Accenture plc (NYSE:ACN) Stake Trimmed by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. lowered its stake in Accenture plc (NYSE:ACN) by 70.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,575 shares of the information technology services provider’s stock after selling 30,536 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Accenture were worth $3,815,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Pin Oak Investment Advisors Inc. grew its stake in Accenture by 8.2% during the 4th quarter. Pin Oak Investment Advisors Inc. now owns 357 shares of the information technology services provider’s stock valued at $125,000 after acquiring an additional 27 shares in the last quarter. Searle & CO. grew its stake in Accenture by 3.6% during the 4th quarter. Searle & CO. now owns 803 shares of the information technology services provider’s stock valued at $282,000 after acquiring an additional 28 shares in the last quarter. Sound View Wealth Advisors Group LLC grew its stake in Accenture by 2.1% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,363 shares of the information technology services provider’s stock valued at $478,000 after acquiring an additional 28 shares in the last quarter. IronBridge Private Wealth LLC grew its stake in Accenture by 2.3% during the 4th quarter. IronBridge Private Wealth LLC now owns 1,235 shares of the information technology services provider’s stock valued at $433,000 after acquiring an additional 28 shares in the last quarter. Finally, Certuity LLC lifted its holdings in shares of Accenture by 2.3% during the 4th quarter. Certuity LLC now owns 1,356 shares of the information technology services provider’s stock valued at $476,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Transactions at Accenture

In other news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total value of $1,649,100.00. Following the sale, the insider now owns 8,989 shares of the company’s stock, valued at approximately $2,964,751.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Accenture news, CFO Kathleen R. Mcclure sold 1,500 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $315.00, for a total transaction of $472,500.00. Following the sale, the chief financial officer now owns 38,570 shares of the company’s stock, valued at approximately $12,149,550. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ellyn Shook sold 5,000 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the sale, the insider now directly owns 8,989 shares in the company, valued at approximately $2,964,751.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,421 shares of company stock valued at $6,912,635. 0.07% of the stock is owned by insiders.

Accenture Price Performance

Shares of ACN traded up $5.75 on Thursday, reaching $343.14. 468,962 shares of the stock traded hands, compared to its average volume of 2,808,308. The firm has a market cap of $215.04 billion, a price-to-earnings ratio of 31.31, a P/E/G ratio of 3.66 and a beta of 1.23. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51. The stock’s 50-day moving average price is $317.60 and its 200-day moving average price is $325.51.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). The firm had revenue of $16.47 billion for the quarter, compared to the consensus estimate of $16.55 billion. Accenture had a net margin of 10.79% and a return on equity of 27.48%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.19 earnings per share. As a group, equities research analysts forecast that Accenture plc will post 11.95 earnings per share for the current fiscal year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th were issued a dividend of $1.29 per share. The ex-dividend date was Thursday, July 11th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.50%. Accenture’s payout ratio is presently 47.25%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ACN. Guggenheim reiterated a “buy” rating and set a $395.00 price target on shares of Accenture in a report on Friday, May 24th. Mizuho reduced their price target on Accenture from $398.00 to $350.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. BMO Capital Markets reduced their target price on Accenture from $375.00 to $350.00 and set a “market perform” rating for the company in a report on Friday, June 21st. Jefferies Financial Group reduced their target price on Accenture from $340.00 to $275.00 and set a “hold” rating for the company in a report on Wednesday, June 5th. Finally, Piper Sandler Companies reduced their target price on Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a report on Monday, June 17th. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Accenture presently has an average rating of “Moderate Buy” and an average target price of $352.33.

Accenture Company 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.