Allspring Global Investments Holdings LLC Has $63.58 Million Stake in Accenture plc (NYSE:ACN)

Allspring Global Investments Holdings LLC grew its holdings in shares of Accenture plc (NYSE:ACN) by 13.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 183,446 shares of the information technology services provider’s stock after acquiring an additional 21,516 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Accenture were worth $63,584,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ACN. Pin Oak Investment Advisors Inc. grew its holdings in shares of Accenture by 8.2% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 357 shares of the information technology services provider’s stock worth $125,000 after purchasing an additional 27 shares during the last quarter. Brave Asset Management Inc. grew its holdings in shares of Accenture by 2.8% during the fourth quarter. Brave Asset Management Inc. now owns 1,028 shares of the information technology services provider’s stock worth $361,000 after purchasing an additional 28 shares during the last quarter. Addison Advisors LLC grew its holdings in shares of Accenture by 0.9% during the fourth quarter. Addison Advisors LLC now owns 3,181 shares of the information technology services provider’s stock worth $1,116,000 after purchasing an additional 28 shares during the last quarter. Searle & CO. grew its holdings in shares of Accenture by 3.6% during the fourth quarter. Searle & CO. now owns 803 shares of the information technology services provider’s stock worth $282,000 after purchasing an additional 28 shares during the last quarter. Finally, Sound View Wealth Advisors Group LLC grew its holdings in shares of Accenture by 2.1% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,363 shares of the information technology services provider’s stock worth $478,000 after purchasing an additional 28 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Activity

In other news, CFO Kathleen R. Mcclure sold 4,500 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $316.00, for a total transaction of $1,422,000.00. Following the completion of the sale, the chief financial officer now directly owns 42,781 shares of the company’s stock, valued at approximately $13,518,796. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $307.22, for a total value of $1,536,100.00. Following the completion of the sale, the insider now owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kathleen R. Mcclure sold 4,500 shares of Accenture stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $316.00, for a total value of $1,422,000.00. Following the completion of the sale, the chief financial officer now directly owns 42,781 shares of the company’s stock, valued at approximately $13,518,796. The disclosure for this sale can be found here. Insiders sold a total of 20,083 shares of company stock valued at $6,302,285 in the last ninety days. 0.07% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. BMO Capital Markets reduced their target price on Accenture from $375.00 to $350.00 and set a “market perform” rating on the stock in a report on Friday, June 21st. Royal Bank of Canada upped their target price on Accenture from $374.00 to $381.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Redburn Atlantic upped their target price on Accenture from $410.00 to $445.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. TD Cowen reduced their target price on Accenture from $294.00 to $293.00 and set a “hold” rating on the stock in a report on Friday, June 21st. Finally, Barclays reduced their target price on Accenture from $390.00 to $350.00 and set an “overweight” rating on the stock in a report on Monday, June 17th. Twelve equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $352.74.

Accenture Trading Up 0.4 %

Shares of NYSE:ACN opened at $303.83 on Wednesday. The stock’s fifty day simple moving average is $299.86 and its two-hundred day simple moving average is $335.76. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51. The stock has a market cap of $190.41 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 3.38 and a beta of 1.23.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share for the quarter, missing the consensus estimate of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The company had revenue of $16.47 billion for the quarter, compared to the consensus estimate of $16.55 billion. During the same quarter last year, the business posted $3.19 earnings per share. Accenture’s revenue was down .6% on a year-over-year basis. On average, sell-side analysts forecast that Accenture plc will post 11.95 earnings per share for the current fiscal year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th will be paid a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, July 11th. Accenture’s dividend payout ratio (DPR) is presently 47.25%.

About Accenture

Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.