Allspring Global Investments Holdings LLC Sells 6,949 Shares of Accenture PLC $ACN

Allspring Global Investments Holdings LLC reduced its stake in Accenture PLC (NYSE:ACN) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 317,867 shares of the information technology services provider’s stock after selling 6,949 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.05% of Accenture worth $82,630,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Investors Research Corp lifted its stake in Accenture by 73.8% in the 3rd quarter. Investors Research Corp now owns 106 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 45 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Accenture by 132.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 107 shares of the information technology services provider’s stock worth $26,000 after buying an additional 61 shares during the last quarter. Triumph Capital Management purchased a new stake in Accenture in the third quarter worth approximately $26,000. Board of the Pension Protection Fund bought a new position in Accenture during the fourth quarter valued at approximately $27,000. Finally, Davis Capital Management bought a new stake in Accenture in the third quarter worth $28,000. 75.14% of the stock is currently owned by institutional investors.

Accenture Stock Up 0.3%

ACN stock opened at $198.13 on Wednesday. The firm has a market cap of $131.84 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 1.87 and a beta of 1.27. The business has a 50 day moving average of $222.18 and a 200 day moving average of $244.02. Accenture PLC has a twelve month low of $187.00 and a twelve month high of $325.71. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.16.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, March 19th. The information technology services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $18.04 billion during the quarter, compared to analyst estimates of $17.80 billion. Accenture had a net margin of 10.61% and a return on equity of 26.33%. Accenture’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $2.82 EPS. On average, research analysts forecast that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 9th will be paid a $1.63 dividend. The ex-dividend date is Thursday, April 9th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.3%. Accenture’s payout ratio is currently 53.40%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ACN shares. Wells Fargo & Company raised their target price on shares of Accenture from $251.00 to $275.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 14th. Argus dropped their price objective on Accenture from $370.00 to $335.00 and set a “buy” rating for the company in a report on Monday, December 29th. Guggenheim reduced their target price on Accenture from $275.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, March 20th. Truist Financial cut their price target on shares of Accenture from $317.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Finally, Jefferies Financial Group lifted their price objective on Accenture from $270.00 to $280.00 and gave the company a “hold” rating in a research report on Thursday, January 8th. Eighteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $274.88.

Insider Activity at Accenture

In related news, General Counsel Joel Unruch sold 1,332 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $275.00, for a total value of $366,300.00. Following the sale, the general counsel owned 28,207 shares in the company, valued at approximately $7,756,925. This trade represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Manish Sharma sold 2,731 shares of the company’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $288.13, for a total value of $786,883.03. Following the sale, the insider owned 7,057 shares of the company’s stock, valued at approximately $2,033,333.41. This trade represents a 27.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 22,088 shares of company stock valued at $5,970,434 over the last quarter. 0.02% of the stock is owned by company insiders.

Accenture Profile

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.