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TD Asset Management Inc. Sells 222,614 Shares of Accenture Plc (NYSE:ACN)

Financial News Live · Jan 28, 2023 13:01

TD Asset Management Inc. lowered its holdings in shares of Accenture plc (NYSE:ACN – Get Rating) by 15.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,184,031 shares of the information technology services provider's stock after selling 222,614 shares during the quarter. TD Asset Management Inc.'s holdings in Accenture were worth $305,799,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Tsfg LLC lifted its position in Accenture by 108.7% during the third quarter. Tsfg LLC now owns 96 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Schubert & Co lifted its position in Accenture by 71.6% during the second quarter. Schubert & Co now owns 115 shares of the information technology services provider's stock valued at $32,000 after purchasing an additional 48 shares during the last quarter. Norwood Financial Corp purchased a new stake in shares of Accenture in the third quarter valued at $32,000. Cowa LLC purchased a new stake in shares of Accenture in the third quarter valued at $37,000. Finally, Urban Wealth Management LLC purchased a new stake in shares of Accenture in the second quarter valued at $39,000. Institutional investors own 73.97% of the company's stock.

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Insider Activity

In related news, Director Paula A. Price sold 750 shares of Accenture stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $258.77, for a total value of $194,077.50. Following the completion of the sale, the director now directly owns 6,697 shares in the company, valued at approximately $1,732,982.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Paula A. Price sold 750 shares of Accenture stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $258.77, for a total value of $194,077.50. Following the completion of the sale, the director now directly owns 6,697 shares in the company, valued at approximately $1,732,982.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Julie Spellman Sweet sold 10,296 shares of Accenture stock in a transaction that occurred on Friday, January 13th. The stock was sold at an average price of $280.93, for a total transaction of $2,892,455.28. Following the completion of the sale, the chief executive officer now owns 44,158 shares of the company's stock, valued at $12,405,306.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,615 shares of company stock worth $13,115,191. Corporate insiders own 0.08% of the company's stock.

Accenture Price Performance

Shares of Accenture stock opened at $277.27 on Friday. Accenture plc has a 1 year low of $242.95 and a 1 year high of $360.10. The firm's 50-day moving average is $279.71 and its two-hundred day moving average is $282.02. The stock has a market cap of $174.75 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 2.52 and a beta of 1.23.

Accenture (NYSE:ACN – Get Rating) last released its quarterly earnings results on Friday, December 16th. The information technology services provider reported $3.08 earnings per share for the quarter, beating analysts' consensus estimates of $2.91 by $0.17. Accenture had a net margin of 11.31% and a return on equity of 31.49%. The business had revenue of $15.75 billion for the quarter, compared to analysts' expectations of $15.58 billion. On average, equities analysts expect that Accenture plc will post 11.46 earnings per share for the current year.

Accenture Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Tuesday, January 10th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Wednesday, January 11th. Accenture's dividend payout ratio is currently 40.69%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ACN shares. StockNews.com raised shares of Accenture from a "hold" rating to a "buy" rating in a research note on Thursday, January 12th. Cowen increased their target price on shares of Accenture from $295.00 to $300.00 in a research note on Monday, December 19th. JPMorgan Chase & Co. increased their target price on shares of Accenture from $306.00 to $327.00 in a research note on Thursday, December 15th. Jefferies Financial Group reduced their price target on shares of Accenture from $290.00 to $279.00 in a research note on Monday, December 19th. Finally, Robert W. Baird reduced their price target on shares of Accenture from $310.00 to $290.00 and set a "neutral" rating on the stock in a research note on Monday, December 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Accenture presently has an average rating of "Moderate Buy" and a consensus target price of $326.78.

About Accenture

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Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following geographical segments: North America, Europe and Growth Markets. The company was founded in 1989 and is headquartered in Dublin, Ireland.