TD Asset Management Inc. Sells 34,127 Shares of Accenture plc (NYSE:ACN)

TD Asset Management Inc. reduced its position in Accenture plc (NYSE:ACN) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 678,627 shares of the information technology services provider’s stock after selling 34,127 shares during the quarter. TD Asset Management Inc. owned 0.11% of Accenture worth $238,734,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Morse Asset Management Inc bought a new position in shares of Accenture during the third quarter valued at approximately $25,000. FPC Investment Advisory Inc. boosted its position in Accenture by 62.2% during the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 28 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Accenture in the 4th quarter valued at $30,000. POM Investment Strategies LLC raised its position in shares of Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 34 shares in the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in Accenture during the fourth quarter valued at about $34,000. 75.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ACN has been the subject of several analyst reports. Barclays decreased their price target on shares of Accenture from $415.00 to $390.00 and set an “overweight” rating for the company in a research report on Monday. Royal Bank of Canada lowered their target price on shares of Accenture from $399.00 to $392.00 and set an “outperform” rating for the company in a research note on Friday. StockNews.com downgraded Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Morgan Stanley dropped their target price on Accenture from $380.00 to $372.00 and set an “equal weight” rating on the stock in a research note on Monday, March 17th. Finally, Robert W. Baird upgraded Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price target for the company in a research note on Monday, March 17th. Eight equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.91.

Accenture Stock Up 0.6 %

Shares of ACN opened at $307.24 on Tuesday. The stock’s 50-day moving average price is $358.32 and its 200-day moving average price is $357.10. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $192.27 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 3.23 and a beta of 1.24. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.01. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business had revenue of $16.70 billion for the quarter, compared to analysts’ expectations of $16.64 billion. During the same quarter last year, the company earned $2.77 EPS. The business’s revenue was up 5.7% on a year-over-year basis. On average, sell-side analysts predict that Accenture plc will post 12.73 EPS for the current year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th will be paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Thursday, April 10th. Accenture’s payout ratio is currently 48.89%.

Insider Activity

In other Accenture news, CAO Melissa A. Burgum sold 232 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the sale, the chief accounting officer now directly owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. This trade represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the transaction, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,905 shares of company stock worth $8,181,753 in the last ninety days. Company 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.