Chevy Chase Trust Holdings LLC Sells 30,416 Shares of Accenture PLC (NYSE:ACN)

Chevy Chase Trust Holdings LLC decreased its position in shares of Accenture PLC (NYSE:ACN - Free Report) by 5.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 545,746 shares of the information technology services provider's stock after selling 30,416 shares during the period. Accenture comprises 0.5% of Chevy Chase Trust Holdings LLC's holdings, making the stock its 28th largest holding. Chevy Chase Trust Holdings LLC owned approximately 0.09% of Accenture worth $170,295,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ACN. Norges Bank acquired a new position in Accenture in the 4th quarter worth about $2,351,683,000. GAMMA Investing LLC lifted its holdings in shares of Accenture by 30,256.8% during the first quarter. GAMMA Investing LLC now owns 3,421,519 shares of the information technology services provider's stock worth $1,067,651,000 after purchasing an additional 3,410,248 shares during the period. Wellington Management Group LLP increased its holdings in Accenture by 22.8% in the fourth quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider's stock valued at $4,283,225,000 after purchasing an additional 2,260,740 shares during the period. Raymond James Financial Inc. acquired a new position in Accenture during the 4th quarter worth about $666,495,000. Finally, Capital Research Global Investors grew its position in shares of Accenture by 16.8% in the 4th quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider's stock valued at $4,325,526,000 after buying an additional 1,770,024 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Benchmark restated a "mixed" rating on shares of Accenture in a research report on Friday, June 20th. Piper Sandler reduced their price objective on shares of Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Royal Bank Of Canada decreased their price objective on shares of Accenture from $399.00 to $392.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Wall Street Zen cut shares of Accenture from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Finally, Mizuho lowered their price objective on Accenture from $365.00 to $348.00 and set an "outperform" rating for the company in a research report on Tuesday. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $370.75.

Accenture Stock Down 2.0%

NYSE:ACN traded down $6.01 on Wednesday, hitting $294.71. The stock had a trading volume of 3,164,347 shares, compared to its average volume of 2,943,222. 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 PLC has a 52 week low of $273.19 and a 52 week high of $398.35. The business's fifty day moving average is $307.33 and its 200 day moving average is $332.81. The company has a market cap of $184.59 billion, a PE ratio of 23.46, a P/E/G ratio of 2.94 and a beta of 1.33.

Accenture (NYSE:ACN - Get Free Report) last issued its earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.32 by $0.17. The company had revenue of $17.73 billion for the quarter, compared to analysts' expectations of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%. Accenture's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business earned $3.13 EPS. On average, equities research analysts expect that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 10th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, July 10th. Accenture's payout ratio is presently 47.13%.

Insider Buying and Selling

In related news, General Counsel Joel Unruch sold 3,563 shares of Accenture stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.78, for a total transaction of $1,003,982.14. Following the transaction, the general counsel now owns 17,237 shares of the company's stock, valued at $4,857,041.86. The trade was a 17.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO John F. Walsh sold 2,500 shares of the stock in a transaction on Tuesday, May 13th. The shares were 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 directly owns 15,882 shares of the company's stock, valued at $5,161,650. The trade was a 13.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,516 shares of company stock worth $2,507,366 in the last quarter. Insiders own 0.02% of the company's stock.

About Accenture

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.