Dec 19, 2023, 4:31 am EST
Stock futures traded flat Tuesday, a day after the S&P 500 finished up 0.5% and moved closer to its all-time. The broad market index stands just 1.2% below its record of 4,796.56 reached in early January 2022.
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Osaic Holdings Inc. grew its position in shares of Accenture plc (NYSE:ACN – Free Report) by 12.6% during the second quarter, Holdings Channel reports. The institutional investor owned 262,204 shares of the information technology services provider’s stock after purchasing an additional 29,421 shares during the quarter. Osaic Holdings Inc.’s holdings in Accenture were worth $80,980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Accenture by 1.3% during the 1st quarter. BlackRock Inc. now owns 48,035,644 shares of the information technology services provider’s stock valued at $13,729,067,000 after purchasing an additional 634,462 shares during the period. State Street Corp raised its stake in shares of Accenture by 0.7% during the 2nd quarter. State Street Corp now owns 26,644,296 shares of the information technology services provider’s stock valued at $8,221,897,000 after purchasing an additional 190,412 shares during the period. Morgan Stanley increased its stake in Accenture by 14.9% in the 4th quarter. Morgan Stanley now owns 16,642,841 shares of the information technology services provider’s stock worth $4,440,976,000 after acquiring an additional 2,163,582 shares during the last quarter. Geode Capital Management LLC increased its stake in Accenture by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 11,816,701 shares of the information technology services provider’s stock worth $3,636,842,000 after acquiring an additional 353,521 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Accenture by 21.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,535,663 shares of the information technology services provider’s stock worth $3,297,009,000 after acquiring an additional 2,060,646 shares during the last quarter. 70.42% of the stock is currently owned by institutional investors.
A number of brokerages have weighed in on ACN. Royal Bank of Canada restated an “outperform” rating and issued a $340.00 target price on shares of Accenture in a research note on Friday, September 29th. Barclays upped their target price on Accenture from $340.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, September 11th. BMO Capital Markets decreased their target price on Accenture from $360.00 to $350.00 in a research note on Friday, September 29th. Robert W. Baird decreased their target price on Accenture from $332.00 to $322.00 and set a “neutral” rating on the stock in a research note on Friday, September 29th. Finally, TD Cowen reduced their price objective on Accenture from $312.00 to $300.00 and set a “market perform” rating on the stock in a research report on Friday, September 29th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $337.26.
View Our Latest Stock Report on Accenture
In related news, CEO Julie Spellman Sweet sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $291.41, for a total transaction of $2,622,690.00. Following the completion of the transaction, the chief executive officer now owns 35,830 shares of the company’s stock, valued at approximately $10,441,220.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Julie Spellman Sweet sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $291.41, for a total transaction of $2,622,690.00. Following the completion of the transaction, the chief executive officer now owns 35,830 shares of the company’s stock, valued at approximately $10,441,220.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ellyn Shook sold 5,250 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $298.48, for a total value of $1,567,020.00. Following the transaction, the insider now directly owns 20,265 shares of the company’s stock, valued at approximately $6,048,697.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,334 shares of company stock valued at $10,939,027. Corporate insiders own 0.08% of the company’s stock.
Shares of ACN stock opened at $343.65 on Thursday. The stock has a market capitalization of $215.79 billion, a PE ratio of 31.91, a P/E/G ratio of 3.11 and a beta of 1.23. Accenture plc has a 1-year low of $242.80 and a 1-year high of $345.20. The business has a 50-day moving average of $317.95 and a 200 day moving average of $314.99.
Accenture (NYSE:ACN – Get Free Report) last released its quarterly earnings data on Thursday, September 28th. The information technology services provider reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.06. Accenture had a return on equity of 29.74% and a net margin of 10.72%. The business had revenue of $15.99 billion during the quarter, compared to analysts’ expectations of $16.07 billion. During the same quarter last year, the business posted $2.60 EPS. The business’s revenue was up 3.6% on a year-over-year basis. Analysts anticipate that Accenture plc will post 12.2 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Thursday, October 12th were given a $1.29 dividend. The ex-dividend date was Wednesday, October 11th. This represents a $5.16 annualized dividend and a dividend yield of 1.50%. This is a positive change from Accenture’s previous quarterly dividend of $1.12. Accenture’s dividend payout ratio is currently 47.91%.
Accenture announced that its board has approved a share buyback program on Thursday, September 28th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the information technology services provider to buy up to 2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
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.
Want to see what other hedge funds are holding ACN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Accenture plc (NYSE:ACN – Free Report).
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posted better-than-expected results for its latest quarter and lifted its full-year outlook.
Stock futures were falling following three straight days of losses for Wall Street. Federal Reserve Chairman Jerome Powell again will be delivering testimony before Congress. His comments on Wednesday that the central bank likely would be raising rates further this year pushed markets lower.
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Oracle Stock Extends Rally After Earnings Top Estimates
CONCORD, N.C., December 15, 2017 (Newswire.com)
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Hard work pays off – especially for the Wolfpack’s senior defensive end Bradley Chubb. On Saturday, Dec. 4, the Football Writers Association of America and the Charlotte Touchdown Club named the 6-foot-4, 275-pound gladiator the 2017 Bronko Nagurski Trophy winner at the gala banquet in Charlotte. The event was viewed by the masses during the national broadcast presented by ACN on Dec. 7.
Given to the NCAA’s top defensive player, the Bronko Nagurski Trophy is an award of high honor and prestige – and many of its recipients have the accolades to prove it. “It’s a little surreal moment just knowing the people who won this award in the past, but it’s definitely an honor,” Chubb said.
We are very proud to support the Charlotte Touchdown Club. It is such an honor and privilege to continue on as the presenting sponsor of the Bronko Nagurski Awards Banquet and an organization that not only celebrates excellence in college football, but one that supports area athletics for middle and high schools students. Like Bradley Chubb and the four trophy finalists, ACN employees embody the qualities of hard work, determination and dedication to excellence.
Greg Provenzano, ACN President and Co-Founder
With 23 1/2 tackles for loss, Chubb reigns as the FBS leader this season. He played 87 percent of the snaps against conference competitors this season and is a three-time ACC Defensive Lineman of the Week. Chubb set North Carolina State University career records for tackles (60) and sacks (26) and is a finalist for the Bednarik and Hendricks Awards. In addition to this, he has also been named the ACC’s 2017 Defensive Player of the Year.
“This is a proud moment for me as a head coach, for our entire team and for NC State University,” said NC State head coach Dave Doeren. “Bradley is everything that’s right about college football and it’s so great to see his hard work and dedication be rewarded on a national stage.”
While Wolfpack linebacker Levar Fisher was a finalist in 2000, Bradley Chubb makes history as the first of North Carolina State to actually win the Bronko Nagurski Trophy. Bradley won the Bronko Nagurski Trophy over Alabama safety Minkah Fitzpatrick, Iowa middle linebacker Josey Jewell, Houston defensive tackle Ed Oliver and Georgia outside linebacker Roquan Smith. This dynamic student-athlete is now among the ranks of other esteemed defensive players such as Jonathan Allen of Alabama, Temple’s Tyler Matakevich and Arizona’s Scooby Wright III.
“We are very proud to support the Charlotte Touchdown Club,” said ACN President and Co-Founder Greg Provenzano. “It is such an honor and privilege to continue on as the presenting sponsor of the Bronko Nagurski Awards Banquet and an organization that not only celebrates excellence in college football, but one that supports area athletics for middle and high schools students. Like Bradley Chubb and the four trophy finalists, ACN employees embody the qualities of hard work, determination and dedication to excellence.”
The FWAA and the Charlotte Touchdown Club also presented the Bronko Nagurski Legends Award by Florida East Coast Railway. This year’s recipient was Notre Dame’s Ross Browner, a member of the College Football Hall of Fame.
The awards are named after legendary Bronko Nagurski, who dominated college football at the University of Minnesota as a bruising fullback and defensive tackle from 1927 – 1929.
The Bronko Nagurski Trophy is a member of the National College Football Awards Association (NCFAA) which encompasses the most prestigious awards in college football. Founded in 1997, the NCFAA offers 24 awards and boasts over 800 recipients, dating to 1935. For more information, visit the association’s website, www.NCFAA.org.
About ACN
ACN, Inc. founded in 1993, ACN is the world’s largest direct seller of telecommunications, energy and essential services for residential and business customers. ACN provides the services people need and use every day including phone service, high-speed internet, wireless, television, security and automation, computer support, payment processing and natural gas and electricity. ACN operates in 25 countries with offices located throughout North America, Europe, Latin America, Asia and the Pacific. For more information, visit myacn.com. For information on ACN’s home-based business opportunity, visit acninc.com.
About the Football Writers Association of America
The Football Writers Association of America, founded in 1941, consists of 1,300 men and women who cover college football. The membership includes journalists, broadcasters and publicists, as well as key executives in all the areas that involve the game. The FWAA works to govern areas that include game-day operations, major awards and its annual All-America team. For more information about the FWAA and its award programs, contact Steve Richardson at tiger@fwaa.com.
About the Charlotte Touchdown Club
The Charlotte Touchdown Club is a nonprofit organization founded in 1991 for the purpose of promoting high school, collegiate, and professional football in the Charlotte, North Carolina, region. The club’s activities and services focus community attention on the outstanding citizenship, scholarship, sportsmanship, and leadership of area athletes and coaches. Since 1991, the club has raised more than $2,000,000 to benefit area high school and collegiate athletics. For more information, contact John Rocco (704-347-2918 or jrocco@touchdownclub.com). The official website of the Charlotte Touchdown Club is touchdownclub.com.
About Florida East Coast Railway
Florida East Coast Railway is a regional freight railroad that extends along a 351-mile corridor between Jacksonville, Florida, and Miami, Florida, with exclusive rail access to the Port of Palm Beach, Port Everglades (Ft. Lauderdale) and the Port of Miami. For more information, visit fecrwy.com.
About the Bronko Nagurski Trophy
The Bronko Nagurski Trophy is presented annually by the Charlotte Touchdown Club and Football Writers Association of America to the nation’s most outstanding NCAA defensive football player at the Bronko Nagurski Banquet in Charlotte, North Carolina. All proceeds benefit the Charlotte Touchdown Club Scholarship Fund. For more information visit www.touchdownclub.com.
Source: ACN, Charlotte Touchdown Club, Florida East Coast Railway