68. Following the completion of the sale, the chief executive officer now directly owns 31,516 shares in the company, valued at $5,664,055.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Chad T. Jerdee sold 2,441 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $177.77, for a total value of $433,936.57. Following the sale, the general counsel now owns 13,381 shares of the company’s stock, valued at $2,378,740.37. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,919 shares of company stock valued at $11,695,852. 0.18% of the stock is currently owned by corporate insiders.
Several research firms have recently commented on ACN. Zacks Investment Research downgraded Accenture from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. Credit Suisse Group set a $170.00 target price on Accenture and gave the company a “hold” rating in a research report on Tuesday, April 9th. Morgan Stanley upped their target price on Accenture from $178.00 to $184.00 and gave the company an “overweight” rating in a research report on Friday, March 29th. Cantor Fitzgerald upped their target price on Accenture from $185.00 to $199.00 and gave the company an “overweight” rating in a research report on Friday, March 29th. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a $190.00 target price on shares of Accenture in a research report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $183.58.
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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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