Fosun International Ltd Purchases 1,220 Shares of Accenture Plc (NYSE:ACN)

Fosun International Ltd grew its stake in shares of Accenture Plc (NYSE:ACN) by 33.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,820 shares of the information technology services provider’s stock after purchasing an additional 1,220 shares during the period. Fosun International Ltd’s holdings in Accenture were worth $819,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ACN. Total Clarity Wealth Management Inc. purchased a new position in Accenture in the fourth quarter worth about $26,000. Exchange Traded Concepts LLC purchased a new position in shares of Accenture during the fourth quarter valued at approximately $28,000. BerganKDV Wealth Management LLC raised its holdings in shares of Accenture by 136.1% during the fourth quarter. BerganKDV Wealth Management LLC now owns 144 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 83 shares during the last quarter. Islay Capital Management LLC purchased a new position in shares of Accenture during the fourth quarter valued at approximately $31,000. Finally, Mark Sheptoff Financial Planning LLC raised its holdings in shares of Accenture by 200.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 150 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. 74.31% of the stock is currently owned by institutional investors and hedge funds.

ACN traded down $0.02 on Friday, reaching $193.48. The company’s stock had a trading volume of 691,154 shares, compared to its average volume of 2,271,193. The stock has a 50 day moving average of $176.36 and a two-hundred day moving average of $191.60. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $123.00 billion, a price-to-earnings ratio of 25.14, a P/E/G ratio of 2.58 and a beta of 1.05. Accenture Plc has a fifty-two week low of $137.15 and a fifty-two week high of $216.39.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, March 19th. The information technology services provider reported $1.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.19. Accenture had a return on equity of 32.87% and a net margin of 11.13%. The business had revenue of $11.14 billion during the quarter, compared to analysts’ expectations of $11.10 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, analysts anticipate that Accenture Plc will post 7.57 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 16th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Wednesday, April 15th. Accenture’s payout ratio is 43.48%.

ACN has been the subject of a number of recent analyst reports. UBS Group dropped their price target on shares of Accenture from $205.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, March 20th. Zacks Investment Research downgraded shares of Accenture from a “hold” rating to a “sell” rating and set a $196.00 target price on the stock. in a research note on Wednesday, April 15th. Cowen reduced their price target on shares of Accenture from $190.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. Moffett Nathanson raised shares of Accenture from a “neutral” rating to a “buy” rating and set a $200.00 price target on the stock in a research note on Friday, March 20th. Finally, Exane BNP Paribas initiated coverage on shares of Accenture in a research note on Wednesday, April 15th. They issued an “outperform” rating and a $215.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $208.89.

In other news, insider Jean-Marc Ollagnier sold 4,499 shares of the firm’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $175.21, for a total value of $788,269.79. Following the completion of the transaction, the insider now owns 180,110 shares in the company, valued at $31,557,073.10. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Johan Deblaere sold 3,000 shares of the firm’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $175.26, for a total value of $525,780.00. Following the completion of the transaction, the chief operating officer now owns 62,269 shares of the company’s stock, valued at approximately $10,913,264.94. The disclosure for this sale can be found here. Insiders sold 23,221 shares of company stock valued at $4,169,477 in the last quarter. 0.10% of the stock is currently owned by company insiders.

Accenture Profile

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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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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