9,395 Accenture PLC $ACN Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp trimmed its stake in shares of Accenture PLC (NYSE:ACN) by 4.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 210,068 shares of the information technology services provider’s stock after selling 9,395 shares during the period. Fifth Third Bancorp’s holdings in Accenture were worth $38,520,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. FDx Advisors Inc. bought a new stake in shares of Accenture during the third quarter worth $228,000. Advisor Resource Council lifted its stake in shares of Accenture by 12.7% during the third quarter. Advisor Resource Council now owns 3,789 shares of the information technology services provider’s stock valued at $739,000 after acquiring an additional 428 shares during the period. Ritholtz Wealth Management boosted its holdings in Accenture by 138.4% in the third quarter. Ritholtz Wealth Management now owns 37,674 shares of the information technology services provider’s stock valued at $6,908,000 after acquiring an additional 21,872 shares during the last quarter. Joel Isaacson & Co. LLC boosted its holdings in Accenture by 7.1% in the third quarter. Joel Isaacson & Co. LLC now owns 2,304 shares of the information technology services provider’s stock valued at $422,000 after acquiring an additional 153 shares during the last quarter. Finally, Jacobi Capital Management LLC increased its position in Accenture by 14.3% in the third quarter. Jacobi Capital Management LLC now owns 11,506 shares of the information technology services provider’s stock worth $2,110,000 after purchasing an additional 1,440 shares during the period. 75.14% of the stock is owned by institutional investors.

Insider Activity at Accenture

In related news, CAO Melissa A. Burgum sold 811 shares of the stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $250.00, for a total value of $202,750.00. Following the sale, the chief accounting officer directly owned 9,820 shares in the company, valued at $2,455,000. This trade represents a 7.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Catherine Hogan sold 1,320 shares of Accenture stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $200.00, for a total transaction of $264,000.00. Following the transaction, the chief operating officer directly owned 12,556 shares in the company, valued at $2,511,200. The trade was a 9.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 18,675 shares of company stock worth $4,747,563. 0.02% of the stock is owned by company insiders.

Accenture Stock Performance

ACN stock opened at $250.20 on Friday. Accenture PLC has a twelve month low of $118.15 and a twelve month high of $291.09. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. The company has a market cap of $147.88 billion, a P/E ratio of 18.45, a price-to-earnings-growth ratio of 1.95 and a beta of 1.01. The business’s fifty day moving average is $215.58 and its 200-day moving average is $191.35.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, October 1st. The information technology services provider reported $3.29 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.11. The business had revenue of $18.68 billion during the quarter, compared to analysts’ expectations of $18.03 billion. Accenture had a return on equity of 26.53% and a net margin of 11.28%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.03 earnings per share. Accenture has set its FY 2027 guidance at 14.390-14.810 EPS. Equities research analysts forecast that Accenture PLC will post 14.68 EPS for the current year.

Accenture Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 13th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 2.7%. This is an increase from Accenture’s previous quarterly dividend of $1.63. The ex-dividend date is Tuesday, October 13th. Accenture’s dividend payout ratio (DPR) is 50.44%.

Wall Street Analyst Weigh In

Several analysts have weighed in on ACN shares. TD Cowen boosted their price objective on Accenture from $193.00 to $201.00 and gave the stock a “hold” rating in a report on Thursday, October 15th. Guggenheim reaffirmed a “neutral” rating on shares of Accenture in a research note on Friday, October 2nd. Citigroup raised their target price on shares of Accenture from $135.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, August 24th. Wolfe Research lifted their price target on shares of Accenture from $165.00 to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 25th. Finally, BMO Capital Markets set a $235.00 price target on shares of Accenture in a research note on Friday, October 2nd. Ten investment analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Accenture presently has an average rating of “Hold” and an average target price of $221.07.

About Accenture

Accenture plc is a global professional services company that helps businesses, governments and other organizations solve operational and technology challenges. Its work includes strategy and management consulting, digital transformation, systems integration and the design, implementation and management of technology solutions. The company serves clients across a broad range of industries and geographies. Its services span cloud computing, data and artificial intelligence, cybersecurity, software and platforms, business process operations, and digital marketing and customer experience.