Choreo LLC Acquires 16,225 Shares of Accenture plc (NYSE:ACN)

Choreo LLC boosted its stake in shares of Accenture plc (NYSE:ACN) by 578.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,031 shares of the information technology services provider’s stock after purchasing an additional 16,225 shares during the quarter. Choreo LLC’s holdings in Accenture were worth $5,760,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Accenture by 1.1% during the first quarter. Vanguard Group Inc. now owns 59,718,732 shares of the information technology services provider’s stock valued at $20,699,110,000 after buying an additional 635,349 shares during the last quarter. Capital Research Global Investors raised its holdings in Accenture by 2.0% in the 1st quarter. Capital Research Global Investors now owns 8,652,537 shares of the information technology services provider’s stock valued at $2,999,056,000 after acquiring an additional 173,107 shares in the last quarter. Norges Bank bought a new stake in shares of Accenture in the 4th quarter worth approximately $2,061,490,000. Lazard Asset Management LLC grew its holdings in shares of Accenture by 4.1% during the 1st quarter. Lazard Asset Management LLC now owns 3,797,028 shares of the information technology services provider’s stock worth $1,316,086,000 after purchasing an additional 148,738 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Accenture by 6.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,044,810 shares of the information technology services provider’s stock valued at $1,055,362,000 after purchasing an additional 178,003 shares during the period. 75.14% of the stock is owned by institutional investors.

Accenture Price Performance

ACN stock opened at $341.71 on Tuesday. The stock has a market capitalization of $214.15 billion, a P/E ratio of 31.29, a P/E/G ratio of 3.60 and a beta of 1.24. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $387.51. The business has a 50-day moving average of $324.42 and a 200-day moving average of $323.84.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). Accenture had a return on equity of 27.48% and a net margin of 10.79%. The firm had revenue of $16.47 billion for the quarter, compared to analyst estimates of $16.55 billion. During the same period last year, the company earned $3.19 EPS. The company’s revenue was down .6% compared to the same quarter last year. Equities analysts expect that Accenture plc will post 11.95 EPS for the current year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th were given a dividend of $1.29 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $5.16 annualized dividend and a yield of 1.51%. Accenture’s dividend payout ratio (DPR) is presently 47.25%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Piper Sandler Companies reduced their price objective on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a report on Monday, June 17th. Guggenheim reissued a “buy” rating and issued a $395.00 price objective on shares of Accenture in a research note on Friday, May 24th. JPMorgan Chase & Co. lifted their price target on Accenture from $330.00 to $376.00 and gave the company an “overweight” rating in a report on Friday. UBS Group raised Accenture from a “neutral” rating to a “buy” rating and set a $400.00 target price for the company in a research note on Friday, July 19th. Finally, Susquehanna dropped their price objective on Accenture from $360.00 to $350.00 and set a “neutral” rating for the company in a report on Friday, June 21st. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $353.41.

Insider Transactions at Accenture

In related news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the sale, the insider now owns 8,989 shares in the company, valued at $2,964,751.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the transaction, the insider now directly owns 8,989 shares in the company, valued at $2,964,751.98. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Joel Unruch sold 8,145 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the completion of the sale, the general counsel now owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. The disclosure for this sale can be found here. Insiders sold a total of 21,421 shares of company stock worth $6,912,635 in the last three months. Insiders own 0.07% of the company’s stock.

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.