Bancreek Capital Management LP Has $7.26 Million Position in Accenture plc (NYSE:ACN)

Bancreek Capital Management LP grew its stake in Accenture plc (NYSE:ACN) by 11.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,529 shares of the information technology services provider’s stock after buying an additional 2,122 shares during the period. Accenture accounts for about 4.6% of Bancreek Capital Management LP’s holdings, making the stock its 14th biggest holding. Bancreek Capital Management LP’s holdings in Accenture were worth $7,257,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Masso Torrence Wealth Management Inc. boosted its holdings in Accenture by 2.0% in the third quarter. Masso Torrence Wealth Management Inc. now owns 1,447 shares of the information technology services provider’s stock worth $511,000 after acquiring an additional 28 shares in the last quarter. BSW Wealth Partners lifted its holdings in Accenture by 0.7% during the third quarter. BSW Wealth Partners now owns 4,077 shares of the information technology services provider’s stock worth $1,441,000 after acquiring an additional 28 shares during the period. Slow Capital Inc. increased its position in Accenture by 0.3% in the third quarter. Slow Capital Inc. now owns 9,067 shares of the information technology services provider’s stock worth $3,205,000 after buying an additional 29 shares during the last quarter. NBC Securities Inc. increased its position in Accenture by 0.6% in the third quarter. NBC Securities Inc. now owns 5,206 shares of the information technology services provider’s stock worth $1,840,000 after buying an additional 30 shares during the last quarter. Finally, Conscious Wealth Investments LLC grew its position in shares of Accenture by 0.4% in the third quarter. Conscious Wealth Investments LLC now owns 7,744 shares of the information technology services provider’s stock valued at $2,870,000 after purchasing an additional 31 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Transactions at Accenture

In related news, COO John F. Walsh sold 5,000 shares of the business’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $373.24, for a total transaction of $1,866,200.00. Following the sale, the chief operating officer now owns 17,593 shares of the company’s stock, valued at approximately $6,566,411.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Ryoji Sekido sold 3,191 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 6 shares in the company, valued at approximately $2,062.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John F. Walsh sold 5,000 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $373.24, for a total transaction of $1,866,200.00. Following the completion of the transaction, the chief operating officer now owns 17,593 shares of the company’s stock, valued at $6,566,411.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,298 shares of company stock worth $13,372,661 over the last ninety days. 0.07% of the stock is currently owned by company insiders.

Accenture Trading Up 0.9 %

Accenture stock opened at $360.64 on Wednesday. The stock has a market cap of $225.46 billion, a P/E ratio of 31.55, a price-to-earnings-growth ratio of 3.11 and a beta of 1.25. The company has a fifty day simple moving average of $353.95 and a 200-day simple moving average of $325.80. Accenture plc has a 12-month low of $278.69 and a 12-month 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 EPS for the quarter, topping the consensus estimate of $2.78 by $0.01. Accenture had a net margin of 11.20% and a return on equity of 26.83%. The firm had revenue of $16.41 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same period last year, the business earned $2.71 EPS. Accenture’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Accenture plc will post 12.77 earnings per share for the current fiscal year.

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

Accenture Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 10th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.64%. This is a positive change from Accenture’s previous quarterly dividend of $1.29. The ex-dividend date is Thursday, October 10th. Accenture’s payout ratio is 51.79%.

Analyst Ratings Changes

Several research firms recently issued reports on ACN. Royal Bank of Canada lifted their price objective on Accenture from $377.00 to $389.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. cut their price target on Accenture from $376.00 to $370.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 24th. StockNews.com cut Accenture from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. UBS Group increased their price target on Accenture from $400.00 to $415.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, BNP Paribas lowered Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective for the company. in a research report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Accenture has a consensus rating of “Moderate Buy” and a consensus target price of $368.23.

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.