Arnhold LLC Sells 8,000 Shares of Accenture PLC $ACN

Key Points

• Arnhold LLC cut its Accenture position by 41.9% in the third quarter, selling 8,000 shares and retaining 11,089 shares valued at approximately $2.03 million. Institutional investors and hedge funds collectively own 75.14% of the stock.
• Analysts have raised several price targets, but sentiment remains mixed: Accenture has a consensus “Hold” rating and an average price target of $221.07. Recent targets range from $190 to $260.
• Accenture reported quarterly earnings and revenue above expectations and increased its quarterly dividend from $1.63 to $1.71 per share, implying an annualized dividend of $6.84 and a 2.8% yield.

Arnhold LLC lowered its position in shares of Accenture PLC (NYSE:ACN - Free Report) by 41.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,089 shares of the information technology services provider's stock after selling 8,000 shares during the quarter. Arnhold LLC's holdings in Accenture were worth $2,033,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Dogwood Wealth Management LLC lifted its position in shares of Accenture by 147.1% during the 2nd quarter. Dogwood Wealth Management LLC now owns 215 shares of the information technology services provider's stock valued at $27,000 after acquiring an additional 128 shares during the period. IMG Wealth Management Inc. boosted its stake in Accenture by 134.8% during the first quarter. IMG Wealth Management Inc. now owns 155 shares of the information technology services provider's stock worth $31,000 after acquiring an additional 89 shares in the last quarter. Arlington Trust Co LLC boosted its stake in Accenture by 110.4% during the second quarter. Arlington Trust Co LLC now owns 284 shares of the information technology services provider's stock worth $35,000 after acquiring an additional 149 shares in the last quarter. S&G Foundation acquired a new stake in Accenture in the second quarter worth $37,000. Finally, Whipplewood Advisors LLC grew its holdings in Accenture by 57.9% in the first quarter. Whipplewood Advisors LLC now owns 210 shares of the information technology services provider's stock worth $42,000 after purchasing an additional 77 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Ryoji Sekido sold 5,844 shares of the firm's stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $244.84, for a total transaction of $1,430,844.96. Following the transaction, the chief executive officer directly owned 1,194 shares of the company's stock, valued at $292,338.96. This trade represents a 83.03% 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, CAO Melissa Burgum sold 811 shares of the business's stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $250.00, for a total transaction of $202,750.00. Following the transaction, the chief accounting officer owned 9,820 shares in the company, valued at approximately $2,455,000. This trade represents a 7.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 19,173 shares of company stock valued at $3,758,527 over the last ninety days. Company insiders own 0.02% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Royal Bank Of Canada lifted their price target on shares of Accenture from $175.00 to $240.00 and gave the company an "outperform" rating in a research note on Friday, October 2nd. Citigroup increased their price objective on shares of Accenture from $135.00 to $190.00 and gave the stock a "neutral" rating in a research report on Monday, August 24th. Wells Fargo & Company raised their target price on Accenture from $210.00 to $252.00 and gave the company an "equal weight" rating in a research note on Monday. Argus boosted their target price on Accenture from $220.00 to $260.00 and gave the company a "buy" rating in a research report on Friday, October 2nd. Finally, TD Cowen upped their price target on Accenture from $193.00 to $201.00 and gave the stock a "hold" rating in a research note on Thursday, October 15th. Ten equities research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $221.07.

Accenture Stock Performance

Shares of Accenture stock opened at $247.26 on Tuesday. Accenture PLC has a 52 week low of $118.15 and a 52 week high of $291.09. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average price of $195.83 and a 200-day moving average price of $193.24. The company has a market cap of $146.14 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 1.92 and a beta of 1.11.

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 (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 analysts' expectations of $18.03 billion. Accenture had a return on equity of 26.53% and a net margin of 11.28%. Accenture's quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.03 earnings per share. Accenture has set its FY 2027 guidance at 14.390-14.810 EPS. Equities analysts anticipate that Accenture PLC will post 14.68 earnings per share for the current fiscal year.

Accenture Increases Dividend

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

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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