Tredje AP fonden Trims Stake in Accenture plc (NYSE:ACN)

Tredje AP fonden trimmed its position in shares of Accenture plc (NYSE:ACN) by 4.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 170,295 shares of the information technology services provider’s stock after selling 7,650 shares during the period. Tredje AP fonden’s holdings in Accenture were worth $51,669,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. TrinityPoint Wealth LLC increased its stake in Accenture by 3.6% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock worth $1,279,000 after buying an additional 125 shares during the period. Focus Financial Network Inc. ADV bought a new stake in Accenture during the 4th quarter valued at $4,594,000. New Mexico Educational Retirement Board grew its position in shares of Accenture by 11.9% during the 1st quarter. New Mexico Educational Retirement Board now owns 36,750 shares of the information technology services provider’s stock worth $12,393,000 after buying an additional 3,900 shares in the last quarter. Platform Technology Partners increased its stake in shares of Accenture by 7.0% during the fourth quarter. Platform Technology Partners now owns 1,996 shares of the information technology services provider’s stock valued at $733,000 after buying an additional 131 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Accenture by 13.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 183,446 shares of the information technology services provider’s stock worth $63,584,000 after acquiring an additional 21,516 shares during the period. Institutional investors own 75.14% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ACN. Susquehanna reduced their price target on shares of Accenture from $360.00 to $350.00 and set a “neutral” rating for the company in a report on Friday, June 21st. Bank of America lowered their target price on Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Stifel Nicolaus cut their price target on Accenture from $395.00 to $340.00 and set a “buy” rating on the stock in a report on Wednesday, June 12th. JPMorgan Chase & Co. raised their price objective on Accenture from $330.00 to $376.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Jefferies Financial Group decreased their price target on shares of Accenture from $340.00 to $275.00 and set a “hold” rating for the company in a research report on Wednesday, June 5th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $354.91.

Accenture Stock Down 4.9 %

Shares of Accenture stock opened at $336.93 on Wednesday. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51. The firm has a market cap of $211.15 billion, a PE ratio of 30.85, a P/E/G ratio of 3.82 and a beta of 1.24. The business has a 50-day moving average price of $329.94 and a 200 day moving average price of $322.59.

Accenture (NYSE:ACN) last released its quarterly earnings results 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). The company had revenue of $16.47 billion for the quarter, compared to analyst estimates 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 quarter last year, the company earned $3.19 EPS. On average, sell-side analysts expect that Accenture plc will post 11.95 EPS for the current year.

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th were issued a $1.29 dividend. The ex-dividend date 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 47.25%.

Insider Activity at Accenture

In other news, CFO Kathleen R. Mcclure sold 3,000 shares of Accenture stock in a transaction on Friday, July 12th. The stock was sold at an average price of $309.22, for a total transaction of $927,660.00. Following the transaction, the chief financial officer now owns 40,070 shares in the company, valued at approximately $12,390,445.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Kathleen R. Mcclure sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.22, for a total transaction of $927,660.00. Following the completion of the sale, the chief financial officer now directly owns 40,070 shares in the company, valued at $12,390,445.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 3,776 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the completion of the transaction, the chief executive officer now owns 11,819 shares in the company, valued at $3,652,661.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,421 shares of company stock valued at $6,912,635. 0.07% of the stock is currently owned by insiders.

Accenture Profile

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.