Financiere des Professionnels Fonds d investissement inc. Has $19.48 Million Holdings in Accenture PLC $ACN

Financiere des Professionnels Fonds d investissement inc. lifted its holdings in Accenture PLC (NYSE:ACN) by 29.1% during the 4th quarter, HoldingsChannel reports. The fund owned 72,620 shares of the information technology services provider’s stock after acquiring an additional 16,385 shares during the quarter. Accenture accounts for approximately 1.1% of Financiere des Professionnels Fonds d investissement inc.’s holdings, making the stock its 21st largest position. Financiere des Professionnels Fonds d investissement inc.’s holdings in Accenture were worth $19,484,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Weitz Investment Management Inc. boosted its position in Accenture by 28.8% during the 3rd quarter. Weitz Investment Management Inc. now owns 160,550 shares of the information technology services provider’s stock worth $39,592,000 after buying an additional 35,900 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Accenture by 27.7% during the fourth quarter. Teacher Retirement System of Texas now owns 282,340 shares of the information technology services provider’s stock worth $75,752,000 after purchasing an additional 61,314 shares during the period. Public Sector Pension Investment Board raised its holdings in Accenture by 180.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 404,680 shares of the information technology services provider’s stock worth $99,794,000 after purchasing an additional 260,357 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in Accenture by 197.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 141,484 shares of the information technology services provider’s stock worth $37,960,000 after purchasing an additional 93,880 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Accenture by 36.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 557,516 shares of the information technology services provider’s stock worth $149,582,000 after purchasing an additional 149,357 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Atsushi Egawa sold 4,872 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $177.14, for a total value of $863,026.08. Following the completion of the sale, the chief executive officer owned 12,802 shares in the company, valued at $2,267,746.28. This represents a 27.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is currently owned by insiders.

Accenture Stock Performance

Shares of ACN stock opened at $170.76 on Thursday. The firm has a market capitalization of $113.63 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 1.64 and a beta of 1.08. Accenture PLC has a 12 month low of $155.82 and a 12 month high of $321.77. The firm has a fifty day simple moving average of $182.94 and a two-hundred day simple moving average of $222.79. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16.

Accenture (NYSE:ACN) last posted its earnings results on Friday, March 20th. The information technology services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The company had revenue of $18.04 billion for the quarter, compared to analyst estimates of $17.80 billion. During the same quarter last year, the company earned $2.82 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts forecast that Accenture PLC will post 13.87 EPS for the current fiscal year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 9th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Thursday, April 9th. Accenture’s dividend payout ratio (DPR) is currently 53.40%.

Wall Street Analyst Weigh In

ACN has been the subject of several analyst reports. Mizuho lowered their price target on shares of Accenture from $309.00 to $280.00 and set an “outperform” rating for the company in a report on Monday, March 23rd. HSBC lowered their price objective on shares of Accenture from $220.00 to $210.00 and set a “hold” rating for the company in a research note on Tuesday, April 14th. Citigroup reduced their price objective on Accenture from $215.00 to $195.00 and set a “neutral” rating for the company in a research note on Monday, June 1st. Truist Financial cut Accenture from a “buy” rating to a “hold” rating and reduced their price objective for the company from $260.00 to $210.00 in a research note on Monday, June 1st. Finally, Guggenheim reduced their price objective on Accenture from $275.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, March 20th. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Accenture presently has an average rating of “Moderate Buy” and a consensus price target of $260.81.

Accenture Company 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.