Accenture plc (NYSE:ACN) Shares Sold by TD Asset Management Inc.

TD Asset Management Inc. reduced its position in Accenture plc (NYSE:ACN) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 678,627 shares of the information technology services provider’s stock after selling 34,127 shares during the quarter. TD Asset Management Inc.’s holdings in Accenture were worth $238,734,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ACN. Kingsview Wealth Management LLC raised its holdings in Accenture by 2.3% in the 3rd quarter. Kingsview Wealth Management LLC now owns 10,787 shares of the information technology services provider’s stock valued at $3,813,000 after acquiring an additional 240 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Accenture by 17.6% in the third quarter. Larson Financial Group LLC now owns 1,114 shares of the information technology services provider’s stock valued at $394,000 after purchasing an additional 167 shares during the last quarter. Cahill Financial Advisors Inc. lifted its position in Accenture by 4.3% during the third quarter. Cahill Financial Advisors Inc. now owns 1,117 shares of the information technology services provider’s stock worth $395,000 after buying an additional 46 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in Accenture by 21.4% during the third quarter. Summit Trail Advisors LLC now owns 6,182 shares of the information technology services provider’s stock worth $2,185,000 after buying an additional 1,091 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC grew its holdings in Accenture by 1.4% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 262,276 shares of the information technology services provider’s stock valued at $92,709,000 after buying an additional 3,735 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ACN shares. Baird R W raised shares of Accenture from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. JPMorgan Chase & Co. boosted their target price on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Mizuho cut their price target on shares of Accenture from $428.00 to $398.00 and set an “outperform” rating for the company in a report on Wednesday, March 19th. Piper Sandler decreased their price objective on Accenture from $396.00 to $364.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Finally, Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective for the company in a research report on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $378.91.

Accenture Stock Performance

NYSE:ACN opened at $307.24 on Tuesday. The company has a market cap of $192.27 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. The company has a fifty day simple moving average of $358.32 and a two-hundred day simple moving average of $357.10.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.01. The company had revenue of $16.70 billion for the quarter, compared to the consensus estimate of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. Accenture’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.77 EPS. As a group, equities analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, April 10th. Accenture’s dividend payout ratio (DPR) is presently 48.89%.

Insider Activity

In other news, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the transaction, the chief executive officer now owns 11,858 shares in the company, valued at approximately $4,677,625.26. This represents a 42.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Melissa A. Burgum sold 232 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the sale, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,905 shares of company stock worth $8,181,753. 0.02% of the stock is currently owned by corporate insiders.

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.