Accenture PLC $ACN Shares Sold by Nisa Investment Advisors LLC

Key Points

• Nisa Investment Advisors reduced its Accenture stake by 7.5% in the third quarter, selling 10,726 shares and retaining 133,243 shares valued at approximately $24.4 million. Institutional investors collectively own 75.14% of the company.
• Accenture reported quarterly earnings of $3.29 per share and revenue of $18.68 billion, exceeding analyst expectations, while revenue grew 6.2% year over year.
• The company increased its quarterly dividend from $1.63 to $1.71 per share, equivalent to an annualized $6.84 dividend and a 2.8% yield. Analysts maintain an overall “Hold” rating with an average price target of $219.52.

Nisa Investment Advisors LLC reduced its holdings in Accenture PLC (NYSE:ACN - Free Report) by 7.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 133,243 shares of the information technology services provider's stock after selling 10,726 shares during the quarter. Nisa Investment Advisors LLC's holdings in Accenture were worth $24,433,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Bank of America Corp DE lifted its holdings in shares of Accenture by 2.2% during the first 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 purchasing an additional 143,483 shares during the period. First Trust Advisors LP increased its holdings in Accenture by 120.0% in the first quarter. First Trust Advisors LP now owns 3,482,150 shares of the information technology services provider's stock valued at $690,475,000 after purchasing an additional 1,899,305 shares during the period. Pzena Investment Management LLC increased its holdings in Accenture by 84.0% in the first quarter. Pzena Investment Management LLC now owns 2,405,683 shares of the information technology services provider's stock valued at $477,023,000 after purchasing an additional 1,097,961 shares during the period. The Manufacturers Life Insurance Company raised its position in Accenture by 24.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,384,954 shares of the information technology services provider's stock worth $472,913,000 after purchasing an additional 466,452 shares during the last quarter. Finally, Artemis Investment Management LLP raised its position in Accenture by 67.6% during the 3rd quarter. Artemis Investment Management LLP now owns 2,196,789 shares of the information technology services provider's stock worth $402,825,000 after purchasing an additional 885,687 shares during the last quarter. Institutional investors own 75.14% of the company's stock.

Insider Activity

In related news, COO Catherine Hogan sold 1,320 shares of the company's stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $200.00, for a total transaction of $264,000.00. Following the sale, the chief operating officer owned 12,556 shares in the company, valued at $2,511,200. This represents a 9.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Joel Unruch sold 10,498 shares of the firm's stock in a transaction that occurred on 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 sale, the general counsel directly owned 17,735 shares of the company's stock, valued at $2,890,450.30. This represents a 37.18% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 12,518 shares of company stock valued at $2,124,932. Corporate insiders own 0.02% of the company's stock.

Accenture Trading Up 0.6%

ACN opened at $240.61 on Thursday. Accenture PLC has a twelve month low of $118.15 and a twelve month high of $291.09. The company has a fifty day moving average of $192.96 and a 200-day moving average of $175.23. The stock has a market cap of $160.68 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 1.84 and a beta of 1.11. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 0.31.

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

Accenture Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 13th will be given a $1.71 dividend. This is a boost from Accenture's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $6.84 annualized dividend and a dividend yield of 2.8%. Accenture's dividend payout ratio is 50.44%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Truist Financial lifted their target price on Accenture from $150.00 to $220.00 and gave the stock a "hold" rating in a report on Friday, October 2nd. Susquehanna increased their price target on Accenture from $210.00 to $230.00 and gave the company a "neutral" rating in a research note on Thursday, October 15th. Robert W. Baird restated a "neutral" rating and set a $252.00 price objective (up from $245.00) on shares of Accenture in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective on Accenture from $179.00 to $200.00 and gave the stock an "overweight" rating in a research report on Friday, September 25th. Finally, UBS Group set a $278.00 price objective on Accenture in a research note on Thursday, October 15th. Ten investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $219.52.

About Accenture

Accenture plc is a global professional services company that helps organizations transform their businesses through consulting, technology and managed services. Its work spans strategy and consulting, technology implementation, operations, and interactive customer experiences.

The company provides services in areas including cloud computing, artificial intelligence, cybersecurity, data and analytics, digital engineering, enterprise software, systems integration and business process outsourcing.

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