Central Pacific Bank Trust Division Invests $89,000 in Accenture plc (NYSE:ACN)

Central Pacific Bank Trust Division acquired a new position in Accenture plc (NYSE:ACN) in the 1st quarter, HoldingsChannel reports. The firm acquired 263 shares of the information technology services provider’s stock, valued at approximately $89,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Rinkey Investments purchased a new stake in shares of Accenture in the first quarter worth approximately $713,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of Accenture by 3.9% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 43,111 shares of the information technology services provider’s stock valued at $14,942,000 after acquiring an additional 1,638 shares during the last quarter. Whittier Trust Co. increased its position in shares of Accenture by 1.3% during the first quarter. Whittier Trust Co. now owns 99,278 shares of the information technology services provider’s stock valued at $34,409,000 after acquiring an additional 1,231 shares during the last quarter. Suncoast Equity Management increased its position in shares of Accenture by 3.1% during the first quarter. Suncoast Equity Management now owns 130,999 shares of the information technology services provider’s stock valued at $45,406,000 after acquiring an additional 3,951 shares during the last quarter. Finally, Pegasus Asset Management Inc. increased its position in shares of Accenture by 0.3% during the first quarter. Pegasus Asset Management Inc. now owns 18,503 shares of the information technology services provider’s stock valued at $6,413,000 after acquiring an additional 47 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Trading Down 0.9 %

ACN opened at $295.48 on Thursday. The company has a market cap of $185.18 billion, a P/E ratio of 27.06, a P/E/G ratio of 3.34 and a beta of 1.23. The business’s 50-day moving average price is $299.02 and its 200-day moving average price is $333.68. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing the consensus estimate of $3.15 by ($0.02). Accenture had a return on equity of 27.48% and a net margin of 10.79%. The company had revenue of $16.47 billion during the quarter, compared to analysts’ expectations of $16.55 billion. During the same quarter in the prior year, the firm posted $3.19 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts forecast that Accenture plc will post 11.95 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 11th will be issued a dividend of $1.29 per share. The ex-dividend date is Thursday, July 11th. This represents a $5.16 dividend on an annualized basis and a yield of 1.75%. Accenture’s dividend payout ratio is presently 47.25%.

Insider Activity at Accenture

In other Accenture news, CEO Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the sale, the chief executive officer now directly owns 161,581 shares of the company’s stock, valued at approximately $51,045,053.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Accenture news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the sale, the insider now directly owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $315.91, for a total value of $1,974,437.50. Following the sale, the chief executive officer now directly owns 161,581 shares in the company, valued at $51,045,053.71. The disclosure for this sale can be found here. Insiders have sold a total of 20,083 shares of company stock worth $6,302,285 in the last 90 days. Company insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

ACN has been the subject of a number of recent research reports. Wedbush decreased their target price on Accenture from $400.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, June 12th. Redburn Atlantic raised their price target on Accenture from $410.00 to $445.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. TD Cowen cut their price target on Accenture from $294.00 to $293.00 and set a “hold” rating for the company in a report on Friday, June 21st. The Goldman Sachs Group assumed coverage on Accenture in a research note on Monday, June 24th. They set a “neutral” rating and a $335.00 price objective for the company. Finally, Royal Bank of Canada lifted their price objective on Accenture from $374.00 to $381.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $351.82.

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.