Accenture plc (NYSE:ACN) to Issue $0.97 Quarterly Dividend

Accenture plc (NYSE:ACNGet Rating) declared a quarterly dividend on Thursday, June 23rd, RTT News reports. Investors of record on Thursday, July 14th will be paid a dividend of 0.97 per share by the information technology services provider on Monday, August 15th. This represents a $3.88 dividend on an annualized basis and a yield of 1.35%.

Accenture has increased its dividend by an average of 9.9% per year over the last three years and has raised its dividend every year for the last 18 years. Accenture has a dividend payout ratio of 32.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Accenture to earn $11.97 per share next year, which means the company should continue to be able to cover its $3.88 annual dividend with an expected future payout ratio of 32.4%.

Shares of NYSE ACN opened at $286.40 on Thursday. The company has a 50 day simple moving average of $295.63 and a 200 day simple moving average of $330.28. The firm has a market cap of $181.55 billion, a PE ratio of 28.87, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. Accenture has a 1 year low of $268.17 and a 1 year high of $417.37.

A number of brokerages recently issued reports on ACN. StockNews.com initiated coverage on shares of Accenture in a report on Thursday, March 31st. They issued a “buy” rating for the company. Piper Sandler lowered their price target on shares of Accenture from $433.00 to $368.00 and set a “neutral” rating for the company in a report on Friday, March 18th. Stifel Nicolaus lowered their price target on shares of Accenture from $440.00 to $368.00 in a report on Thursday, March 17th. Morgan Stanley lowered their price target on shares of Accenture from $480.00 to $390.00 and set an “overweight” rating for the company in a report on Tuesday, June 14th. Finally, Royal Bank of Canada raised their price target on shares of Accenture from $430.00 to $435.00 and gave the stock an “outperform” rating in a report on Friday, March 18th. Six equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $375.85.

In other news, insider Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction on Monday, April 18th. The stock was sold at an average price of $315.13, for a total transaction of $1,969,562.50. Following the sale, the insider now directly owns 165,866 shares in the company, valued at approximately $52,269,352.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Julie Spellman Sweet sold 3,287 shares of Accenture stock in a transaction on Monday, April 18th. The stock was sold at an average price of $315.22, for a total value of $1,036,128.14. Following the sale, the chief executive officer now owns 19,836 shares in the company, valued at $6,252,703.92. The disclosure for this sale can be found here. In the last three months, insiders sold 10,757 shares of company stock valued at $3,386,681. 0.07% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACN. Fund Management at Engine No. 1 LLC purchased a new position in Accenture during the 1st quarter valued at about $1,805,000. Cadence Bank grew its holdings in Accenture by 0.7% during the 1st quarter. Cadence Bank now owns 4,999 shares of the information technology services provider’s stock valued at $1,686,000 after buying an additional 36 shares in the last quarter. Evergreen Capital Management LLC grew its holdings in Accenture by 3.2% during the 1st quarter. Evergreen Capital Management LLC now owns 4,383 shares of the information technology services provider’s stock valued at $1,478,000 after buying an additional 135 shares in the last quarter. Signet Financial Management LLC grew its holdings in Accenture by 500.2% during the 1st quarter. Signet Financial Management LLC now owns 3,878 shares of the information technology services provider’s stock valued at $1,308,000 after buying an additional 4,847 shares in the last quarter. Finally, PDT Partners LLC purchased a new position in Accenture during the 1st quarter valued at about $1,045,000. 74.46% of the stock is currently owned by institutional investors and hedge funds.

About Accenture (Get Rating)

Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.

Further Reading

Dividend History for Accenture (NYSE:ACN)

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