Arvest Trust Co. N A Has $15.89 Million Position in Accenture plc (NYSE:ACN)

Arvest Trust Co. N A lessened its holdings in shares of Accenture plc (NYSE:ACN) by 4.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 52,361 shares of the information technology services provider’s stock after selling 2,407 shares during the quarter. Arvest Trust Co. N A’s holdings in Accenture were worth $15,887,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Unique Wealth Strategies LLC bought a new stake in shares of Accenture in the second quarter valued at about $26,000. Annapolis Financial Services LLC raised its holdings in shares of Accenture by 507.7% in the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after buying an additional 66 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Accenture in the 2nd quarter valued at $28,000. Ables Iannone Moore & Associates Inc. acquired a new position in Accenture in the fourth quarter valued at about $29,000. Finally, Atwood & Palmer Inc. grew its stake in Accenture by 214.8% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after buying an additional 58 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ACN shares. Barclays reduced their target price on Accenture from $390.00 to $350.00 and set an “overweight” rating on the stock in a report on Monday, June 17th. Susquehanna decreased their target price on Accenture from $360.00 to $350.00 and set a “neutral” rating on the stock in a report on Friday, June 21st. BMO Capital Markets cut their price target on Accenture from $375.00 to $350.00 and set a “market perform” rating for the company in a report on Friday, June 21st. Bank of America decreased their price objective on shares of Accenture from $419.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Finally, Mizuho dropped their target price on shares of Accenture from $398.00 to $350.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $354.68.

Accenture Stock Up 1.3 %

Accenture stock opened at $354.12 on Tuesday. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51. The company has a 50 day moving average of $329.17 and a 200-day moving average of $322.90. The stock has a market capitalization of $221.92 billion, a PE ratio of 32.43, a price-to-earnings-growth ratio of 3.82 and a beta of 1.24.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). Accenture had a return on equity of 27.48% and a net margin of 10.79%. The firm had revenue of $16.47 billion for the quarter, compared to the consensus estimate of $16.55 billion. During the same quarter in the previous year, the business posted $3.19 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts anticipate that Accenture plc will post 11.95 EPS for the current fiscal 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 given a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Thursday, July 11th. Accenture’s dividend payout ratio is currently 47.25%.

Insider Activity at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 3,776 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the transaction, the chief executive officer now owns 11,819 shares of the company’s stock, valued at approximately $3,652,661.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Julie Spellman Sweet sold 3,776 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.05, for a total value of $1,166,972.80. Following the sale, the chief executive officer now directly owns 11,819 shares of the company’s stock, valued at approximately $3,652,661.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kathleen R. Mcclure sold 3,000 shares of the business’s 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 transaction, the chief financial officer now directly owns 40,070 shares in the company, valued at approximately $12,390,445.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,421 shares of company stock valued at $6,912,635. Insiders own 0.07% of the company’s stock.

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.