Adirondack Trust Co. Reduces Stock Holdings in Accenture plc (NYSE:ACN)

Adirondack Trust Co. trimmed its holdings in shares of Accenture plc (NYSE:ACNFree Report) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,098 shares of the information technology services provider’s stock after selling 113 shares during the quarter. Adirondack Trust Co.’s holdings in Accenture were worth $1,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ACN. Norges Bank purchased a new stake in Accenture during the 4th quarter valued at about $2,061,490,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Accenture by 100.0% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,751,531 shares of the information technology services provider’s stock valued at $614,615,000 after buying an additional 875,723 shares during the period. Winslow Capital Management LLC acquired a new position in shares of Accenture in the 4th quarter valued at about $288,168,000. Generation Investment Management LLP acquired a new position in Accenture in the 4th quarter worth about $286,220,000. Finally, Public Employees Retirement Association of Colorado acquired a new position in Accenture in the 4th quarter worth about $263,421,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ACN has been the subject of a number of analyst reports. StockNews.com cut Accenture from a “buy” rating to a “hold” rating in a report on Saturday, April 27th. Barclays reduced their price target on Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a report on Monday. Piper Sandler Companies reduced their price target on Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a report on Monday. Citigroup reduced their target price on Accenture from $430.00 to $400.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Finally, Bank of America reduced their target price on Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $360.50.

Get Our Latest Analysis on Accenture

Accenture Stock Up 0.7 %

NYSE:ACN traded up $1.96 during trading hours on Tuesday, reaching $287.49. 1,279,235 shares of the stock were exchanged, compared to its average volume of 2,631,730. The business has a 50-day moving average of $303.42 and a two-hundred day moving average of $338.41. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51. The company has a market capitalization of $192.83 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 3.12 and a beta of 1.22.

Accenture (NYSE:ACNGet Free Report) last released its quarterly earnings results on Thursday, March 21st. The information technology services provider reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.11. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The company had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.85 billion. During the same period in the prior year, the firm earned $2.69 earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. On average, research analysts forecast that Accenture plc will post 12.08 EPS for the current fiscal year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, April 11th were issued a $1.29 dividend. The ex-dividend date was Wednesday, April 10th. This represents a $5.16 dividend on an annualized basis and a yield of 1.79%. Accenture’s dividend payout ratio (DPR) is presently 46.78%.

Insider Activity at Accenture

In related news, COO John F. Walsh sold 8,000 shares of Accenture stock in a transaction on Monday, March 25th. The stock was sold at an average price of $332.13, for a total value of $2,657,040.00. Following the completion of the transaction, the chief operating officer now directly owns 17,877 shares in the company, valued at $5,937,488.01. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Accenture news, COO John F. Walsh sold 8,000 shares of Accenture stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the completion of the sale, the chief operating officer now directly owns 17,877 shares of the company’s stock, valued at approximately $5,937,488.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $307.22, for a total value of $1,536,100.00. Following the sale, the insider now directly owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,083 shares of company stock worth $8,959,325. Company insiders own 0.07% of the company’s stock.

Accenture Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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