Accenture PLC $ACN Position Reduced by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its stake in shares of Accenture PLC (NYSE:ACN) by 43.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 378,009 shares of the information technology services provider’s stock after selling 288,648 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of Accenture worth $69,316,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Flossbach Von Storch SE bought a new position in shares of Accenture during the 2nd quarter worth approximately $309,873,000. First Trust Advisors LP grew its position in shares of Accenture by 120.0% during the 1st quarter. First Trust Advisors LP now owns 3,482,150 shares of the information technology services provider’s stock worth $690,475,000 after buying an additional 1,899,305 shares during the period. Pzena Investment Management LLC grew its position in shares of Accenture by 17.7% during the 3rd quarter. Pzena Investment Management LLC now owns 6,054,682 shares of the information technology services provider’s stock worth $1,110,247,000 after buying an additional 912,506 shares during the period. Artemis Investment Management LLP increased its stake in shares of Accenture by 67.6% in the 3rd 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 acquiring an additional 885,687 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Accenture by 319.2% in the 3rd 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 acquiring an additional 762,827 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

Accenture Price Performance

Shares of Accenture stock opened at $254.34 on Tuesday. Accenture PLC has a 12-month low of $118.15 and a 12-month high of $291.09. The firm has a market cap of $150.33 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 2.03 and a beta of 1.01. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. The company’s fifty day simple moving average is $211.64 and its two-hundred day simple moving average is $191.77.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, October 1st. The information technology services provider reported $3.29 earnings per share (EPS) 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 firm had revenue of $18.68 billion for the quarter, compared to analysts’ expectations of $18.03 billion. During the same period in the previous year, the firm earned $3.03 earnings per share. The business’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. As a group, equities analysts expect that Accenture PLC will post 14.68 EPS 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 paid a $1.71 dividend. This is an increase from Accenture’s previous quarterly dividend of $1.63. The ex-dividend date is Tuesday, October 13th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.7%. Accenture’s dividend payout ratio (DPR) is 50.44%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Stifel Nicolaus set a $242.00 price objective on shares of Accenture in a report on Thursday, October 15th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Accenture from $136.00 to $175.00 and gave the company a “hold” rating in a research note on Friday, September 18th. Citigroup raised their price objective on shares of Accenture from $135.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, August 24th. Argus increased their price objective on shares of Accenture from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. Finally, Wells Fargo & Company boosted their target price on shares of Accenture from $210.00 to $252.00 and gave the company an “equal weight” rating in a research report on Monday, October 26th. Ten investment analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $221.07.

Insider Buying and Selling

In related news, CAO Melissa Burgum sold 811 shares of the company’s stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $250.00, for a total transaction of $202,750.00. Following the completion of the sale, the chief accounting officer owned 9,820 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Julie Sweet bought 12,200 shares of the stock in a transaction on Monday, October 26th. The stock was purchased at an average cost of $245.99 per share, for a total transaction of $3,001,078.00. Following the acquisition, the chief executive officer owned 48,910 shares of the company’s stock, valued at $12,031,370.90. This trade represents a 33.23% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 18,675 shares of company stock valued at $4,747,563 over the last ninety days. 0.02% of the stock is owned by insiders.

Accenture 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.

Accenture traces its roots to the consulting business of accounting firm Arthur Andersen.