Accenture PLC (NYSE:ACN) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its position in Accenture PLC (NYSE:ACN) by 5.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 545,746 shares of the information technology services provider’s stock after selling 30,416 shares during the quarter. Accenture comprises 0.5% of Chevy Chase Trust Holdings LLC’s investment portfolio, making the stock its 28th biggest position. Chevy Chase Trust Holdings LLC owned 0.09% of Accenture worth $170,295,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ACN. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Accenture in the 4th quarter valued at approximately $30,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Accenture in the 4th quarter valued at approximately $30,000. Park Square Financial Group LLC purchased a new stake in shares of Accenture in the 4th quarter valued at approximately $31,000. Inlight Wealth Management LLC purchased a new stake in shares of Accenture in the 1st quarter valued at approximately $32,000. Finally, Promus Capital LLC purchased a new stake in shares of Accenture in the 4th quarter valued at approximately $34,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ACN has been the topic of a number of recent analyst reports. UBS Group reissued a “buy” rating and issued a $395.00 price objective (up from $390.00) on shares of Accenture in a research report on Thursday, May 22nd. Guggenheim dropped their price objective on shares of Accenture from $360.00 to $335.00 and set a “buy” rating on the stock in a research report on Monday. Morgan Stanley decreased their price target on shares of Accenture from $372.00 to $340.00 and set an “equal weight” rating for the company in a research note on Thursday, June 12th. Mizuho decreased their price target on shares of Accenture from $428.00 to $398.00 and set an “outperform” rating for the company in a research note on Wednesday, March 19th. Finally, Wall Street Zen cut shares of Accenture from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $374.00.

Accenture Trading Up 3.4%

ACN opened at $295.03 on Tuesday. The firm has a market capitalization of $184.79 billion, a P/E ratio of 23.49, a P/E/G ratio of 2.85 and a beta of 1.33. The firm’s 50 day moving average is $307.08 and its 200-day moving average is $333.04. Accenture PLC has a 52-week low of $273.19 and a 52-week high of $398.35. The company has a quick ratio of 1.48, a current ratio of 1.46 and a debt-to-equity ratio of 0.16.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.32 by $0.17. The company had revenue of $17.73 billion for the quarter, compared to analyst estimates of $17.26 billion. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.13 earnings per share. Analysts expect that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $5.92 annualized dividend and a yield of 2.01%. Accenture’s dividend payout ratio is presently 47.13%.

Insider Activity at Accenture

In other Accenture news, General Counsel Joel Unruch sold 3,563 shares of the business’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.78, for a total transaction of $1,003,982.14. Following the completion of the sale, the general counsel now owns 17,237 shares in the company, valued at $4,857,041.86. The trade was a 17.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Julie Spellman Sweet sold 2,284 shares of the business’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.63, for a total transaction of $643,242.92. Following the sale, the chief executive officer now owns 9,965 shares of the company’s stock, valued at approximately $2,806,442.95. The trade was a 18.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,516 shares of company stock valued at $2,507,366 over the last ninety days. Corporate insiders own 0.02% of the company’s stock.

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.