Hollow Brook Wealth Management LLC Purchases 322 Shares of Accenture plc (NYSE:ACN)

Hollow Brook Wealth Management LLC increased its position in shares of Accenture plc (NYSE:ACN) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,468 shares of the information technology services provider’s stock after acquiring an additional 322 shares during the period. Accenture comprises 1.2% of Hollow Brook Wealth Management LLC’s holdings, making the stock its 27th largest holding. Hollow Brook Wealth Management LLC’s holdings in Accenture were worth $4,054,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Schrum Private Wealth Management LLC boosted its stake in shares of Accenture by 78.6% in the 3rd quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock valued at $4,047,000 after purchasing an additional 5,038 shares in the last quarter. MQS Management LLC bought a new stake in shares of Accenture in the third quarter worth $1,040,000. Concurrent Investment Advisors LLC increased its holdings in Accenture by 70.6% in the third quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock valued at $12,581,000 after purchasing an additional 14,724 shares during the period. M&G PLC raised its position in Accenture by 34.1% during the 3rd quarter. M&G PLC now owns 292,808 shares of the information technology services provider’s stock worth $103,361,000 after purchasing an additional 74,438 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Accenture by 18.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 172,199 shares of the information technology services provider’s stock valued at $52,247,000 after buying an additional 27,168 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Accenture Trading Up 0.1 %

Shares of NYSE:ACN opened at $362.37 on Monday. The stock has a market cap of $226.54 billion, a P/E ratio of 31.70, a P/E/G ratio of 3.17 and a beta of 1.25. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51. The company has a 50 day moving average of $358.68 and a 200 day moving average of $331.17.

Accenture (NYSE:ACN) last released its earnings results on Thursday, September 26th. The information technology services provider reported $2.79 EPS for the quarter, beating 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 company had revenue of $16.41 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same quarter last year, the firm earned $2.71 EPS. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities analysts forecast that Accenture plc will post 12.77 earnings per share for the current fiscal year.

Accenture Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 10th were given a $1.48 dividend. The ex-dividend date was Thursday, October 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.63%. This is a positive change from Accenture’s previous quarterly dividend of $1.29. Accenture’s dividend payout ratio is currently 51.79%.

Accenture declared that its Board of Directors has approved a share buyback program 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 repurchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts recently commented on ACN shares. JPMorgan Chase & Co. cut their price objective on Accenture from $376.00 to $370.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 24th. TD Cowen raised shares of Accenture from a “hold” rating to a “buy” rating and lifted their target price for the stock from $321.00 to $400.00 in a research note on Monday, September 30th. Bank of America upped their price target on shares of Accenture from $365.00 to $388.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Barclays raised their target price on Accenture from $350.00 to $415.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Mizuho increased their price target on Accenture from $352.00 to $365.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $368.23.

Insider Activity at Accenture

In other news, insider Angela Beatty sold 673 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $372.18, for a total value of $250,477.14. Following the completion of the transaction, the insider now owns 5,650 shares in the company, valued at $2,102,817. The trade was a 10.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Joel Unruch sold 4,750 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $369.97, for a total transaction of $1,757,357.50. Following the transaction, the general counsel now directly owns 22,976 shares of the company’s stock, valued at $8,500,430.72. The trade was a 17.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,298 shares of company stock valued at $13,372,661 in the last 90 days. Corporate insiders own 0.07% of the company’s stock.

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.