Cresset Asset Management LLC Trims Stock Position in Accenture PLC $ACN

Cresset Asset Management LLC trimmed its stake in Accenture PLC (NYSE:ACN) by 9.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,650 shares of the information technology services provider’s stock after selling 8,536 shares during the period. Cresset Asset Management LLC’s holdings in Accenture were worth $25,301,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of Accenture during the first quarter worth about $31,000. RMG Wealth Management LLC purchased a new position in Accenture during the 2nd quarter worth approximately $33,000. WPG Advisers LLC acquired a new position in Accenture during the first quarter worth approximately $42,000. Traub Capital Management LLC purchased a new stake in Accenture in the second quarter valued at approximately $45,000. Finally, Nova Wealth Management Inc. acquired a new stake in shares of Accenture in the first quarter valued at approximately $49,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Price Performance

Shares of ACN opened at $269.31 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average is $247.47 and its two-hundred day moving average is $267.46. Accenture PLC has a twelve month low of $229.40 and a twelve month high of $398.35. The firm has a market capitalization of $177.33 billion, a PE ratio of 22.17, a P/E/G ratio of 2.59 and a beta of 1.26.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, September 25th. The information technology services provider reported $3.03 EPS for the quarter, beating the consensus estimate of $2.98 by $0.05. Accenture had a return on equity of 26.45% and a net margin of 11.02%.The business had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $17.34 billion. During the same period last year, the firm earned $2.66 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. Accenture has set its FY 2026 guidance at 13.190-13.570 EPS. Research analysts anticipate that Accenture PLC will post 12.73 earnings per share for the current year.

Accenture Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 10th were issued a $1.63 dividend. The ex-dividend date was Friday, October 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from Accenture’s previous quarterly dividend of $1.48. Accenture’s payout ratio is 53.66%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Royal Bank Of Canada reduced their price target on shares of Accenture from $372.00 to $285.00 and set an “outperform” rating for the company in a research report on Friday, September 26th. BNP Paribas Exane reduced their target price on shares of Accenture from $300.00 to $255.00 and set a “neutral” rating for the company in a report on Wednesday, September 24th. Jefferies Financial Group reissued a “hold” rating on shares of Accenture in a report on Tuesday, September 30th. Mizuho reduced their price objective on Accenture from $348.00 to $309.00 and set an “outperform” rating for the company in a research note on Monday, September 29th. Finally, Cowen reaffirmed a “buy” rating on shares of Accenture in a research report on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $294.25.

Insider Activity at Accenture

In related news, insider Manish Sharma sold 6,902 shares of the business’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $250.01, for a total transaction of $1,725,569.02. Following the sale, the insider owned 1,860 shares of the company’s stock, valued at approximately $465,018.60. The trade was a 78.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Julie Spellman Sweet sold 5,917 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $246.62, for a total transaction of $1,459,250.54. Following the completion of the transaction, the chief executive officer directly owned 8,599 shares of the company’s stock, valued at approximately $2,120,685.38. This trade represents a 40.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 33,319 shares of company stock worth $8,335,225 over the last 90 days. Company insiders own 0.02% of the company’s stock.

Accenture Company 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.