Trium Capital LLP Sells 301 Shares of Accenture plc (NYSE:ACN)

Trium Capital LLP lessened its stake in Accenture plc (NYSE:ACN) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,597 shares of the information technology services provider’s stock after selling 301 shares during the quarter. Accenture accounts for about 1.6% of Trium Capital LLP’s holdings, making the stock its 8th biggest position. Trium Capital LLP’s holdings in Accenture were worth $5,513,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Swedbank AB acquired a new position in shares of Accenture during the 1st quarter worth $820,912,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Accenture by 100.0% in the fourth 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 acquiring an additional 875,723 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Accenture by 44.7% during the 2nd quarter. Clearbridge Investments LLC now owns 2,709,989 shares of the information technology services provider’s stock worth $822,238,000 after purchasing an additional 837,677 shares during the period. 1832 Asset Management L.P. raised its holdings in Accenture by 251.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 995,896 shares of the information technology services provider’s stock valued at $302,165,000 after acquiring an additional 712,400 shares in the last quarter. Finally, Capital International Investors lifted its position in Accenture by 196.5% in the first quarter. Capital International Investors now owns 988,094 shares of the information technology services provider’s stock worth $342,483,000 after purchasing an additional 654,807 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Royal Bank of Canada lifted their price objective on Accenture from $377.00 to $389.00 and gave the company an “outperform” rating in a report on Friday, September 27th. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a research note on Friday, September 27th. TD Cowen raised shares of Accenture from a “hold” rating to a “buy” rating and lifted their target price for the stock from $321.00 to $400.00 in a report on Monday, September 30th. Wedbush cut their price target on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 12th. Finally, Barclays boosted their target price on Accenture from $350.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Accenture has an average rating of “Moderate Buy” and a consensus price target of $371.18.

Insider Buying and Selling at Accenture

In other news, CEO Julie Spellman Sweet sold 3,776 shares of Accenture stock in a transaction on Friday, July 12th. The stock was sold at an average price of $309.05, for a total value of $1,166,972.80. Following the transaction, the chief executive officer now owns 11,819 shares in the company, valued at approximately $3,652,661.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Accenture news, CFO Kathleen R. Mcclure sold 3,000 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.22, for a total transaction of $927,660.00. Following the sale, the chief financial officer now owns 40,070 shares of the company’s stock, valued at approximately $12,390,445.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Julie Spellman Sweet sold 3,776 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $309.05, for a total value of $1,166,972.80. Following the completion of the transaction, the chief executive officer now directly owns 11,819 shares of the company’s stock, valued at approximately $3,652,661.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,421 shares of company stock worth $6,912,635 over the last three months. Corporate insiders own 0.07% of the company’s stock.

Accenture Price Performance

Shares of ACN stock opened at $360.01 on Tuesday. The company has a fifty day moving average price of $336.64 and a two-hundred day moving average price of $319.71. The stock has a market cap of $225.62 billion, a P/E ratio of 32.66, a P/E/G ratio of 3.69 and a beta of 1.25. Accenture plc has a one year low of $278.69 and a one year high of $387.51.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.01. Accenture had a return on equity of 27.48% and a net margin of 10.79%. The business had revenue of $16.41 billion during the quarter, compared to analysts’ expectations of $16.37 billion. During the same period in the previous year, the company posted $2.71 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Accenture plc will post 11.95 EPS for the current fiscal year.

Accenture Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 10th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, October 10th. This is an increase from Accenture’s previous quarterly dividend of $1.29. Accenture’s dividend payout ratio is 54.21%.

Accenture declared that its Board of Directors has initiated a stock buyback plan on Thursday, September 26th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the information technology services provider to purchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Accenture 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.