Accenture plc (NYSE:ACN) Shares Sold by Trueblood Wealth Management LLC

Trueblood Wealth Management LLC lessened its position in Accenture plc (NYSE:ACN) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,082 shares of the information technology services provider’s stock after selling 332 shares during the quarter. Accenture comprises about 1.7% of Trueblood Wealth Management LLC’s investment portfolio, making the stock its 4th biggest position. Trueblood Wealth Management LLC’s holdings in Accenture were worth $3,059,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. TrinityPoint Wealth LLC boosted its stake in Accenture by 3.6% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock valued at $1,279,000 after buying an additional 125 shares in the last quarter. Focus Financial Network Inc. ADV bought a new position in shares of Accenture during the fourth quarter worth $4,594,000. New Mexico Educational Retirement Board grew its stake in Accenture by 11.9% in the first quarter. New Mexico Educational Retirement Board now owns 36,750 shares of the information technology services provider’s stock valued at $12,393,000 after acquiring an additional 3,900 shares during the period. Platform Technology Partners increased its stake in Accenture by 7.0% during the 4th quarter. Platform Technology Partners now owns 1,996 shares of the information technology services provider’s stock worth $733,000 after purchasing an additional 131 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Accenture by 13.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 183,446 shares of the information technology services provider’s stock worth $63,584,000 after acquiring an additional 21,516 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Activity at Accenture

In other news, CFO Kathleen R. Mcclure sold 3,000 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $309.22, for a total transaction of $927,660.00. Following the completion of the transaction, the chief financial officer now directly owns 40,070 shares of the company’s stock, valued at approximately $12,390,445.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total value of $1,649,100.00. Following the transaction, the insider now owns 8,989 shares in the company, valued at $2,964,751.98. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kathleen R. Mcclure sold 3,000 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $309.22, for a total value of $927,660.00. Following the sale, the chief financial officer now owns 40,070 shares in the company, valued at $12,390,445.40. The disclosure for this sale can be found here. Insiders sold 21,421 shares of company stock valued at $6,912,635 over the last three months. 0.07% of the stock is owned by corporate insiders.

Accenture Price Performance

Accenture stock opened at $350.12 on Thursday. The stock has a market cap of $219.42 billion, a price-to-earnings ratio of 32.06, a price-to-earnings-growth ratio of 3.60 and a beta of 1.24. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51. The firm has a 50-day moving average of $326.18 and a two-hundred day moving average of $323.82.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing the consensus estimate of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The business had revenue of $16.47 billion during the quarter, compared to analysts’ expectations of $16.55 billion. During the same period in the previous year, the company posted $3.19 earnings per share. Accenture’s revenue for the quarter was down .6% compared to the same quarter last year. Research analysts expect that Accenture plc will post 11.95 earnings per share for the current year.

Accenture Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, July 11th were paid a dividend of $1.29 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $5.16 annualized dividend and a yield of 1.47%. Accenture’s payout ratio is 47.25%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Robert W. Baird cut their price target on shares of Accenture from $372.00 to $345.00 and set a “neutral” rating on the stock in a research report on Thursday, May 16th. Deutsche Bank Aktiengesellschaft lowered Accenture from a “buy” rating to a “hold” rating and decreased their price target for the company from $409.00 to $295.00 in a research note on Wednesday, May 15th. Guggenheim restated a “buy” rating and set a $395.00 price objective on shares of Accenture in a research report on Friday, May 24th. Piper Sandler Companies cut their price objective on Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a research note on Monday, June 17th. Finally, Piper Sandler cut their price target on Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a report on Monday, June 17th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $353.41.

Accenture Profile

Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.