13,753 Accenture PLC $ACN Shares Sold by Park National Corp OH

Key Points

• Park National Corp OH cut its Accenture stake by 6.2%, selling 13,753 shares and retaining 206,295 shares valued at approximately $37.8 million. Institutional investors and hedge funds collectively own 75.14% of Accenture.
• Accenture reported quarterly EPS of $3.29 and revenue of $18.68 billion, exceeding analyst estimates, while revenue increased 6.2% year over year. The company also authorized a $2 billion share buyback and raised its quarterly dividend to $1.71 per share.
• Analyst sentiment remains mixed, with an average rating of “Hold” and an average price target of $218.59. Shares recently traded at $194.25, below the average target but well below the 52-week high of $291.09.

Park National Corp OH reduced its holdings in Accenture PLC (NYSE:ACN - Free Report) by 6.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 206,295 shares of the information technology services provider's stock after selling 13,753 shares during the period. Accenture accounts for about 1.0% of Park National Corp OH's portfolio, making the stock its 24th largest holding. Park National Corp OH's holdings in Accenture were worth $37,828,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. State Street Corp grew its holdings in Accenture by 0.5% during the fourth quarter. State Street Corp now owns 28,264,675 shares of the information technology services provider's stock worth $7,583,462,000 after purchasing an additional 129,610 shares during the period. Capital International Investors boosted its holdings in shares of Accenture by 2.0% during the fourth quarter. Capital International Investors now owns 17,471,554 shares of the information technology services provider's stock worth $4,687,867,000 after acquiring an additional 343,420 shares during the period. Franklin Resources Inc. grew its position in shares of Accenture by 15.9% in the fourth quarter. Franklin Resources Inc. now owns 8,173,338 shares of the information technology services provider's stock valued at $2,192,907,000 after purchasing an additional 1,122,855 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Accenture by 1.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,393,818 shares of the information technology services provider's stock valued at $1,447,161,000 after buying an additional 63,760 shares in the last quarter. Finally, Bank of America Corp DE increased its position in Accenture by 2.2% during the 1st quarter. Bank of America Corp DE now owns 6,531,231 shares of the information technology services provider's stock worth $1,295,078,000 after buying an additional 143,483 shares during the period. 75.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Accenture

In other Accenture news, General Counsel Joel Unruch sold 10,498 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $162.98, for a total value of $1,710,964.04. Following the completion of the transaction, the general counsel directly owned 17,735 shares in the company, valued at approximately $2,890,450.30. This trade represents a 37.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is currently owned by insiders.

Accenture News Roundup

Here are the key news stories impacting Accenture this week:

• Positive Sentiment: Accenture’s forecast for stronger-than-expected annual revenue growth helped lift India’s Nifty IT Index and eased concerns that artificial intelligence could sharply reduce technology-services spending. The outlook suggests resilient demand for consulting, digital transformation and AI-related services. Accenture forecast boosts Indian IT stocks, lifts Nifty IT index
• Positive Sentiment: Accenture completed its acquisition of Denmark-based Mjølner Informatics, adding software-engineering expertise serving energy, utilities and manufacturing clients. The deal should strengthen its regional capabilities and industry-specific offerings, although it is unlikely to materially change near-term financial results. Accenture completes acquisition of Mjølner Informatics
• Positive Sentiment: A valuation-focused analysis highlights Accenture’s approximately $11.6 billion in annual free cash flow, strong return on equity, share repurchases and dividends. These factors may support downside protection and shareholder returns while the stock trades below its prior peak. Is Accenture Really Priced Like Its Best Days Are Over?

Analysts Set New Price Targets

ACN has been the topic of a number of recent research reports. UBS Group reaffirmed a "buy" rating on shares of Accenture in a research report on Wednesday. Wolfe Research raised their target price on shares of Accenture from $165.00 to $215.00 and gave the stock an "outperform" rating in a report on Tuesday, August 25th. Jefferies Financial Group set a $220.00 price target on Accenture in a research report on Friday. Royal Bank Of Canada upped their target price on Accenture from $175.00 to $240.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Dbs Bank downgraded shares of Accenture from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, June 23rd. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $218.59.

Accenture Price Performance

NYSE ACN traded down $4.65 during trading on Monday, hitting $194.25. 3,002,352 shares of the company's stock were exchanged, compared to its average volume of 6,981,185. The company has a market cap of $129.72 billion, a PE ratio of 14.32, a P/E/G ratio of 1.64 and a beta of 1.11. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 0.31. Accenture PLC has a fifty-two week low of $118.15 and a fifty-two week high of $291.09. The stock's 50 day moving average price is $180.91 and its two-hundred day moving average price is $173.46.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings results on Thursday, October 1st. The information technology services provider reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.11. The company had revenue of $18.68 billion for the quarter, compared to analyst estimates of $18.03 billion. Accenture had a net margin of 11.28% and a return on equity of 26.53%. The firm's revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $3.03 EPS. Accenture has set its FY 2027 guidance at 14.390-14.810 EPS. Research analysts expect that Accenture PLC will post 14.68 EPS for the current year.

Accenture announced that its board has authorized a stock buyback program on Tuesday, June 23rd that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the information technology services provider to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Accenture Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 13th will be given a dividend of $1.71 per share. The ex-dividend date is Tuesday, October 13th. This represents a $6.84 dividend on an annualized basis and a yield of 3.5%. This is an increase from Accenture's previous quarterly dividend of $1.63. Accenture's dividend payout ratio is presently 48.08%.

Accenture Company Profile

Accenture plc NYSE: ACN is a global professional services company that helps organizations improve performance, modernize operations and respond to technological and market changes. Its services span strategy and consulting, technology, operations, and managed services, with expertise across industries including communications, financial services, health care, public service, retail, manufacturing and resources.

The company provides digital transformation, cloud migration, data and artificial intelligence, cybersecurity, systems integration and technology implementation services.

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