Accenture PLC $ACN Stake Trimmed by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its position in shares of Accenture PLC (NYSE:ACN) by 7.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,714 shares of the information technology services provider’s stock after selling 5,089 shares during the quarter. King Luther Capital Management Corp’s holdings in Accenture were worth $11,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Dogwood Wealth Management LLC lifted its position in shares of Accenture by 147.1% during the second quarter. Dogwood Wealth Management LLC now owns 215 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 128 shares in the last quarter. IMG Wealth Management Inc. grew its position in Accenture by 134.8% in the 1st quarter. IMG Wealth Management Inc. now owns 155 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 89 shares in the last quarter. Foresight Capital Management Advisors Inc. bought a new stake in Accenture in the 3rd quarter worth about $31,000. Signature Equity Partners LLC increased its stake in Accenture by 50.9% in the 3rd quarter. Signature Equity Partners LLC now owns 172 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 58 shares during the last quarter. Finally, Arlington Trust Co LLC increased its stake in Accenture by 110.4% in the 2nd quarter. Arlington Trust Co LLC now owns 284 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 149 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Accenture from $179.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, September 25th. Susquehanna upped their target price on Accenture from $210.00 to $230.00 and gave the company a “neutral” rating in a report on Thursday, October 15th. Wells Fargo & Company increased their price target on Accenture from $210.00 to $252.00 and gave the company an “equal weight” rating in a research report on Monday, October 26th. Morgan Stanley lifted their price target on Accenture from $175.00 to $195.00 and gave the stock an “equal weight” rating in a report on Friday, October 2nd. Finally, Deutsche Bank boosted their price objective on Accenture from $136.00 to $175.00 and gave the stock a “hold” rating in a research report on Friday, September 18th. Ten research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $221.07.

Accenture Trading Down 1.4%

NYSE:ACN opened at $250.20 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $147.88 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 1.95 and a beta of 1.01. The firm’s 50 day moving average is $215.58 and its 200 day moving average is $191.35. Accenture PLC has a 12 month low of $118.15 and a 12 month high of $291.09.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, October 1st. The information technology services provider reported $3.29 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.11. Accenture had a return on equity of 26.53% and a net margin of 11.28%. The business had revenue of $18.68 billion during the quarter, compared to analyst estimates of $18.03 billion. During the same period in the prior year, the company earned $3.03 earnings per share. Accenture’s revenue was up 6.2% compared to the same quarter last year. Accenture has set its FY 2027 guidance at 14.390-14.810 EPS. Sell-side analysts expect that Accenture PLC will post 14.68 earnings per share for the current year.

Accenture Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 13th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.7%. This is a boost from Accenture’s previous quarterly dividend of $1.63. Accenture’s payout ratio is currently 50.44%.

Insider Activity at Accenture

In related news, CAO Melissa Burgum sold 811 shares of Accenture stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $250.00, for a total value of $202,750.00. Following the completion of the sale, the chief accounting officer owned 9,820 shares of the company’s stock, valued at approximately $2,455,000. This trade represents a 7.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Atsushi Egawa sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $270.00, for a total value of $2,700,000.00. Following the completion of the sale, the chief executive officer owned 5,996 shares in the company, valued at $1,618,920. This represents a 62.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 18,675 shares of company stock worth $4,747,563 in the last three months. Corporate insiders own 0.02% of the company’s stock.

Accenture Company Profile

Accenture plc is a global professional services company that helps businesses, governments and other organizations solve operational and technology challenges. Its work includes strategy and management consulting, digital transformation, systems integration and the design, implementation and management of technology solutions. The company serves clients across a broad range of industries and geographies. Its services span cloud computing, data and artificial intelligence, cybersecurity, software and platforms, business process operations, and digital marketing and customer experience.