Trillium Asset Management LLC Reduces Stock Position in Accenture PLC (NYSE:ACN)

Trillium Asset Management LLC lowered its stake in Accenture PLC (NYSE:ACN) by 9.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,494 shares of the information technology services provider’s stock after selling 8,062 shares during the quarter. Trillium Asset Management LLC’s holdings in Accenture were worth $24,182,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mpwm Advisory Solutions LLC bought a new position in Accenture in the fourth quarter worth approximately $30,000. Park Square Financial Group LLC bought a new position in Accenture in the fourth quarter worth approximately $31,000. Inlight Wealth Management LLC bought a new position in Accenture in the first quarter worth approximately $32,000. Capital A Wealth Management LLC bought a new position in Accenture in the fourth quarter worth approximately $34,000. Finally, Navigoe LLC bought a new position in Accenture in the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insiders Place Their Bets

In other Accenture news, CEO Julie Spellman Sweet sold 2,251 shares of Accenture stock in a transaction on Friday, July 11th. The shares were sold at an average price of $282.45, for a total value of $635,794.95. Following the completion of the transaction, the chief executive officer directly owned 8,109 shares of the company’s stock, valued at $2,290,387.05. This trade represents a 21.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Angela Beatty sold 203 shares of Accenture stock in a transaction on Friday, July 11th. The stock was sold at an average price of $282.34, for a total transaction of $57,315.02. Following the completion of the transaction, the insider directly owned 5,249 shares of the company’s stock, valued at $1,482,002.66. The trade was a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,954 shares of company stock valued at $834,280 in the last three months. Corporate insiders own 0.02% of the company’s stock.

Accenture Stock Performance

Shares of NYSE ACN opened at $238.48 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. The company has a market cap of $149.37 billion, a P/E ratio of 18.99, a P/E/G ratio of 2.18 and a beta of 1.29. The firm’s fifty day moving average is $289.64 and its two-hundred day moving average is $314.40. Accenture PLC has a 52-week low of $236.96 and a 52-week high of $398.35.

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

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 10th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Thursday, July 10th. Accenture’s dividend payout ratio (DPR) is presently 47.13%.

Wall Street Analysts Forecast Growth

ACN has been the topic of several recent research reports. Mizuho set a $348.00 price target on shares of Accenture and gave the stock an “outperform” rating in a research report on Tuesday, June 24th. Barclays decreased their price target on shares of Accenture from $390.00 to $360.00 and set an “overweight” rating on the stock in a research report on Monday, June 23rd. Guggenheim decreased their price target on shares of Accenture from $360.00 to $335.00 and set a “buy” rating on the stock in a research report on Monday, June 23rd. Hsbc Global Res upgraded shares of Accenture to a “moderate sell” rating in a research report on Monday, July 28th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Accenture in a research report on Thursday, July 17th. They set a “hold” rating and a $290.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $360.21.

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.