CenterBook Partners LP Sells 7,089 Shares of Accenture PLC $ACN

Key Points

• CenterBook Partners LP reduced its Accenture stake by 37.2% in the fourth quarter, selling 7,089 shares and leaving it with 11,967 shares valued at about $3.21 million.
• Accenture reported better-than-expected quarterly results, with EPS of $2.93 versus $2.84 estimated and revenue of $18.04 billion, up 7.8% year over year.
• The stock has been under pressure, recently trading down 2.2% to $174.42, while analysts still maintain a Moderate Buy consensus with an average target price of $260.81.

CenterBook Partners LP cut its stake in shares of Accenture PLC (NYSE:ACN - Free Report) by 37.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,967 shares of the information technology services provider's stock after selling 7,089 shares during the quarter. CenterBook Partners LP's holdings in Accenture were worth $3,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of ACN. Triumph Capital Management bought a new stake in Accenture during the third quarter valued at approximately $26,000. Board of the Pension Protection Fund bought a new stake in Accenture during the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC bought a new stake in Accenture during the fourth quarter valued at approximately $27,000. Private Wealth Management Group LLC lifted its position in Accenture by 96.4% during the fourth quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 53 shares during the last quarter. Finally, Steph & Co. lifted its position in Accenture by 107.5% during the fourth quarter. Steph & Co. now owns 110 shares of the information technology services provider's stock valued at $30,000 after purchasing an additional 57 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

Accenture Trading Down 2.2%

Shares of ACN opened at $174.42 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.34. Accenture PLC has a fifty-two week low of $155.82 and a fifty-two week high of $321.77. The firm has a 50 day moving average price of $183.86 and a 200-day moving average price of $223.76. The firm has a market cap of $116.06 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 1.69 and a beta of 1.09.

Accenture (NYSE:ACN - Get Free Report) last issued its earnings results on Friday, March 20th. The information technology services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The company had revenue of $18.04 billion for the quarter, compared to the consensus estimate of $17.80 billion. During the same period in the previous year, the firm earned $2.82 earnings per share. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities research analysts forecast that Accenture PLC will post 13.88 earnings per share for the current year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 9th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, April 9th. Accenture's payout ratio is presently 53.40%.

Insider Activity at Accenture

In related news, CEO Atsushi Egawa sold 4,872 shares of Accenture stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $177.14, for a total value of $863,026.08. Following the transaction, the chief executive officer directly owned 12,802 shares of the company's stock, valued at $2,267,746.28. The trade was a 27.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is currently owned by insiders.

Key Accenture News

Here are the key news stories impacting Accenture this week:

• Positive Sentiment: Accenture announced a new AI Adoption Maturity Model with Carnegie Mellon University’s Software Engineering Institute, a move that could strengthen its positioning as a trusted enterprise AI consulting partner and support future services demand. Article: Accenture and the Carnegie Mellon University Software Engineering Institute Launch AI Adoption Maturity Model to Help Organizations Scale AI with Predictable Outcomes
• Positive Sentiment: Analysts at JPMorgan and TD Cowen maintained bullish ratings on Accenture despite trimming price targets, signaling continued confidence in the company’s long-term fundamentals and upside from current levels. Article: JPMorgan adjusts price target on Accenture to 201 from 247 maintains overweight rating Article: TD Cowen adjusts price target on Accenture to 258 from 282 maintains buy rating
• Positive Sentiment: Accenture’s planned acquisition of Whalar, a leading creator and social agency, suggests it is expanding capabilities in digital marketing and creator-led services, which could broaden its growth opportunities. Article: Accenture to Acquire Leading Creator and Social Agency Whalar, from Whalar Group
• Neutral Sentiment: Commentary pieces emphasized Accenture as a major player in enterprise AI and highlighted its debt-free balance sheet, but these were mostly strategic overviews rather than new financial catalysts. Article: Is Accenture (ACN) Turning AI Readiness Consulting Into a Defensible Edge in Enterprise Services? Article: Accenture Plc (ACN): A Debt-Free IT Stock Expanding AI Capabilities Despite Downgrade
• Negative Sentiment: Accenture shares were pressured by a stock decline versus a broadly firmer market, indicating weak near-term investor sentiment around the name. Article: Accenture (ACN) Stock Falls Amid Market Uptick: What Investors Need to Know
• Negative Sentiment: A recent Truist downgrade noted concerns about constrained client budgets and competitive pressures, reinforcing worries that consulting demand may remain uneven in the near term. Article: Accenture Plc (ACN): A Debt-Free IT Stock Expanding AI Capabilities Despite Downgrade

Analyst Ratings Changes

Several equities research analysts have issued reports on ACN shares. UBS Group reiterated a "buy" rating on shares of Accenture in a research report on Tuesday, March 17th. The Goldman Sachs Group lowered their price objective on shares of Accenture from $300.00 to $270.00 and set a "buy" rating for the company in a report on Wednesday, June 3rd. Citigroup lowered their price objective on shares of Accenture from $215.00 to $195.00 and set a "neutral" rating for the company in a report on Monday, June 1st. Stifel Nicolaus lowered their price objective on shares of Accenture from $315.00 to $270.00 and set a "buy" rating for the company in a report on Wednesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Accenture from $210.00 to $199.00 and set a "hold" rating for the company in a report on Tuesday, June 2nd. Seventeen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $260.81.

Accenture Profile

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.

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