Frank Rimerman Advisors LLC Has $3.26 Million Stock Holdings in Accenture PLC (NYSE:ACN)

Key Points

• Frank Rimerman Advisors LLC reduced its holdings in Accenture PLC by 23.0%, owning 10,459 shares valued at approximately $3.26 million after this adjustment.
• Accenture reported $3.49 earnings per share for the quarter, exceeding consensus estimates and reflecting a 7.7% year-over-year revenue increase to $17.73 billion.
• The company announced a quarterly dividend of $1.48 per share, representing a 2.5% dividend yield, with a payout ratio of 47.13%.

Frank Rimerman Advisors LLC lessened its holdings in Accenture PLC (NYSE:ACN - Free Report) by 23.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,459 shares of the information technology services provider's stock after selling 3,116 shares during the period. Frank Rimerman Advisors LLC's holdings in Accenture were worth $3,264,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Mpwm Advisory Solutions LLC acquired a new stake in Accenture in the fourth quarter valued at $30,000. Park Square Financial Group LLC bought a new position in shares of Accenture during the fourth quarter worth about $31,000. Inlight Wealth Management LLC bought a new stake in Accenture in the first quarter valued at about $32,000. Capital A Wealth Management LLC acquired a new stake in Accenture during the fourth quarter valued at approximately $34,000. Finally, Navigoe LLC acquired a new position in shares of Accenture in the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 75.14% of the company's stock.

Analyst Upgrades and Downgrades

ACN has been the topic of several research reports. Deutsche Bank Aktiengesellschaft started coverage on Accenture in a research report on Thursday, July 17th. They set a "hold" rating and a $290.00 price target on the stock. HSBC began coverage on shares of Accenture in a report on Monday, July 28th. They issued a "reduce" rating and a $240.00 price objective for the company. UBS Group restated a "buy" rating and set a $395.00 price target (up from $390.00) on shares of Accenture in a research report on Thursday, May 22nd. Evercore ISI began coverage on shares of Accenture in a research note on Thursday, July 17th. They set an "outperform" rating and a $330.00 price objective on the stock. Finally, BMO Capital Markets decreased their price target on Accenture from $355.00 to $325.00 and set a "market perform" rating for the company in a research note on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Accenture has an average rating of "Moderate Buy" and an average price target of $360.21.

Accenture Stock Up 3.5%

Shares of NYSE ACN traded up $8.30 during mid-day trading on Wednesday, reaching $246.17. 2,975,752 shares of the company traded hands, compared to its average volume of 3,520,098. The company's fifty day moving average is $288.13 and its two-hundred day moving average is $313.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. Accenture PLC has a fifty-two week low of $236.67 and a fifty-two week high of $398.35. The stock has a market cap of $154.18 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 2.17 and a beta of 1.29.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings results on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, beating the consensus estimate 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 return on equity of 26.55% and a net margin of 11.61%. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $3.13 earnings per share. On average, analysts expect that Accenture PLC will post 12.73 earnings per share for the current year.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 10th will be paid 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 2.4%. Accenture's payout ratio is currently 47.13%.

Insiders Place Their Bets

In other news, insider Angela Beatty sold 203 shares of the firm's 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 completion of the transaction, the insider directly owned 5,249 shares of the company's stock, valued at approximately $1,482,002.66. This trade represents a 3.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Julie Spellman Sweet sold 2,251 shares of the stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $282.45, for a total value of $635,794.95. Following the completion of the transaction, the chief executive officer directly owned 8,109 shares of the company's stock, valued at approximately $2,290,387.05. The trade was a 21.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,954 shares of company stock worth $834,280 over the last 90 days. Corporate insiders own 0.02% of the company's stock.

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.