CenterBook Partners LP Trims Stock Position in Accenture PLC $ACN

CenterBook Partners LP reduced its stake in shares of Accenture PLC (NYSE:ACN) by 37.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,967 shares of the information technology services provider’s stock after selling 7,089 shares during the quarter. CenterBook Partners LP’s holdings in Accenture were worth $3,211,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ACN. Brighton Jones LLC increased its position in Accenture by 36.2% during the 4th quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider’s stock valued at $6,486,000 after purchasing an additional 4,905 shares during the period. Sivia Capital Partners LLC increased its position in Accenture by 46.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,066 shares of the information technology services provider’s stock valued at $618,000 after purchasing an additional 660 shares during the period. United Bank increased its position in Accenture by 49.8% during the 2nd quarter. United Bank now owns 3,639 shares of the information technology services provider’s stock valued at $1,088,000 after purchasing an additional 1,209 shares during the period. Bank of Nova Scotia increased its position in Accenture by 23.0% during the 2nd quarter. Bank of Nova Scotia now owns 828 shares of the information technology services provider’s stock valued at $247,000 after purchasing an additional 155 shares during the period. Finally, Main Street Financial Solutions LLC increased its position in Accenture by 4.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 1,767 shares of the information technology services provider’s stock valued at $528,000 after purchasing an additional 72 shares during the period. 75.14% of the stock is owned by hedge funds and other institutional investors.

Key Accenture News

Here are the key news stories impacting Accenture this week:

• Positive Sentiment: Accenture announced a new AI Adoption Maturity Model with Carnegie Mellon University’s Software Engineering Institute, a move that could strengthen its positioning as a trusted enterprise AI consulting partner and support future services demand. Article: Accenture and the Carnegie Mellon University Software Engineering Institute Launch AI Adoption Maturity Model to Help Organizations Scale AI with Predictable Outcomes
• Positive Sentiment: Analysts at JPMorgan and TD Cowen maintained bullish ratings on Accenture despite trimming price targets, signaling continued confidence in the company’s long-term fundamentals and upside from current levels. Article: JPMorgan adjusts price target on Accenture to 201 from 247 maintains overweight rating Article: TD Cowen adjusts price target on Accenture to 258 from 282 maintains buy rating
• Positive Sentiment: Accenture’s planned acquisition of Whalar, a leading creator and social agency, suggests it is expanding capabilities in digital marketing and creator-led services, which could broaden its growth opportunities. Article: Accenture to Acquire Leading Creator and Social Agency Whalar, from Whalar Group
• Neutral Sentiment: Commentary pieces emphasized Accenture as a major player in enterprise AI and highlighted its debt-free balance sheet, but these were mostly strategic overviews rather than new financial catalysts. Article: Is Accenture (ACN) Turning AI Readiness Consulting Into a Defensible Edge in Enterprise Services? Article: Accenture Plc (ACN): A Debt-Free IT Stock Expanding AI Capabilities Despite Downgrade
• Negative Sentiment: Accenture shares were pressured by a stock decline versus a broadly firmer market, indicating weak near-term investor sentiment around the name. Article: Accenture (ACN) Stock Falls Amid Market Uptick: What Investors Need to Know
• Negative Sentiment: A recent Truist downgrade noted concerns about constrained client budgets and competitive pressures, reinforcing worries that consulting demand may remain uneven in the near term. Article: Accenture Plc (ACN): A Debt-Free IT Stock Expanding AI Capabilities Despite Downgrade

Accenture Stock Performance

Shares of Accenture stock opened at $174.42 on Tuesday. The stock has a market cap of $116.06 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 1.69 and a beta of 1.09. The firm’s 50-day moving average is $183.86 and its 200 day moving average is $223.76. Accenture PLC has a 1 year low of $155.82 and a 1 year high of $321.77. 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 (NYSE:ACN) last announced its quarterly earnings results on Friday, March 20th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $18.04 billion for the quarter, compared to analysts’ expectations of $17.80 billion. Accenture had a net margin of 10.61% and a return on equity of 26.33%. Accenture’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.82 EPS. Sell-side analysts anticipate that Accenture PLC will post 13.88 EPS for the current fiscal year.

Accenture Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ACN. The Goldman Sachs Group reduced their target price on shares of Accenture from $300.00 to $270.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Guggenheim reduced their target price on shares of Accenture from $275.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, March 20th. HSBC reduced their target price 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. Wells Fargo & Company reduced their target price on shares of Accenture from $275.00 to $248.00 and set an “overweight” rating on the stock in a research report on Thursday, June 4th. Finally, Oppenheimer set a $201.00 target price on shares of Accenture in a research report on Monday. Seventeen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $260.81.

Insider Transactions at Accenture

In related 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 transaction, the chief executive officer owned 12,802 shares in the company, valued at $2,267,746.28. The trade was a 27.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is currently owned by insiders.

Accenture Company 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.