Aspiriant LLC has significantly reduced its investment in Accenture PLC (NYSE: ACN) by selling 2,319 shares during the third quarter of 2024. This move has lowered the firm’s stake in the global professional services company by an impressive 73.2%. Following these transactions, Aspiriant LLC now holds 847 shares valued at approximately $209,000, as disclosed in a recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made adjustments to their holdings of Accenture. Notably, Investors Research Corp increased its position by 73.8% during the same quarter, acquiring a total of 106 shares worth around $26,000. Similarly, Harbor Capital Advisors Inc. raised its stake by 132.6%, bringing its total to 107 shares valued at $26,000. Other firms, including Davis Capital Management and Elevation Wealth Partners LLC, have also entered new positions or increased existing ones, highlighting a dynamic shift in institutional interest in Accenture. Currently, institutional investors and hedge funds own approximately 75.14% of Accenture’s stock.
Insider Transactions and Market Reactions
In addition to institutional shifts, notable insider transactions have occurred within Accenture. On January 7, 2024, CEO Mauro Macchi sold 500 shares at an average price of $280.00, totaling $140,000. This sale reduced Macchi’s ownership of Accenture shares to 7,623, valued at around $2,134,440. Earlier in the quarter, on October 22, 2024, CEO Ryoji Sekido sold 2,500 shares for a total of $623,675.00, which marked a 64.27% reduction in his stake. Over the past three months, insiders have sold a total of 35,151 shares valued at approximately $8,841,525. Currently, insiders hold only 0.02% of the company’s stock.
Market analysts have also weighed in on the stock, adjusting their price targets for Accenture. On September 24, BNP Paribas Exane lowered its target from $300.00 to $255.00, assigning a “neutral” rating. Conversely, Wells Fargo & Company initiated coverage with an “equal weight” rating and a target price of $251.00. A more positive outlook came from Susquehanna, which raised its target from $270.00 to $277.00, retaining a “neutral” rating. The consensus among analysts is that Accenture holds a “Moderate Buy” rating, with a price target averaging $295.84.
Accenture’s Financial Performance
Accenture’s stock opened at $281.13 on Tuesday, reflecting its robust market capitalization of $173.07 billion. The company reported earnings of $3.94 per share for its most recent quarter, exceeding analysts’ expectations of $3.73 by $0.21. Revenue for the quarter reached $18.74 billion, surpassing estimates of $18.51 billion. Year over year, this represents a 5.7% increase in revenue, while the return on equity stood at 26.65% with a net margin of 10.76%.
Looking ahead, Accenture has set its fiscal year 2026 guidance at an earnings per share range of 13.520-13.900. Analysts project the company will achieve an earnings per share of 12.73 for the current year.
In addition to its strong financial results, Accenture recently announced a quarterly dividend of $1.63 per share, which will be paid on February 13, 2024. Investors on record as of January 13, 2024, will qualify for this dividend, which translates to an annualized payout of $6.52 and a yield of 2.3%. The company’s payout ratio currently stands at 53.88%.
Accenture is recognized globally for its diverse range of services, spanning strategy, consulting, digital, technology, and operations. The firm partners with organizations across various sectors to implement business transformation programs and enhance operational efficiency, employing a mix of consulting expertise and proprietary technology solutions.