DAVENPORT 13F: Cuts Accenture (ACN) Stake by $88M

Institutional investor Davenport pared back its investment in Accenture plc (NYSE: ACN) during the period, according to a Form 13F filing with the SEC on October 14, 2026. Keep in mind that 13F filings look backward at a quarter that has already ended, so these figures reflect past positioning and might not match what the fund holds today.

What Changed in Davenport's Accenture Position

Davenport sold off 481,931 shares of Accenture during the period, marking a 58.6% decrease from its previous count of 823,014 shares. The firm ended the quarter with 341,083 shares in the IT consulting giant, with the remaining stake valued at $61,967,640.

Other Institutional Activity in Accenture

Other large money managers also adjusted their stakes in the consulting firm during recent reporting cycles. Blackrock Inc. grew its holdings by 5,022,586 shares, ending with 62,162,363 shares worth about $14,277,451,078. Vanguard Capital Management LLC added 111,950 shares to hold 40,094,187 shares valued at roughly $9,208,832,576 after a 0.3% boost. State Street Corporation lifted its position by 1,962,054 shares for a total of 30,773,423 shares worth about $7,068,039,569, up 6.8%. Charles Schwab Investment Management, Inc. grew its holdings by 2,072,997 shares, finishing with 21,574,383 shares valued at $4,955,204,129 following a 10.6% increase. Vanguard Portfolio Management LLC grew its holdings by 383,357 shares, ending with 19,942,387 shares worth about $4,580,367,300, a 2.0% raise.

Accenture plc Stock Up 5.2%

Accenture shares recently traded around $226.12 as of October 16, 2026. That puts the stock up about 20.3% since crossing its 50-day moving average and 17.1% above its 200-day moving average, though it remains 22.3% below its 52-week peak of $291.09.

Recent Earnings

The company reported trailing-twelve-month revenue of $74,183,442,432 alongside earnings of $13.56 per share. Accenture posted a net profit margin of 11.3% and a return on equity of 26.0%, with revenue growing 6.2% year-over-year. The company's next earnings report is scheduled for December 17, 2026.

Dividend

Accenture offers an annual dividend yield of 3.04%, backed by a payout ratio of 50.9%.

Insider Buying and Selling at Accenture plc

Company insiders have also transacted in shares recently. On August 14, 2026, Katherine Lee Clifford sold 68 shares at an average price of $175.98 for a total of $11,966. Later, on October 12, 2026, Chief Operating Officer Hogan Catherine Kiernan sold 700 shares at a price of $214.24 under a planned trading program, totaling $149,965.34. Another filing on the same date noted a separate 700-share sale by Catherine Kiernan Hogan valued at $149,965.

Analysts Set New Price Targets

Wall Street firms updated their outlooks on the stock at the start of October. On October 2, 2026, Goldman Sachs maintained its Buy rating while lifting its price target from $230.00 to $260.00. Truist Securities maintained a Hold rating on October 2, 2026, raising its target from $150.00 to $220.00. Wells Fargo maintained an Equal-Weight rating on October 2, 2026, bumping its target from $194.00 to $210.00. TD Cowen maintained a Hold rating on October 2, 2026, raising its target from $173.00 to $193.00. Mizuho maintained an Outperform rating on October 6, 2026, lifting its target from $226.00 to $241.00. Across 24 analyst opinions, the stock holds a consensus buy recommendation with a mean price target of $224.95.

About Accenture

Headquartered in Dublin, Ireland, Accenture is a major global professional services firm with 814,000 employees. It specializes in digital strategy, consulting, technology, and operations services, helping clients manage cloud transformations, data infrastructure, artificial intelligence integration, and systems security across the Americas, Europe, and the Asia Pacific.

Bottom Line

Davenport's decision to scale back its exposure leaves it with a smaller stake as Accenture heads toward its next quarterly financial update in December. Investors will be watching the upcoming earnings release to see if revenue growth and profit margins align with current Wall Street expectations. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.