Aspiriant LLC has significantly reduced its investment in Accenture PLC (NYSE:ACN), selling 2,319 shares and decreasing its stake by 73.2% during the third quarter of 2023. Following this transaction, Aspiriant now holds 847 shares valued at approximately $209,000, according to its latest filing with the Securities and Exchange Commission (SEC).
This move comes as several institutional investors have also adjusted their positions in Accenture. For instance, Investors Research Corp increased its stake by 73.8%, acquiring an additional 45 shares for a total of 106 shares, worth around $26,000. Similarly, Harbor Capital Advisors Inc. raised its investment by 132.6%, owning 107 shares valued at $26,000 after purchasing 61 shares in the last quarter.
Heartwood Wealth Advisors LLC and Elevation Wealth Partners LLC have also made notable changes to their Accenture holdings. Heartwood acquired a new position valued at approximately $32,000, while Elevation Wealth Partners increased its stake by 146.0%, now owning 123 shares worth $30,000. Overall, institutional investors and hedge funds control 75.14% of Accenture’s stock.
Insider Activity and Market Reactions
In related news, Accenture’s CEO, Mauro Macchi, sold 500 shares at an average price of $280.00 on January 7, 2024. This sale totaled $140,000 and reduced his ownership to 7,623 shares, now valued at approximately $2,134,440. Another significant transaction involved CEO Ryoji Sekido, who sold 2,500 shares on October 22, 2023, at an average price of $249.47, amounting to $623,675.00. After this sale, Sekido held 1,390 shares valued at $346,763.30. In total, insiders have sold 35,151 shares worth $8,841,525 over the past three months.
Analysts’ Insights and Stock Performance
Market analysts have recently revised their price targets for Accenture shares. BNP Paribas Exane lowered its target from $300.00 to $255.00 with a “neutral” rating. Wells Fargo & Company initiated coverage with an “equal weight” rating and a target price of $251.00. In contrast, Susquehanna increased its target from $270.00 to $277.00, maintaining a “neutral” rating.
As of the latest trading session, Accenture’s stock opened at $281.13, reflecting a 0.2% increase. The company boasts a market capitalization of $173.07 billion and a price-to-earnings ratio of 23.23. Accenture’s stock has fluctuated between a 52-week low of $229.40 and a high of $398.35.
Accenture recently reported its quarterly earnings on December 18, 2023, announcing earnings per share (EPS) of $3.94, surpassing analyst expectations of $3.73 by $0.21. The company generated revenues of $18.74 billion for the quarter, exceeding estimates of $18.51 billion. This represents a 5.7% increase in revenue compared to the same quarter last year.
In addition to its robust earnings, Accenture declared a quarterly dividend of $1.63 per share, scheduled for payment on February 13, 2024. The ex-dividend date is set for January 13, 2024. This translates to an annualized dividend of $6.52 and a dividend yield of 2.3%, with a payout ratio of 53.88%.
Accenture PLC continues to be a significant player in the global professional services sector, offering a wide range of services in consulting, technology, and operations. With ongoing adjustments from institutional investors and promising financial performance, the company remains a focal point for analysts and investors alike.
