Accenture PLC $ACN Stock: Torray Investment Partners LLC Cuts Stake

Torray Investment Partners LLC reduced its position in shares of Accenture PLC (NYSE:ACN) by 16.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 140,467 shares of the information technology services provider’s stock after selling 27,223 shares during the quarter. Accenture accounts for approximately 3.4% of Torray Investment Partners LLC’s holdings, making the stock its 7th biggest position. Torray Investment Partners LLC’s holdings in Accenture were worth $25,757,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Flossbach Von Storch SE bought a new position in shares of Accenture in the 2nd quarter worth approximately $309,873,000. First Trust Advisors LP grew its position in Accenture by 120.0% during the first quarter. First Trust Advisors LP now owns 3,482,150 shares of the information technology services provider’s stock valued at $690,475,000 after buying an additional 1,899,305 shares during the period. Artemis Investment Management LLP grew its position in Accenture by 67.6% during the third quarter. Artemis Investment Management LLP now owns 2,196,789 shares of the information technology services provider’s stock valued at $402,825,000 after buying an additional 885,687 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in Accenture by 319.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,001,809 shares of the information technology services provider’s stock valued at $183,702,000 after buying an additional 762,827 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Accenture during the third quarter valued at approximately $139,839,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Stock Performance

ACN opened at $254.51 on Wednesday. The firm has a market cap of $150.43 billion, a P/E ratio of 18.77, a PEG ratio of 2.00 and a beta of 1.01. Accenture PLC has a 1-year low of $118.15 and a 1-year high of $291.09. The company has a 50 day simple moving average of $205.64 and a two-hundred day simple moving average of $192.19. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.43.

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

Accenture Increases Dividend

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

Insider Buying and Selling at Accenture

In other news, CAO Melissa A. Burgum sold 811 shares of the company’s 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 transaction, the chief accounting officer owned 9,820 shares of the company’s stock, valued at $2,455,000. This represents a 7.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paula A. Price bought 800 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The shares were acquired at an average price of $249.81 per share, with a total value of $199,848.00. Following the transaction, the director directly owned 9,361 shares of the company’s stock, valued at $2,338,471.41. This represents a 9.34% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders sold 8,675 shares of company stock valued at $2,047,563. 0.02% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on ACN. Susquehanna upped their price objective on Accenture from $210.00 to $230.00 and gave the stock a “neutral” rating in a research note on Thursday, October 15th. Citigroup lifted their target price on Accenture from $135.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, August 24th. Weiss Ratings upgraded Accenture from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 21st. Royal Bank Of Canada boosted their price target on Accenture from $175.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, October 2nd. Finally, Guggenheim restated a “neutral” rating on shares of Accenture in a research report on Friday, October 2nd. Ten equities research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $221.07.

About Accenture

Accenture plc is a global professional services company that helps organizations transform their businesses through consulting, technology and managed services. Its work spans strategy and consulting, technology implementation, operations, and interactive customer experiences.

The company provides services in areas including cloud computing, artificial intelligence, cybersecurity, data and analytics, digital engineering, enterprise software, systems integration and business process outsourcing.