Elo Mutual Pension Insurance Co Has $17.50 Million Stake in Accenture plc (NYSE:ACN)

Elo Mutual Pension Insurance Co raised its position in Accenture plc (NYSE:ACN) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 57,691 shares of the information technology services provider’s stock after buying an additional 402 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Accenture were worth $17,504,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Accenture by 1.1% during the first quarter. Vanguard Group Inc. now owns 59,718,732 shares of the information technology services provider’s stock worth $20,699,110,000 after purchasing an additional 635,349 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Accenture by 1.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,912,962 shares of the information technology services provider’s stock valued at $3,311,102,000 after acquiring an additional 131,544 shares during the period. Capital Research Global Investors grew its stake in Accenture by 2.0% in the first quarter. Capital Research Global Investors now owns 8,652,537 shares of the information technology services provider’s stock valued at $2,999,056,000 after acquiring an additional 173,107 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Accenture by 4.1% in the first quarter. Lazard Asset Management LLC now owns 3,797,028 shares of the information technology services provider’s stock valued at $1,316,086,000 after purchasing an additional 148,738 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Accenture by 6.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,044,810 shares of the information technology services provider’s stock valued at $1,055,362,000 after purchasing an additional 178,003 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors.

Accenture Stock Performance

Shares of ACN opened at $336.93 on Wednesday. The stock has a market capitalization of $211.15 billion, a price-to-earnings ratio of 30.85, a PEG ratio of 3.82 and a beta of 1.24. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51. The stock has a fifty day moving average of $329.94 and a 200-day moving average of $322.59.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.15 by ($0.02). The company had revenue of $16.47 billion for the quarter, compared to the consensus estimate of $16.55 billion. Accenture had a return on equity of 27.48% and a net margin of 10.79%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the business earned $3.19 earnings per share. As a group, equities analysts forecast that Accenture plc will post 11.95 EPS for the current year.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th were issued a dividend of $1.29 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $5.16 dividend on an annualized basis and a yield of 1.53%. Accenture’s payout ratio is currently 47.25%.

Analysts Set New Price Targets

ACN has been the topic of several analyst reports. Guggenheim reiterated a “buy” rating and set a $395.00 target price on shares of Accenture in a report on Friday, May 24th. Mizuho decreased their target price on Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. Citigroup upped their target price on Accenture from $350.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday. Wedbush decreased their target price on Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 12th. Finally, Jefferies Financial Group reduced their price target on Accenture from $340.00 to $275.00 and set a “hold” rating on the stock in a research report on Wednesday, June 5th. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $354.91.

Insiders Place Their Bets

In other news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total value of $1,649,100.00. Following the completion of the sale, the insider now directly owns 8,989 shares in the company, valued at approximately $2,964,751.98. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Accenture news, General Counsel Joel Unruch sold 8,145 shares of Accenture stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the transaction, the general counsel now owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the transaction, the insider now directly owns 8,989 shares in the company, valued at approximately $2,964,751.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,421 shares of company stock worth $6,912,635. Company insiders own 0.07% of the company’s stock.

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.