Accenture plc (NYSE:ACN) Shares Bought by Austin Private Wealth LLC

Austin Private Wealth LLC grew its position in Accenture plc (NYSE:ACN) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,536 shares of the information technology services provider’s stock after acquiring an additional 65 shares during the quarter. Austin Private Wealth LLC’s holdings in Accenture were worth $543,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Unique Wealth Strategies LLC purchased a new stake in shares of Accenture during the second quarter worth $26,000. Strategic Financial Concepts LLC purchased a new stake in Accenture during the 2nd quarter valued at about $28,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in Accenture in the 1st quarter valued at about $35,000. Mowery & Schoenfeld Wealth Management LLC grew its position in shares of Accenture by 607.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 85 shares in the last quarter. Finally, Creekmur Asset Management LLC lifted its position in Accenture by 108.0% during the first quarter. Creekmur Asset Management LLC now owns 104 shares of the information technology services provider’s stock worth $36,000 after buying an additional 54 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Ryoji Sekido sold 3,191 shares of Accenture stock in a transaction on Monday, November 4th. The shares were sold at an average price of $343.70, for a total transaction of $1,096,746.70. Following the sale, the chief executive officer now directly owns 6 shares in the company, valued at $2,062.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Ryoji Sekido sold 3,191 shares of Accenture stock in a transaction on Monday, November 4th. The shares were sold at an average price of $343.70, for a total value of $1,096,746.70. Following the transaction, the chief executive officer now directly owns 6 shares of the company’s stock, valued at $2,062.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Angela Beatty sold 673 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $372.18, for a total transaction of $250,477.14. Following the sale, the insider now owns 5,650 shares of the company’s stock, valued at approximately $2,102,817. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,298 shares of company stock worth $13,372,661. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

ACN has been the subject of a number of analyst reports. Royal Bank of Canada upped their price objective on shares of Accenture from $377.00 to $389.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Piper Sandler Companies reiterated a “neutral” rating and issued a $329.00 price objective on shares of Accenture in a report on Friday, September 20th. Citigroup raised their target price on Accenture from $350.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. lowered their price target on Accenture from $376.00 to $370.00 and set an “overweight” rating for the company in a report on Tuesday, September 24th. Finally, Robert W. Baird boosted their price objective on shares of Accenture from $350.00 to $370.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $368.23.

Accenture Price Performance

Shares of ACN traded up $1.44 during midday trading on Tuesday, reaching $345.34. The stock had a trading volume of 297,450 shares, compared to its average volume of 2,713,227. The company’s fifty day simple moving average is $352.47 and its two-hundred day simple moving average is $324.38. The company has a market cap of $215.89 billion, a price-to-earnings ratio of 30.09, a PEG ratio of 3.02 and a beta of 1.25. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.78 by $0.01. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The company had revenue of $16.41 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same period in the previous year, the business earned $2.71 EPS. Accenture’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, sell-side analysts forecast that Accenture plc will post 12.77 earnings per share for the current year.

Accenture declared that its Board of Directors has authorized a stock repurchase plan on Thursday, September 26th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to purchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Accenture Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 10th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Thursday, October 10th. This is an increase from Accenture’s previous quarterly dividend of $1.29. Accenture’s payout ratio is currently 51.79%.

Accenture 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.