Meiji Yasuda Life Insurance Co Sells 507 Shares of Accenture plc (NYSE:ACN)

Meiji Yasuda Life Insurance Co lowered its position in shares of Accenture plc (NYSE:ACN) by 7.7% during the second quarter, HoldingsChannel.com reports. The fund owned 6,100 shares of the information technology services provider’s stock after selling 507 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Accenture were worth $1,851,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. TD Cowen upped their price target on Accenture from $293.00 to $321.00 and gave the stock a “hold” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. increased their target price on Accenture from $330.00 to $376.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Mizuho lowered their price objective on shares of Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. The Goldman Sachs Group started coverage on shares of Accenture in a report on Monday, June 24th. They set a “neutral” rating and a $335.00 price objective for the company. Finally, Jefferies Financial Group dropped their price target on shares of Accenture from $340.00 to $275.00 and set a “hold” rating on the stock in a research report on Wednesday, June 5th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $354.91.

Insider Activity at Accenture

In related news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total value of $1,649,100.00. Following the completion of the transaction, the insider now directly owns 8,989 shares in the company, valued at approximately $2,964,751.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, General Counsel Joel Unruch sold 8,145 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the completion of the transaction, the general counsel now owns 22,849 shares of the company’s stock, valued at $7,564,161.45. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ellyn Shook sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the completion of the sale, the insider now owns 8,989 shares in the company, valued at $2,964,751.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,421 shares of company stock worth $6,912,635. 0.07% of the stock is owned by corporate insiders.

Accenture Stock Down 4.9 %

Accenture stock opened at $336.93 on Wednesday. The company has a market capitalization of $211.15 billion, a P/E ratio of 30.85, a P/E/G ratio of 3.82 and a beta of 1.24. The firm has a 50 day moving average price of $329.94 and a 200-day moving average price of $322.59. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51.

Accenture (NYSE:ACN) last released its earnings results 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). The firm had revenue of $16.47 billion during the quarter, compared to analysts’ expectations of $16.55 billion. Accenture had a return on equity of 27.48% and a net margin of 10.79%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.19 earnings per share. Equities analysts expect that Accenture plc will post 11.95 EPS for the current fiscal year.

Accenture Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th were paid a $1.29 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $5.16 annualized dividend and a dividend yield of 1.53%. Accenture’s payout ratio is 47.25%.

About Accenture

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.