Penobscot Investment Management Company Inc. Has $8.05 Million Stock Position in Accenture PLC $ACN

Key Points

• Penobscot Investment Management Company Inc. has reduced its holdings in Accenture PLC by 9.9%, owning 26,934 shares worth approximately $8.05 million as of the latest quarter.
• Accenture recently announced a quarterly dividend of $1.63 per share, marking an increase from its previous dividend and offering a 2.7% yield.
• Brokerages have adjusted their price targets for Accenture, with Mizuho lowering its target from $348.00 to $309.00 while maintaining an "outperform" rating.

Penobscot Investment Management Company Inc. lessened its holdings in Accenture PLC (NYSE:ACN - Free Report) by 9.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,934 shares of the information technology services provider's stock after selling 2,962 shares during the period. Penobscot Investment Management Company Inc.'s holdings in Accenture were worth $8,050,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ACN. Mizuho reduced their price objective on shares of Accenture from $348.00 to $309.00 and set an "outperform" rating for the company in a research report on Monday. Deutsche Bank Aktiengesellschaft reduced their target price on Accenture from $260.00 to $235.00 and set a "hold" rating for the company in a report on Friday, September 26th. UBS Group cut their price objective on Accenture from $363.00 to $315.00 and set a "buy" rating on the stock in a research report on Wednesday, September 24th. Weiss Ratings restated a "hold (c-)" rating on shares of Accenture in a research note on Saturday, September 27th. Finally, Guggenheim lowered their target price on Accenture from $305.00 to $285.00 and set a "buy" rating on the stock in a research note on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Accenture currently has a consensus rating of "Moderate Buy" and an average target price of $300.22.

Insider Transactions at Accenture

In other Accenture news, insider Angela Beatty sold 203 shares of the firm's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $282.34, for a total value of $57,315.02. Following the completion of the transaction, the insider owned 5,249 shares in the company, valued at $1,482,002.66. This trade represents a 3.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Julie Spellman Sweet sold 2,251 shares of the company's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $282.45, for a total value of $635,794.95. Following the sale, the chief executive officer owned 8,109 shares in the company, valued at approximately $2,290,387.05. This represents a 21.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,954 shares of company stock valued at $834,280 over the last three months. Company insiders own 0.02% of the company's stock.

Accenture Trading Up 0.4%

Shares of ACN opened at $245.39 on Friday. Accenture PLC has a fifty-two week low of $229.40 and a fifty-two week high of $398.35. The business has a 50-day moving average of $249.57 and a 200 day moving average of $283.65. The firm has a market cap of $153.69 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 2.13 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.42.

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

Accenture Increases Dividend

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

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.

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