Haverford Financial Services Inc. Reduces Holdings in Accenture plc (NYSE:ACN)

Haverford Financial Services Inc. reduced its stake in Accenture plc (NYSE:ACNFree Report) by 21.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,704 shares of the information technology services provider’s stock after selling 11,292 shares during the period. Accenture accounts for 4.3% of Haverford Financial Services Inc.’s holdings, making the stock its 5th biggest holding. Haverford Financial Services Inc.’s holdings in Accenture were worth $14,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ACN. Vanguard Group Inc. boosted its stake in Accenture by 0.3% in the third quarter. Vanguard Group Inc. now owns 58,434,025 shares of the information technology services provider’s stock valued at $17,945,673,000 after acquiring an additional 184,541 shares in the last quarter. FMR LLC raised its holdings in shares of Accenture by 4.4% during the third quarter. FMR LLC now owns 13,316,028 shares of the information technology services provider’s stock worth $4,089,485,000 after purchasing an additional 565,505 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Accenture by 7.0% during the third quarter. Wellington Management Group LLP now owns 11,034,666 shares of the information technology services provider’s stock worth $3,388,856,000 after purchasing an additional 720,647 shares during the last quarter. Northern Trust Corp increased its holdings in Accenture by 5.6% in the third quarter. Northern Trust Corp now owns 8,285,864 shares of the information technology services provider’s stock valued at $2,544,672,000 after buying an additional 443,004 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Accenture by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,466,684 shares of the information technology services provider’s stock valued at $1,556,676,000 after buying an additional 68,635 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors.

Accenture Trading Down 1.4 %

ACN traded down $4.41 during trading hours on Friday, hitting $303.59. 4,232,001 shares of the company’s stock were exchanged, compared to its average volume of 2,973,109. Accenture plc has a 12-month low of $284.26 and a 12-month high of $387.51. The firm has a 50 day moving average of $328.56 and a 200 day moving average of $342.46. The firm has a market cap of $203.63 billion, a P/E ratio of 27.52, a price-to-earnings-growth ratio of 2.92 and a beta of 1.21.

Accenture (NYSE:ACNGet Free Report) last announced its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.11. The firm had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.85 billion. Accenture had a net margin of 10.89% and a return on equity of 28.30%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.69 EPS. As a group, research analysts expect that Accenture plc will post 12.09 EPS for the current fiscal year.

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, April 11th were given a $1.29 dividend. The ex-dividend date of this dividend was Wednesday, April 10th. This represents a $5.16 dividend on an annualized basis and a yield of 1.70%. Accenture’s dividend payout ratio (DPR) is presently 46.78%.

Insiders Place Their Bets

In other Accenture news, CEO Jean-Marc Ollagnier sold 6,250 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $315.91, for a total value of $1,974,437.50. Following the completion of the sale, the chief executive officer now owns 161,581 shares in the company, valued at $51,045,053.71. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Accenture news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the transaction, the insider now owns 13,699 shares in the company, valued at approximately $4,208,606.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jean-Marc Ollagnier sold 6,250 shares of the company’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the transaction, the chief executive officer now owns 161,581 shares of the company’s stock, valued at approximately $51,045,053.71. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,083 shares of company stock valued at $8,959,325. 0.07% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ACN has been the topic of several research analyst reports. Piper Sandler lifted their target price on shares of Accenture from $335.00 to $394.00 and gave the company a “neutral” rating in a research report on Monday, March 18th. Redburn Atlantic boosted their price target on shares of Accenture from $410.00 to $445.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Morgan Stanley lifted their target price on shares of Accenture from $400.00 to $417.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. BMO Capital Markets reduced their target price on shares of Accenture from $385.00 to $375.00 and set a “market perform” rating on the stock in a research note on Friday, March 22nd. Finally, Royal Bank of Canada lifted their target price on shares of Accenture from $374.00 to $381.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Accenture currently has an average rating of “Moderate Buy” and an average target price of $381.67.

View Our Latest Analysis on Accenture

Accenture Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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