Truepoint Inc. Trims Stock Position in Accenture plc (NYSE:ACN)

Truepoint Inc. lowered its stake in Accenture plc (NYSE:ACN) by 28.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,387 shares of the information technology services provider’s stock after selling 1,327 shares during the period. Truepoint Inc.’s holdings in Accenture were worth $1,028,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Unique Wealth Strategies LLC acquired a new stake in Accenture in the second quarter valued at about $26,000. Annapolis Financial Services LLC lifted its holdings in shares of Accenture by 507.7% in the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 66 shares during the period. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Accenture in the fourth quarter valued at approximately $29,000. Atwood & Palmer Inc. grew its holdings in Accenture by 214.8% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 58 shares during the period. Finally, Grayhawk Investment Strategies Inc. purchased a new position in Accenture in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling

In related news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the completion of the transaction, the insider now owns 8,989 shares of the company’s stock, valued at $2,964,751.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, General Counsel Joel Unruch sold 8,145 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the completion of the sale, the general counsel now owns 22,849 shares in the company, valued at approximately $7,564,161.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the completion of the transaction, the insider now owns 8,989 shares in the company, valued at approximately $2,964,751.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,421 shares of company stock valued at $6,912,635. Insiders own 0.07% of the company’s stock.

Accenture Stock Performance

Shares of ACN opened at $341.93 on Friday. The company has a market capitalization of $214.29 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 3.81 and a beta of 1.24. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51. The company’s 50 day simple moving average is $322.91 and its 200 day simple moving average is $324.78.

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

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th were paid a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Thursday, July 11th. Accenture’s dividend payout ratio is currently 47.25%.

Analysts Set New Price Targets

ACN has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of Accenture from a “buy” rating to a “hold” rating and decreased their target price for the stock from $409.00 to $295.00 in a research report on Wednesday, May 15th. Bank of America lowered their target price on shares of Accenture from $419.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Jefferies Financial Group reduced their price target on shares of Accenture from $340.00 to $275.00 and set a “hold” rating for the company in a research report on Wednesday, June 5th. Susquehanna lowered their price target on Accenture from $360.00 to $350.00 and set a “neutral” rating on the stock in a report on Friday, June 21st. Finally, UBS Group raised Accenture from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a report on Friday, July 19th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus 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.