Heritage Family Offices LLP Has $1.92 Million Holdings in Accenture plc (NYSE:ACN)

Heritage Family Offices LLP boosted its stake in Accenture plc (NYSE:ACN) by 2.9% during the 1st quarter, HoldingsChannel reports. The fund owned 6,161 shares of the information technology services provider’s stock after acquiring an additional 171 shares during the quarter. Accenture comprises 1.0% of Heritage Family Offices LLP’s investment portfolio, making the stock its 25th largest position. Heritage Family Offices LLP’s holdings in Accenture were worth $1,922,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ACN. Vanguard Group Inc. grew its holdings in shares of Accenture by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 60,394,657 shares of the information technology services provider’s stock worth $21,246,236,000 after buying an additional 392,183 shares in the last quarter. Geode Capital Management LLC boosted its position in Accenture by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 13,528,348 shares of the information technology services provider’s stock worth $4,750,021,000 after acquiring an additional 136,665 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Accenture by 16.8% during the 4th quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider’s stock worth $4,325,526,000 after acquiring an additional 1,770,024 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Accenture by 22.8% in the fourth quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider’s stock worth $4,283,225,000 after purchasing an additional 2,260,740 shares in the last quarter. Finally, Capital International Investors grew its position in Accenture by 2.2% in the fourth quarter. Capital International Investors now owns 8,513,140 shares of the information technology services provider’s stock valued at $2,994,922,000 after purchasing an additional 181,449 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Robert W. Baird raised shares of Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 target price for the company in a research note on Monday, March 17th. Guggenheim decreased their price target on shares of Accenture from $400.00 to $395.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. BMO Capital Markets boosted their price target on Accenture to $355.00 and gave the company a “hold” rating in a research note on Wednesday, March 26th. Piper Sandler decreased their target price on shares of Accenture from $364.00 to $355.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Barclays cut their price objective on shares of Accenture from $415.00 to $390.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and a consensus target price of $382.14.

Insider Activity

In other news, insider Angela Beatty sold 169 shares of the business’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.90, for a total transaction of $47,641.10. Following the completion of the transaction, the insider now directly owns 5,364 shares in the company, valued at $1,512,111.60. The trade was a 3.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Julie Spellman Sweet sold 2,284 shares of Accenture stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.63, for a total value of $643,242.92. Following the sale, the chief executive officer now directly owns 9,965 shares of the company’s stock, valued at $2,806,442.95. This represents a 18.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,516 shares of company stock worth $2,507,366 over the last ninety days. Company insiders own 0.02% of the company’s stock.

Accenture Price Performance

Shares of NYSE ACN opened at $314.49 on Tuesday. The firm has a market cap of $196.97 billion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of 3.23 and a beta of 1.35. The stock has a fifty day simple moving average of $302.69 and a two-hundred day simple moving average of $338.08. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 1-year low of $275.01 and a 1-year high of $398.35.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.01. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company had revenue of $16.70 billion for the quarter, compared to analyst estimates of $16.64 billion. During the same quarter in the previous year, the firm posted $2.77 earnings per share. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. Analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Thursday, April 10th. Accenture’s payout ratio is presently 48.89%.

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.