Princeton Global Asset Management LLC Has $3.24 Million Holdings in Accenture plc (NYSE:ACN)


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Princeton Global Asset Management LLC lessened its holdings in shares of Accenture plc (NYSE:ACN) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,420 shares of the information technology services provider’s stock after selling 285 shares during the period. Accenture accounts for 1.1% of Princeton Global Asset Management LLC’s holdings, making the stock its 22nd biggest holding. Princeton Global Asset Management LLC’s holdings in Accenture were worth $3,244,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ACN. Great West Life Assurance Co. Can lifted its holdings in shares of Accenture by 94.7% during the third quarter. Great West Life Assurance Co. Can now owns 1,635,368 shares of the information technology services provider’s stock worth $187,665,000 after purchasing an additional 795,310 shares during the period. First Trust Advisors LP lifted its holdings in shares of Accenture by 74.3% during the third quarter. First Trust Advisors LP now owns 1,336,505 shares of the information technology services provider’s stock worth $302,037,000 after purchasing an additional 569,809 shares during the period. BlackRock Inc. lifted its holdings in shares of Accenture by 1.1% during the fourth quarter. BlackRock Inc. now owns 46,169,055 shares of the information technology services provider’s stock worth $12,059,818,000 after purchasing an additional 496,867 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Accenture during the third quarter worth $72,618,000. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Accenture by 87.8% during the third quarter. DekaBank Deutsche Girozentrale now owns 619,045 shares of the information technology services provider’s stock worth $139,816,000 after purchasing an additional 289,337 shares during the period. Institutional investors own 70.99% of the company’s stock.

In other news, Chairman David Rowland sold 6,357 shares of the business’s stock in a transaction dated Monday, December 21st. The stock was sold at an average price of $260.82, for a total transaction of $1,658,032.74. Following the completion of the transaction, the chairman now directly owns 5,362 shares of the company’s stock, valued at $1,398,516.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Richard P. Clark sold 3,115 shares of the business’s stock in a transaction dated Tuesday, January 19th. The stock was sold at an average price of $255.85, for a total value of $796,972.75. Following the transaction, the chief accounting officer now directly owns 18,705 shares of the company’s stock, valued at $4,785,674.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,915 shares of company stock valued at $9,882,906. 0.07% of the stock is currently owned by corporate insiders.

A number of equities analysts recently weighed in on ACN shares. Bank of America raised shares of Accenture from an “underperform” rating to a “neutral” rating and set a $261.00 target price for the company in a research note on Wednesday, January 6th. Piper Sandler lifted their price target on shares of Accenture from $210.00 to $282.00 and gave the company a “neutral” rating in a research note on Friday, December 18th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Accenture from $255.00 to $278.00 and gave the company a “buy” rating in a report on Friday, December 18th. BMO Capital Markets boosted their target price on shares of Accenture from $250.00 to $290.00 and gave the company a “market perform” rating in a research note on Friday, December 18th. They noted that the move was a valuation call. Finally, Berenberg Bank upped their target price on shares of Accenture from $258.00 to $285.00 and gave the stock a “buy” rating in a report on Tuesday, February 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $250.76.

ACN traded up $1.04 on Tuesday, hitting $253.67. The company had a trading volume of 26,688 shares, compared to its average volume of 1,850,512. The firm has a market cap of $167.14 billion, a P/E ratio of 31.11, a PEG ratio of 3.09 and a beta of 1.08. The company’s fifty day moving average price is $255.16 and its 200 day moving average price is $242.23. Accenture plc has a 1 year low of $137.15 and a 1 year high of $271.18.

Accenture (NYSE:ACN) last released its earnings results on Wednesday, December 16th. The information technology services provider reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.12. The company had revenue of $11.76 billion during the quarter, compared to the consensus estimate of $11.36 billion. Accenture had a return on equity of 29.32% and a net margin of 11.74%. Accenture’s revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.09 EPS. On average, equities research analysts predict that Accenture plc will post 8.22 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, February 12th. Shareholders of record on Thursday, January 14th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.39%. The ex-dividend date was Wednesday, January 13th. Accenture’s dividend payout ratio is currently 47.18%.

Accenture Profile

Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company also provides outsourcing services. It serves communications, media, high tech, software, and platform companies; banking, capital market, and insurance industries; and consumer goods, retail, travel services, industrial, and life science industries, as well as clients in health, public service, chemicals and natural resources, energy, and utilities sectors.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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