King Luther Capital Management Corp Sells 3,493 Shares of Accenture PLC $ACN

King Luther Capital Management Corp reduced its position in shares of Accenture PLC (NYSE:ACN) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 175,912 shares of the information technology services provider’s stock after selling 3,493 shares during the period. King Luther Capital Management Corp’s holdings in Accenture were worth $47,197,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Jaffetilchin Investment Partners LLC raised its holdings in Accenture by 4.2% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 878 shares of the information technology services provider’s stock valued at $236,000 after buying an additional 35 shares during the last quarter. Clayton Financial Group LLC raised its holdings in Accenture by 13.1% during the 4th quarter. Clayton Financial Group LLC now owns 329 shares of the information technology services provider’s stock valued at $88,000 after buying an additional 38 shares during the last quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. increased its position in Accenture by 0.9% during the 3rd quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 4,416 shares of the information technology services provider’s stock valued at $1,089,000 after purchasing an additional 41 shares during the period. SkyView Investment Advisors LLC increased its position in Accenture by 1.2% during the 2nd quarter. SkyView Investment Advisors LLC now owns 3,751 shares of the information technology services provider’s stock valued at $1,108,000 after purchasing an additional 43 shares during the period. Finally, Peak Asset Management LLC increased its position in Accenture by 0.8% during the 4th quarter. Peak Asset Management LLC now owns 5,447 shares of the information technology services provider’s stock valued at $1,461,000 after purchasing an additional 43 shares during the period. 75.14% of the stock is owned by institutional investors.

Insider Buying and Selling at Accenture

In other news, CEO Atsushi Egawa sold 4,872 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $177.14, for a total value of $863,026.08. Following the sale, the chief executive officer directly owned 12,802 shares of the company’s stock, valued at $2,267,746.28. This represents a 27.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. HSBC reduced their price objective on shares of Accenture from $220.00 to $210.00 and set a “hold” rating on the stock in a research report on Tuesday, April 14th. JPMorgan Chase & Co. boosted their price objective on shares of Accenture from $243.00 to $247.00 and gave the company an “overweight” rating in a research report on Friday, March 20th. UBS Group reissued a “buy” rating on shares of Accenture in a research report on Tuesday, March 17th. Piper Sandler set a $282.00 price objective on shares of Accenture in a research report on Thursday, March 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Accenture from $280.00 to $230.00 and set a “hold” rating on the stock in a research report on Friday, March 6th. Seventeen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $274.50.

Accenture Stock Down 1.0%

NYSE:ACN opened at $177.52 on Wednesday. The firm’s 50-day moving average price is $186.71 and its 200-day moving average price is $227.71. The company has a market capitalization of $118.13 billion, a PE ratio of 14.54, a P/E/G ratio of 1.70 and a beta of 1.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.34 and a quick ratio of 1.34. Accenture PLC has a 1-year low of $155.82 and a 1-year high of $321.77.

Accenture (NYSE:ACN) last released its earnings results on Friday, March 20th. The information technology services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $18.04 billion for the quarter, compared to the consensus estimate of $17.80 billion. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.82 EPS. On average, equities analysts predict that Accenture PLC will post 13.87 EPS for the current fiscal year.

Accenture Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 9th were given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.7%. Accenture’s dividend payout ratio is currently 53.40%.

Accenture Profile

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.