DAVENPORT & Co LLC Sells 2,882 Shares of Accenture PLC $ACN

Key Points

• DAVENPORT & Co LLC has reduced its holdings in Accenture PLC by 1.1%, now owning 270,607 shares valued at approximately $80.7 million after selling 2,882 shares.
• Accenture reported a quarterly EPS of $3.03, surpassing estimates, with revenues of $17.6 billion, resulting in a 7.3% year-over-year increase.
• The company announced a dividend increase from $1.48 to $1.63 per share, with an upcoming payout date of November 14th for shareholders on record by October 10th.

DAVENPORT & Co LLC trimmed its position in Accenture PLC (NYSE:ACN - Free Report) by 1.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 270,607 shares of the information technology services provider's stock after selling 2,882 shares during the quarter. DAVENPORT & Co LLC's holdings in Accenture were worth $80,702,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ACN. Kelly Lawrence W & Associates Inc. CA purchased a new stake in Accenture during the first quarter valued at approximately $31,000. Inlight Wealth Management LLC purchased a new stake in Accenture during the 1st quarter valued at $32,000. WPG Advisers LLC purchased a new position in Accenture during the first quarter worth $42,000. Atwood & Palmer Inc. increased its position in Accenture by 407.4% during the first quarter. Atwood & Palmer Inc. now owns 137 shares of the information technology services provider's stock valued at $43,000 after acquiring an additional 110 shares during the last quarter. Finally, Cheviot Value Management LLC purchased a new stake in shares of Accenture in the first quarter valued at $43,000. 75.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on ACN. HSBC cut their price target on shares of Accenture from $240.00 to $215.00 in a report on Friday, September 26th. Royal Bank Of Canada dropped their target price on shares of Accenture from $372.00 to $285.00 and set an "outperform" rating on the stock in a research note on Friday, September 26th. UBS Group cut their target price on shares of Accenture from $363.00 to $315.00 and set a "buy" rating on the stock in a research report on Wednesday, September 24th. The Goldman Sachs Group reduced their price objective on shares of Accenture from $370.00 to $330.00 and set a "buy" rating for the company in a research note on Friday, September 26th. Finally, JPMorgan Chase & Co. dropped their target price on Accenture from $302.00 to $290.00 and set an "overweight" rating on the stock in a research report on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $300.22.

Insider Activity at Accenture

In related news, CEO Mauro Macchi sold 500 shares of the firm's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $282.34, for a total value of $141,170.00. Following the completion of the transaction, the chief executive officer owned 2,283 shares in the company, valued at $644,582.22. This trade represents a 17.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 value of $57,315.02. Following the completion of the transaction, the insider directly owned 5,249 shares in the company, valued at $1,482,002.66. This represents a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,954 shares of company stock valued at $834,280 in the last ninety days. Company insiders own 0.02% of the company's stock.

Accenture Stock Performance

Shares of ACN opened at $245.39 on Monday. The company has a current ratio of 1.42, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The firm has a market cap of $153.69 billion, a PE ratio of 20.20, a P/E/G ratio of 2.14 and a beta of 1.28. Accenture PLC has a 12 month low of $229.40 and a 12 month high of $398.35. The stock has a fifty day moving average price of $249.57 and a 200-day moving average price of $283.24.

Accenture (NYSE:ACN - Get Free Report) last announced its earnings results on Thursday, September 25th. The information technology services provider reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.05. The company had revenue of $17.60 billion for the quarter, compared to analyst estimates of $17.34 billion. Accenture had a return on equity of 26.45% and a net margin of 11.02%.The firm's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.66 EPS. Accenture has set its FY 2026 guidance at 13.190-13.570 EPS. Q1 2026 guidance at EPS. Equities research analysts predict that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Accenture Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be paid a dividend of $1.63 per share. The ex-dividend date is Friday, October 10th. This is an increase from Accenture's previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 2.7%. Accenture's payout ratio is presently 48.72%.

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.

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