First National Trust Co Sells 2,633 Shares of Accenture PLC (NYSE:ACN)

Key Points

• First National Trust Co reduced its stake in Accenture PLC by 16.7%, holding 13,093 shares valued at approximately $4.09 million after selling 2,633 shares.
• Other investors, such as Tredje AP fonden and Geneos Wealth Management Inc., have significantly increased their stakes in Accenture, increasing market interest in the stock.
• Accenture recently announced a quarterly dividend of $1.48 per share, with a total annualized dividend yield of 2.16%, reflecting its strong financial performance with a revenue increase of 7.7% year-over-year.

First National Trust Co reduced its stake in shares of Accenture PLC (NYSE:ACN - Free Report) by 16.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,093 shares of the information technology services provider's stock after selling 2,633 shares during the quarter. First National Trust Co's holdings in Accenture were worth $4,086,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ACN. Mpwm Advisory Solutions LLC acquired a new position in shares of Accenture during the fourth quarter worth $30,000. Park Square Financial Group LLC acquired a new stake in Accenture during the fourth quarter valued at $31,000. Capital A Wealth Management LLC purchased a new position in Accenture during the fourth quarter worth approximately $34,000. Inlight Wealth Management LLC purchased a new stake in shares of Accenture during the first quarter worth about $32,000. Finally, Navigoe LLC purchased a new stake in shares of Accenture during the fourth quarter worth approximately $37,000. 75.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on ACN. Benchmark reaffirmed a "mixed" rating on shares of Accenture in a report on Friday, June 20th. Evercore ISI initiated coverage on Accenture in a research note on Thursday, July 17th. They set an "outperform" rating and a $330.00 price target on the stock. Morgan Stanley decreased their target price on Accenture from $340.00 to $325.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 24th. BMO Capital Markets cut their price target on shares of Accenture from $355.00 to $325.00 and set a "market perform" rating on the stock in a research note on Monday, June 23rd. Finally, UBS Group reaffirmed a "buy" rating and issued a $395.00 price target (up from $390.00) on shares of Accenture in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Accenture currently has a consensus rating of "Moderate Buy" and an average target price of $360.21.

Insider Transactions at Accenture

In other Accenture news, COO John F. Walsh sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total transaction of $812,500.00. Following the transaction, the chief operating officer owned 15,882 shares of the company's stock, valued at $5,161,650. The trade was a 13.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mauro Macchi sold 500 shares of Accenture 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 transaction, the chief executive officer directly owned 2,283 shares of the company's stock, valued at approximately $644,582.22. This trade represents a 17.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,454 shares of company stock worth $1,646,780 over the last 90 days. Insiders own 0.02% of the company's stock.

Accenture Trading Up 0.8%

Accenture stock traded up $2.02 during midday trading on Monday, reaching $257.39. The stock had a trading volume of 1,626,858 shares, compared to its average volume of 3,389,772. The firm has a market cap of $161.21 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 2.32 and a beta of 1.29. Accenture PLC has a twelve month low of $254.20 and a twelve month high of $398.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The firm's fifty day simple moving average is $297.98 and its two-hundred day simple moving average is $319.10.

Accenture (NYSE:ACN - Get Free Report) last posted its earnings results on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.32 by $0.17. The company had revenue of $17.73 billion during 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 company's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.13 earnings per share. Equities analysts anticipate that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 10th will be given a $1.48 dividend. The ex-dividend date is Thursday, July 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 2.3%. Accenture's dividend payout ratio (DPR) is currently 47.13%.

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.