Mawer Investment Management Ltd. raised its stake in Accenture plc (NYSE:ACN) by 7.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,122,763 shares of the information technology services provider’s stock after acquiring an additional 149,261 shares during the period. Accenture accounts for about 3.3% of Mawer Investment Management Ltd.’s investment portfolio, making the stock its 9th biggest holding. Mawer Investment Management Ltd. owned about 0.32% of Accenture worth $554,487,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. LSV Asset Management acquired a new position in shares of Accenture during the third quarter worth approximately $723,000. MAI Capital Management boosted its position in shares of Accenture by 8.7% during the third quarter. MAI Capital Management now owns 59,154 shares of the information technology services provider’s stock worth $13,368,000 after buying an additional 4,728 shares during the period. Syntal Capital Partners LLC acquired a new position in shares of Accenture during the third quarter worth approximately $1,384,000. Prestige Wealth Management Group LLC boosted its position in shares of Accenture by 27.9% during the third quarter. Prestige Wealth Management Group LLC now owns 1,127 shares of the information technology services provider’s stock worth $254,000 after buying an additional 246 shares during the period. Finally, Confluence Wealth Management LLC boosted its position in shares of Accenture by 26.9% during the third quarter. Confluence Wealth Management LLC now owns 4,921 shares of the information technology services provider’s stock worth $947,000 after buying an additional 1,044 shares during the period. Institutional investors own 70.99% of the company’s stock.
In other news, CEO Julie Spellman Sweet sold 1,701 shares of the company’s stock in a transaction on Thursday, February 11th. The shares were sold at an average price of $259.44, for a total value of $441,307.44. Following the transaction, the chief executive officer now directly owns 22,294 shares of the company’s stock, valued at $5,783,955.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman David Rowland sold 7,966 shares of the company’s stock in a transaction on Wednesday, February 3rd. The stock was sold at an average price of $248.51, for a total transaction of $1,979,630.66. Insiders sold 38,915 shares of company stock worth $9,882,906 over the last ninety days. 0.07% of the stock is currently owned by company insiders.
Accenture (NYSE:ACN) last announced its earnings results on Wednesday, December 16th. The information technology services provider reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.12. Accenture had a net margin of 11.74% and a return on equity of 29.32%. The company had revenue of $11.76 billion for the quarter, compared to the consensus estimate of $11.36 billion. During the same period in the previous year, the business earned $2.09 EPS. The company’s revenue was up 3.5% on a year-over-year basis. Equities analysts anticipate that Accenture plc will post 8.22 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 12th. Stockholders of record on Thursday, January 14th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Wednesday, January 13th. Accenture’s dividend payout ratio (DPR) is presently 47.18%.
ACN has been the subject of several analyst reports. Barclays boosted their price objective on Accenture from $245.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, December 21st. Bank of America upgraded Accenture from an “underperform” rating to a “neutral” rating and set a $261.00 price objective for the company in a research report on Wednesday, January 6th. JPMorgan Chase & Co. upped their target price on Accenture from $252.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, December 11th. Morgan Stanley upped their target price on Accenture from $263.00 to $264.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 15th. Finally, Berenberg Bank upped their target price on Accenture from $258.00 to $285.00 and gave the stock a “buy” rating in a research report on Tuesday, February 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company. Accenture presently has an average rating of “Buy” and a consensus target price of $250.76.
Accenture Company 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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