Accenture PLC (NYSE:ACN) Shares Sold by Callan Family Office LLC

Key Points

• Callan Family Office LLC sold 1,283 shares of Accenture PLC, reducing its holdings by 5.8% to 20,660 shares, valued at approximately $6.45 million as of the latest SEC filing.
• Accenture recently reported a quarterly earnings per share (EPS) of $3.49, surpassing expectations, with a revenue of $17.73 billion, marking a year-over-year growth of 7.7%.
• Institutional investors own 75.14% of Accenture's shares, with recent analyst ratings showing a consensus of "Moderate Buy" and a target price of $360.21.

Callan Family Office LLC reduced its position in shares of Accenture PLC (NYSE:ACN - Free Report) by 5.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,660 shares of the information technology services provider's stock after selling 1,283 shares during the quarter. Callan Family Office LLC's holdings in Accenture were worth $6,447,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ACN. Vanguard Group Inc. grew its position in shares of Accenture by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 63,814,234 shares of the information technology services provider's stock worth $19,912,594,000 after buying an additional 3,419,577 shares during the period. GAMMA Investing LLC grew its position in Accenture by 30,256.8% during the 1st quarter. GAMMA Investing LLC now owns 3,421,519 shares of the information technology services provider's stock valued at $1,067,651,000 after purchasing an additional 3,410,248 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Accenture by 16.8% during 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 acquiring an additional 1,770,024 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Accenture by 2,782.1% during the 1st quarter. Pacer Advisors Inc. now owns 1,445,281 shares of the information technology services provider's stock valued at $450,985,000 after acquiring an additional 1,395,135 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Accenture by 10.7% during the 4th quarter. Northern Trust Corp now owns 7,582,344 shares of the information technology services provider's stock valued at $2,667,393,000 after acquiring an additional 732,769 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Accenture

In other Accenture news, CEO Mauro Macchi sold 500 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $282.34, for a total transaction of $141,170.00. Following the completion of the sale, the chief executive officer directly owned 2,283 shares of the company's stock, valued at approximately $644,582.22. This represents a 17.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Angela Beatty sold 203 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $282.34, for a total transaction of $57,315.02. Following the sale, the insider directly owned 5,249 shares of the company's stock, valued at approximately $1,482,002.66. The trade was a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,954 shares of company stock valued at $834,280. 0.02% of the stock is currently owned by insiders.

Accenture Trading Up 0.4%

Shares of ACN traded up $0.88 during trading hours on Friday, reaching $247.04. 4,223,359 shares of the company traded hands, compared to its average volume of 4,754,784. The firm has a market cap of $154.73 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 2.24 and a beta of 1.29. Accenture PLC has a 12-month low of $236.67 and a 12-month high of $398.35. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock's fifty day moving average price is $283.92 and its 200 day moving average price is $311.61.

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

Accenture Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 10th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, July 10th. Accenture's dividend payout ratio is presently 47.13%.

Analysts Set New Price Targets

ACN has been the topic of a number of research reports. Barclays dropped their price objective on shares of Accenture from $390.00 to $360.00 and set an "overweight" rating on the stock in a report on Monday, June 23rd. UBS Group reaffirmed a "buy" rating and set a $395.00 price target (up previously from $390.00) on shares of Accenture in a report on Thursday, May 22nd. Hsbc Global Res raised shares of Accenture to a "moderate sell" rating in a report on Monday, July 28th. Morgan Stanley lowered their price target on shares of Accenture from $340.00 to $325.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 24th. Finally, BMO Capital Markets lowered their price target on shares of Accenture from $355.00 to $325.00 and set a "market perform" rating on the stock in a report on Monday, June 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $360.21.

Accenture Profile

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.