Accenture PLC (NYSE:ACN) Stock Position Decreased by TD Asset Management Inc

Key Points

• TD Asset Management Inc has reduced its holdings in Accenture PLC by 6.3%, now owning 635,880 shares valued at approximately $198.42 million.
• Accenture has recently announced a quarterly dividend of $1.48 per share, with an annualized dividend yield of 2.09%.
• Accenture's stock saw a recent trading increase of 0.5% and has a market cap of $177.31 billion, reflecting positive earnings growth compared to the same quarter last year.

TD Asset Management Inc lessened its position in shares of Accenture PLC (NYSE:ACN - Free Report) by 6.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 635,880 shares of the information technology services provider's stock after selling 42,747 shares during the period. TD Asset Management Inc owned approximately 0.10% of Accenture worth $198,420,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ACN. Mpwm Advisory Solutions LLC purchased a new stake in shares of Accenture in the fourth quarter worth about $30,000. Park Square Financial Group LLC purchased a new stake in shares of Accenture in the fourth quarter worth about $31,000. Capital A Wealth Management LLC purchased a new stake in shares of Accenture in the fourth quarter worth about $34,000. Inlight Wealth Management LLC purchased a new position in Accenture in the first quarter valued at about $32,000. Finally, Navigoe LLC purchased a new position in Accenture in the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 75.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ACN. Morgan Stanley reduced their price target on Accenture from $340.00 to $325.00 and set an "equal weight" rating for the company in a report on Tuesday, June 24th. HSBC began coverage on Accenture in a report on Monday. They issued a "reduce" rating and a $240.00 price target for the company. Piper Sandler reduced their price target on Accenture from $364.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Mizuho set a $348.00 price target on Accenture and gave the company an "outperform" rating in a report on Tuesday, June 24th. Finally, Guggenheim cut their price objective on Accenture from $360.00 to $335.00 and set a "buy" rating on the stock in a research note on Monday, June 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $360.21.

Accenture Stock Performance

ACN traded down $1.79 during trading hours on Wednesday, hitting $277.11. The company's stock had a trading volume of 1,412,603 shares, compared to its average volume of 3,353,597. Accenture PLC has a fifty-two week low of $273.19 and a fifty-two week high of $398.35. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $173.56 billion, a PE ratio of 22.07, a PEG ratio of 2.62 and a beta of 1.29. The company has a 50-day simple moving average of $300.93 and a 200 day simple moving average of $321.07.

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, beating the consensus estimate of $3.32 by $0.17. Accenture had a return on equity of 26.55% and a net margin of 11.61%. The firm had revenue of $17.73 billion for the quarter, compared to analysts' expectations of $17.26 billion. During the same period last year, the firm earned $3.13 EPS. The firm's revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts expect that Accenture PLC will post 12.73 EPS for the current year.

Accenture Announces Dividend

The company 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. This represents a $5.92 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, July 10th. Accenture's payout ratio is currently 47.13%.

Insider Transactions at Accenture

In other news, CEO Julie Spellman Sweet sold 2,251 shares of the firm's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $282.45, for a total transaction of $635,794.95. Following the completion of the sale, the chief executive officer directly owned 8,109 shares of the company's stock, valued at $2,290,387.05. This trade represents a 21.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 sale, the chief executive officer directly owned 2,283 shares of the company's stock, valued at approximately $644,582.22. This represents a 17.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,454 shares of company stock valued at $1,646,780. Company 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.