1832 Asset Management L.P. Trims Position in Accenture PLC $ACN

1832 Asset Management L.P. lowered its holdings in Accenture PLC (NYSE:ACN) by 59.7% in the second quarter, Holdings Channel.com reports. The firm owned 279,368 shares of the information technology services provider’s stock after selling 413,201 shares during the period. 1832 Asset Management L.P.’s holdings in Accenture were worth $83,500,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of Accenture during the 1st quarter worth about $31,000. RMG Wealth Management LLC purchased a new position in Accenture during the second quarter worth approximately $33,000. WPG Advisers LLC acquired a new position in shares of Accenture in the 1st quarter valued at $42,000. Traub Capital Management LLC purchased a new stake in shares of Accenture during the 2nd quarter valued at $45,000. Finally, Nova Wealth Management Inc. acquired a new stake in shares of Accenture during the 1st quarter worth $49,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ACN shares. TD Cowen lowered their price target on Accenture from $313.00 to $295.00 and set a “buy” rating for the company in a research report on Friday, September 26th. UBS Group decreased their target price on Accenture from $363.00 to $315.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. Royal Bank Of Canada dropped their target price on shares of Accenture from $372.00 to $285.00 and set an “outperform” rating for the company in a research report on Friday, September 26th. Robert W. Baird reduced their price target on shares of Accenture from $350.00 to $330.00 and set an “outperform” rating on the stock in a research report on Friday, September 26th. Finally, Wall Street Zen lowered shares of Accenture from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Accenture has an average rating of “Moderate Buy” and an average target price of $294.25.

Accenture Stock Up 4.6%

NYSE ACN opened at $273.15 on Thursday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.16. Accenture PLC has a fifty-two week low of $229.40 and a fifty-two week high of $398.35. The business has a 50 day moving average price of $246.72 and a two-hundred day moving average price of $267.45. The stock has a market cap of $179.86 billion, a PE ratio of 22.48, a P/E/G ratio of 2.44 and a beta of 1.26.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, September 25th. The information technology services provider reported $3.03 EPS for the quarter, topping analysts’ consensus estimates of $2.98 by $0.05. The business had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $17.34 billion. Accenture had a net margin of 11.02% and a return on equity of 26.45%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.66 earnings per share. Accenture has set its FY 2026 guidance at 13.190-13.570 EPS. As a group, sell-side analysts predict that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 10th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 2.4%. This is a positive change from Accenture’s previous quarterly dividend of $1.48. The ex-dividend date was Friday, October 10th. Accenture’s payout ratio is presently 53.66%.

Insider Activity at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $249.57, for a total transaction of $2,246,130.00. Following the completion of the sale, the chief executive officer owned 23,516 shares in the company, valued at $5,868,888.12. This trade represents a 27.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Manish Sharma sold 6,902 shares of the company’s stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $250.01, for a total value of $1,725,569.02. Following the completion of the transaction, the insider directly owned 1,860 shares in the company, valued at approximately $465,018.60. The trade was a 78.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 33,319 shares of company stock valued at $8,335,225. Insiders own 0.02% of the company’s stock.

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.