KLP Kapitalforvaltning AS Increases Holdings in Accenture PLC $ACN

KLP Kapitalforvaltning AS raised its stake in shares of Accenture PLC (NYSE:ACN) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 251,906 shares of the information technology services provider’s stock after buying an additional 2,700 shares during the period. KLP Kapitalforvaltning AS’s holdings in Accenture were worth $67,586,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ACN. Capital International Investors raised its stake in Accenture by 41.1% during the 3rd quarter. Capital International Investors now owns 17,128,134 shares of the information technology services provider’s stock valued at $4,223,839,000 after buying an additional 4,984,930 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of Accenture in the 3rd quarter worth $311,694,000. Massachusetts Financial Services Co. MA increased its stake in shares of Accenture by 12.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,147,796 shares of the information technology services provider’s stock worth $2,502,446,000 after purchasing an additional 1,148,970 shares in the last quarter. Capital World Investors purchased a new stake in shares of Accenture in the 3rd quarter worth $268,578,000. Finally, First Trust Advisors LP increased its stake in shares of Accenture by 85.9% in the 3rd quarter. First Trust Advisors LP now owns 2,041,945 shares of the information technology services provider’s stock worth $503,544,000 after purchasing an additional 943,371 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Trading Down 0.3%

Shares of Accenture stock opened at $194.54 on Wednesday. The firm has a market cap of $129.46 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.85 and a beta of 1.24. The business has a 50-day moving average price of $202.42 and a 200-day moving average price of $239.12. 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 PLC has a twelve month low of $177.50 and a twelve month high of $325.71.

Accenture (NYSE:ACN) last issued its quarterly earnings data 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. The firm had revenue of $18.04 billion during the quarter, compared to analyst estimates of $17.80 billion. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.82 earnings per share. Equities research analysts anticipate that Accenture PLC will post 13.87 EPS for the current fiscal year.

Accenture Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 9th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, April 9th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.4%. Accenture’s dividend payout ratio (DPR) is presently 53.40%.

Insider Activity

In related news, General Counsel Joel Unruch sold 1,026 shares of the stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $281.70, for a total value of $289,024.20. Following the completion of the transaction, the general counsel owned 27,181 shares of the company’s stock, valued at approximately $7,656,887.70. This trade represents a 3.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Melissa A. Burgum sold 3,588 shares of the stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $281.01, for a total transaction of $1,008,263.88. Following the completion of the transaction, the chief accounting officer directly owned 8,179 shares of the company’s stock, valued at approximately $2,298,380.79. The trade was a 30.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 15,331 shares of company stock valued at $4,048,871. 0.02% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ACN shares. UBS Group restated a “buy” rating on shares of Accenture in a research note on Tuesday, March 17th. 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. Argus reduced their price objective on Accenture from $370.00 to $335.00 and set a “buy” rating for the company in a research note on Monday, December 29th. Robert W. Baird reduced their price objective on Accenture from $330.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. Finally, Jefferies Financial Group upped their price objective on Accenture from $270.00 to $280.00 and gave the stock a “hold” rating in a research note on Thursday, January 8th. Seventeen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $274.50.

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.