Bancreek Capital Management LP Sells 2,010 Shares of Accenture PLC (NYSE:ACN)

Bancreek Capital Management LP lessened its stake in Accenture PLC (NYSE:ACN - Free Report) by 14.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,965 shares of the information technology services provider's stock after selling 2,010 shares during the quarter. Accenture comprises approximately 5.6% of Bancreek Capital Management LP's investment portfolio, making the stock its 14th biggest holding. Bancreek Capital Management LP's holdings in Accenture were worth $3,734,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of Accenture in the 4th quarter valued at about $30,000. Mpwm Advisory Solutions LLC bought a new position in shares of Accenture in the 4th quarter valued at about $30,000. Park Square Financial Group LLC bought a new position in shares of Accenture in the 4th quarter valued at about $31,000. Inlight Wealth Management LLC bought a new position in shares of Accenture in the 1st quarter valued at about $32,000. Finally, Promus Capital LLC bought a new position in shares of Accenture in the 4th quarter valued at about $34,000. Institutional investors own 75.14% of the company's stock.

Analyst Upgrades and Downgrades

ACN has been the topic of several recent research reports. Royal Bank Of Canada reduced their target price on shares of Accenture from $399.00 to $392.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Guggenheim reduced their target price on shares of Accenture from $360.00 to $335.00 and set a "buy" rating on the stock in a research note on Monday, June 23rd. Mizuho set a $348.00 price objective on shares of Accenture and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. Baird R W raised shares of Accenture from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Robert W. Baird raised shares of Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 price objective on the stock in a research note on Monday, March 17th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Accenture presently has an average rating of "Moderate Buy" and an average target price of $370.71.

Insider Activity at Accenture

In other Accenture news, General Counsel Joel Unruch sold 3,563 shares of the company's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.78, for a total value of $1,003,982.14. Following the transaction, the general counsel directly owned 17,237 shares in the company, valued at $4,857,041.86. The trade was a 17.13% 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 hyperlink. Also, CEO Julie Spellman Sweet sold 2,284 shares of the company's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.63, for a total transaction of $643,242.92. Following the completion of the transaction, the chief executive officer owned 9,965 shares in the company, valued at approximately $2,806,442.95. This represents a 18.65% 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 valued at $2,507,366 in the last ninety days. Company insiders own 0.02% of the company's stock.

Accenture Stock Up 0.8%

ACN traded up $2.29 during trading on Thursday, reaching $304.58. The company had a trading volume of 1,616,133 shares, compared to its average volume of 2,902,190. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. Accenture PLC has a 12 month low of $273.19 and a 12 month high of $398.35. The business's fifty day moving average price is $309.33 and its 200 day moving average price is $330.04. The company has a market cap of $190.76 billion, a P/E ratio of 24.25, a PEG ratio of 2.84 and a beta of 1.29.

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

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be issued a dividend of $1.48 per share. The ex-dividend date is Thursday, July 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.94%. Accenture's payout ratio is 47.13%.

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.