Accenture PLC $ACN Stock Sold by Provident Trust Co.

Provident Trust Co. trimmed its stake in shares of Accenture PLC (NYSE:ACN) by 14.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 841,302 shares of the information technology services provider’s stock after selling 146,231 shares during the period. Accenture comprises about 4.8% of Provident Trust Co.’s holdings, making the stock its 11th biggest position. Provident Trust Co. owned about 0.14% of Accenture worth $154,270,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ACN. Dogwood Wealth Management LLC grew its holdings in shares of Accenture by 147.1% in the 2nd quarter. Dogwood Wealth Management LLC now owns 215 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 128 shares during the period. IMG Wealth Management Inc. increased its stake in Accenture by 134.8% in the 1st quarter. IMG Wealth Management Inc. now owns 155 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 89 shares in the last quarter. Foresight Capital Management Advisors Inc. acquired a new position in Accenture during the third quarter worth $31,000. Arlington Trust Co LLC raised its holdings in Accenture by 110.4% during the second quarter. Arlington Trust Co LLC now owns 284 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 149 shares during the last quarter. Finally, S&G Foundation purchased a new stake in Accenture during the second quarter worth $37,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Price Performance

ACN stock opened at $257.93 on Monday. Accenture PLC has a 1 year low of $118.15 and a 1 year high of $291.09. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.43 and a current ratio of 1.43. The stock’s 50 day moving average price is $202.76 and its 200 day moving average price is $192.43. The firm has a market cap of $152.45 billion, a P/E ratio of 19.02, a PEG ratio of 1.98 and a beta of 1.01.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, October 1st. The information technology services provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.11. The company had revenue of $18.68 billion during the quarter, compared to the consensus estimate of $18.03 billion. Accenture had a return on equity of 26.53% and a net margin of 11.28%. Accenture’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.03 earnings per share. Accenture has set its FY 2027 guidance at 14.390-14.810 EPS. On average, sell-side analysts expect that Accenture PLC will post 14.68 earnings per share for the current fiscal year.

Accenture Increases Dividend

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

Analysts Set New Price Targets

Several analysts have weighed in on the company. Truist Financial upped their target price on Accenture from $150.00 to $220.00 and gave the company a “hold” rating in a report on Friday, October 2nd. Mizuho lifted their price target on Accenture from $226.00 to $241.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 6th. Stifel Nicolaus set a $242.00 price target on Accenture in a research note on Thursday, October 15th. JPMorgan Chase & Co. boosted their price objective on shares of Accenture from $179.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, September 25th. Finally, Guggenheim reissued a “neutral” rating on shares of Accenture in a research note on Friday, October 2nd. Ten research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company. According to MarketBeat, Accenture presently has a consensus rating of “Hold” and an average target price of $221.07.

Insider Buying and Selling at Accenture

In related news, CEO Ryoji Sekido sold 5,844 shares of Accenture stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $244.84, for a total transaction of $1,430,844.96. Following the completion of the sale, the chief executive officer owned 1,194 shares in the company, valued at approximately $292,338.96. This trade represents a 83.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paula Price bought 800 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The stock was purchased at an average cost of $249.81 per share, with a total value of $199,848.00. Following the purchase, the director directly owned 9,361 shares in the company, valued at $2,338,471.41. The trade was a 9.34% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have sold 8,675 shares of company stock valued at $2,047,563. 0.02% of the stock is owned by company insiders.

About Accenture

Accenture plc is a global professional services company that helps organizations transform their businesses through consulting, technology and managed services. Its work spans strategy and consulting, technology implementation, operations, and interactive customer experiences.

The company provides services in areas including cloud computing, artificial intelligence, cybersecurity, data and analytics, digital engineering, enterprise software, systems integration and business process outsourcing.