Sanibel Captiva Trust Company Inc. Has $70.80 Million Stock Holdings in Accenture plc (NYSE:ACN)

Sanibel Captiva Trust Company Inc. decreased its position in shares of Accenture plc (NYSE:ACN) by 2.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 226,896 shares of the information technology services provider’s stock after selling 5,727 shares during the period. Accenture comprises about 2.3% of Sanibel Captiva Trust Company Inc.’s holdings, making the stock its 7th largest holding. Sanibel Captiva Trust Company Inc.’s holdings in Accenture were worth $70,801,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in Accenture by 141.1% in the first quarter. SG Americas Securities LLC now owns 167,191 shares of the information technology services provider’s stock worth $52,170,000 after acquiring an additional 97,845 shares in the last quarter. Curated Wealth Partners LLC boosted its stake in Accenture by 18.4% in the 1st quarter. Curated Wealth Partners LLC now owns 990 shares of the information technology services provider’s stock worth $309,000 after purchasing an additional 154 shares in the last quarter. Avanza Fonder AB purchased a new stake in Accenture during the 1st quarter valued at about $13,222,000. Sonora Investment Management Group LLC increased its stake in Accenture by 3.2% during the 1st quarter. Sonora Investment Management Group LLC now owns 39,345 shares of the information technology services provider’s stock valued at $12,277,000 after purchasing an additional 1,229 shares in the last quarter. Finally, Accurate Wealth Management LLC raised its holdings in Accenture by 26.5% in the first quarter. Accurate Wealth Management LLC now owns 2,318 shares of the information technology services provider’s stock worth $663,000 after buying an additional 485 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Accenture Trading Down 0.3%

NYSE:ACN opened at $316.72 on Tuesday. The company has a market capitalization of $198.37 billion, a PE ratio of 26.57, a price-to-earnings-growth ratio of 3.23 and a beta of 1.33. Accenture plc has a 52-week low of $275.01 and a 52-week high of $398.35. The stock has a fifty day simple moving average of $303.16 and a 200-day simple moving average of $336.65. 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 (NYSE:ACN) last posted its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.01. The business had revenue of $16.70 billion during the quarter, compared to analyst estimates of $16.64 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.77 earnings per share. On average, equities research analysts expect that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Thursday, April 10th. Accenture’s payout ratio is currently 48.89%.

Insider Activity

In other news, CEO Julie Spellman Sweet sold 2,284 shares of the company’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.63, for a total transaction of $643,242.92. Following the completion of the transaction, the chief executive officer now owns 9,965 shares in the company, valued at approximately $2,806,442.95. This represents a 18.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John F. Walsh sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total value of $812,500.00. Following the completion of the sale, the chief operating officer now owns 15,882 shares of the company’s stock, valued at $5,161,650. This trade represents a 13.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,516 shares of company stock worth $2,507,366. 0.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ACN shares. BMO Capital Markets raised their price target on shares of Accenture to $355.00 and gave the company a “hold” rating in a research report on Wednesday, March 26th. Barclays decreased their price target on Accenture from $415.00 to $390.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Morgan Stanley reduced their price objective on Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a report on Monday, March 17th. Baird R W raised shares of Accenture from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Finally, Mizuho decreased their price objective 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. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $382.14.

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.