Teachers Retirement System of The State of Kentucky Has $15.12 Million Stake in Accenture plc (NYSE:ACN)

Teachers Retirement System of The State of Kentucky trimmed its holdings in Accenture plc (NYSE:ACNGet Rating) by 4.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,841 shares of the information technology services provider’s stock after selling 1,951 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Accenture were worth $15,122,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Paradigm Financial Partners LLC boosted its holdings in shares of Accenture by 0.3% during the fourth quarter. Paradigm Financial Partners LLC now owns 10,429 shares of the information technology services provider’s stock worth $4,323,000 after purchasing an additional 35 shares during the period. BNC Wealth Management LLC boosted its holdings in shares of Accenture by 0.4% during the first quarter. BNC Wealth Management LLC now owns 9,924 shares of the information technology services provider’s stock worth $3,347,000 after purchasing an additional 35 shares during the period. Cadence Bank boosted its holdings in shares of Accenture by 0.7% during the first quarter. Cadence Bank now owns 4,999 shares of the information technology services provider’s stock worth $1,686,000 after purchasing an additional 36 shares during the period. Evoke Wealth LLC boosted its holdings in shares of Accenture by 0.8% during the first quarter. Evoke Wealth LLC now owns 4,907 shares of the information technology services provider’s stock worth $1,655,000 after purchasing an additional 37 shares during the period. Finally, Live Oak Private Wealth LLC lifted its holdings in Accenture by 5.4% in the first quarter. Live Oak Private Wealth LLC now owns 764 shares of the information technology services provider’s stock worth $258,000 after buying an additional 39 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.

Accenture Trading Down 0.4 %

Shares of ACN stock opened at $272.68 on Friday. Accenture plc has a 12-month low of $261.77 and a 12-month high of $417.37. The firm’s 50 day moving average is $295.42 and its 200 day moving average is $301.36. The stock has a market capitalization of $172.48 billion, a P/E ratio of 26.45, a P/E/G ratio of 2.36 and a beta of 1.22.

Accenture (NYSE:ACNGet Rating) last issued its earnings results on Thursday, June 23rd. The information technology services provider reported $2.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.84 by ($0.05). Accenture had a return on equity of 31.50% and a net margin of 11.13%. The company had revenue of $16.16 billion during the quarter, compared to analysts’ expectations of $16.05 billion. During the same quarter in the prior year, the business posted $2.40 EPS. As a group, equities analysts predict that Accenture plc will post 10.67 earnings per share for the current year.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Thursday, July 14th were paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Wednesday, July 13th. Accenture’s dividend payout ratio is presently 37.63%.

Insider Transactions at Accenture

In other news, insider Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction on Friday, July 15th. The shares were sold at an average price of $270.93, for a total transaction of $1,693,312.50. Following the transaction, the insider now owns 159,630 shares in the company, valued at approximately $43,248,555.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction on Friday, July 15th. The shares were sold at an average price of $270.93, for a total transaction of $1,693,312.50. Following the transaction, the insider now owns 159,630 shares in the company, valued at approximately $43,248,555.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Joel Unruch sold 555 shares of Accenture stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $300.00, for a total transaction of $166,500.00. Following the transaction, the general counsel now owns 25,601 shares in the company, valued at approximately $7,680,300. The disclosure for this sale can be found here. Insiders have sold 11,389 shares of company stock worth $3,132,777 in the last 90 days. 0.07% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Royal Bank of Canada lowered their price objective on shares of Accenture from $435.00 to $357.00 and set an “outperform” rating for the company in a report on Friday, June 24th. Jefferies Financial Group lowered their price objective on shares of Accenture from $342.00 to $310.00 and set a “hold” rating for the company in a report on Wednesday. Cowen lowered their price objective on shares of Accenture from $330.00 to $325.00 and set an “outperform” rating for the company in a report on Friday, June 24th. Piper Sandler lowered their price objective on shares of Accenture from $305.00 to $281.00 and set a “neutral” rating for the company in a report on Monday, July 18th. Finally, Robert W. Baird raised their target price on shares of Accenture from $310.00 to $338.00 and gave the company a “neutral” rating in a research note on Tuesday, August 9th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Accenture has a consensus rating of “Moderate Buy” and a consensus target price of $355.63.

Accenture Profile

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Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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