Truepoint Inc. Has $995,000 Holdings in Accenture PLC (NYSE:ACN)

Key Points

• Truepoint Inc. reduced its holdings in Accenture PLC by 27.9%, selling 1,235 shares and ending with a total of 3,189 shares valued at $995,000.
• Accenture's stock has faced recent price target adjustments from multiple analysts, with Barclays lowering its target from $390 to $360 while maintaining an "overweight" rating.
• Accenture announced a quarterly dividend of $1.48 per share, representing an annual yield of 2.4%, payable on August 15th to investors of record as of July 10th.

Truepoint Inc. decreased its position in Accenture PLC (NYSE:ACN - Free Report) by 27.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,189 shares of the information technology services provider's stock after selling 1,235 shares during the period. Truepoint Inc.'s holdings in Accenture were worth $995,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ACN. Brighton Jones LLC boosted its holdings in shares of Accenture by 36.2% in the fourth quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider's stock valued at $6,486,000 after acquiring an additional 4,905 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Accenture in the fourth quarter valued at approximately $317,000. Texas Yale Capital Corp. boosted its holdings in shares of Accenture by 0.6% in the fourth quarter. Texas Yale Capital Corp. now owns 5,959 shares of the information technology services provider's stock valued at $2,096,000 after acquiring an additional 37 shares in the last quarter. F M Investments LLC acquired a new stake in Accenture during the fourth quarter valued at approximately $206,000. Finally, Phoenix Financial Ltd. lifted its stake in Accenture by 19.7% during the fourth quarter. Phoenix Financial Ltd. now owns 13,361 shares of the information technology services provider's stock valued at $4,701,000 after purchasing an additional 2,198 shares during the last quarter. Institutional investors own 75.14% of the company's stock.

Insider Buying and Selling at Accenture

In other news, CEO Mauro Macchi sold 500 shares of the stock in a transaction on Friday, July 11th. The shares were sold at an average price of $282.34, for a total transaction of $141,170.00. Following the transaction, the chief executive officer owned 2,283 shares in the company, valued at $644,582.22. This represents a 17.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Angela Beatty sold 203 shares of the stock in a transaction on Friday, July 11th. The stock was sold at an average price of $282.34, for a total transaction of $57,315.02. Following the transaction, the insider owned 5,249 shares in the company, valued at approximately $1,482,002.66. This trade represents a 3.72% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,454 shares of company stock worth $1,646,780. Company insiders own 0.02% of the company's stock.

Accenture Stock Down 1.1%

Accenture stock traded down $2.65 during trading hours on Friday, hitting $239.07. The company had a trading volume of 3,810,701 shares, compared to its average volume of 4,579,456. The firm has a market capitalization of $149.74 billion, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 2.18 and a beta of 1.29. 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 moving average is $291.16 and its 200-day moving average is $315.60. Accenture PLC has a fifty-two week low of $238.03 and a fifty-two week high of $398.35.

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, topping the consensus estimate of $3.32 by $0.17. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The company had revenue of $17.73 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same quarter in the prior year, the business posted $3.13 EPS. Accenture's quarterly revenue was up 7.7% on a year-over-year basis. On average, research analysts forecast 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. Stockholders 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 annualized dividend and a dividend yield of 2.5%. Accenture's dividend payout ratio is 47.13%.

Analyst Ratings Changes

Several research firms recently commented on ACN. Barclays cut their target price on shares of Accenture from $390.00 to $360.00 and set an "overweight" rating for the company in a research note on Monday, June 23rd. JPMorgan Chase & Co. increased their target price on shares of Accenture from $349.00 to $353.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. 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 target price for the company. Guggenheim cut their target price on shares of Accenture from $360.00 to $335.00 and set a "buy" rating for the company in a research note on Monday, June 23rd. Finally, Piper Sandler reduced their price target on shares of Accenture from $364.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. 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 issued a strong buy rating to the company. According to MarketBeat, Accenture currently has a consensus rating of "Moderate Buy" and an average price target of $360.21.

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.