Accenture plc (NYSE:ACN) Stock Position Lifted by Capital Investment Advisors LLC

Capital Investment Advisors LLC boosted its stake in shares of Accenture plc (NYSE:ACN) by 7.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,664 shares of the information technology services provider’s stock after purchasing an additional 184 shares during the period. Capital Investment Advisors LLC’s holdings in Accenture were worth $852,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. GM Advisory Group Inc. raised its holdings in shares of Accenture by 1.4% during the 2nd quarter. GM Advisory Group Inc. now owns 2,170 shares of the information technology services provider’s stock valued at $640,000 after buying an additional 31 shares in the last quarter. Carolinas Wealth Consulting LLC grew its position in shares of Accenture by 1.8% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 1,797 shares of the information technology services provider’s stock worth $530,000 after buying an additional 31 shares during the last quarter. Kestra Private Wealth Services LLC grew its position in shares of Accenture by 0.3% in the 2nd quarter. Kestra Private Wealth Services LLC now owns 10,798 shares of the information technology services provider’s stock worth $3,183,000 after buying an additional 33 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position in shares of Accenture by 0.3% during the second quarter. Cullen Frost Bankers Inc. now owns 12,744 shares of the information technology services provider’s stock valued at $3,757,000 after purchasing an additional 34 shares in the last quarter. Finally, Mission Wealth Management LP boosted its position in shares of Accenture by 1.3% during the second quarter. Mission Wealth Management LP now owns 2,852 shares of the information technology services provider’s stock valued at $841,000 after purchasing an additional 36 shares in the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

In other Accenture news, insider James O. Etheredge sold 1,966 shares of Accenture stock in a transaction dated Monday, October 25th. The stock was sold at an average price of $356.11, for a total transaction of $700,112.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kathleen R. Mcclure sold 1,797 shares of Accenture stock in a transaction dated Monday, October 25th. The shares were sold at an average price of $356.47, for a total value of $640,576.59. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,219 shares of company stock valued at $9,512,564. 0.07% of the stock is currently owned by insiders.

Several research analysts have recently weighed in on the company. Robert W. Baird restated a “hold” rating on shares of Accenture in a research note on Sunday, September 19th. BMO Capital Markets upped their price objective on Accenture from $330.00 to $385.00 and gave the company a “market perform” rating in a research report on Friday, September 24th. Piper Sandler upped their price target on Accenture from $302.00 to $354.00 and gave the stock a “neutral” rating in a research report on Friday, September 24th. Barclays upped their price objective on Accenture from $335.00 to $384.00 and gave the stock an “overweight” rating in a research note on Monday, September 27th. Finally, Zacks Investment Research raised Accenture from a “hold” rating to a “buy” rating and set a $374.00 price objective for the company in a research note on Wednesday, October 27th. Five investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $356.59.

Shares of NYSE ACN opened at $362.37 on Thursday. The stock has a market capitalization of $229.07 billion, a PE ratio of 39.60, a price-to-earnings-growth ratio of 3.65 and a beta of 1.13. Accenture plc has a 12-month low of $241.73 and a 12-month high of $374.92. The stock’s fifty day simple moving average is $347.66 and its two-hundred day simple moving average is $321.90.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Wednesday, September 22nd. The information technology services provider reported $2.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.19 by $0.01. The firm had revenue of $13.42 billion during the quarter, compared to analysts’ expectations of $13.42 billion. Accenture had a return on equity of 29.50% and a net margin of 11.69%. The business’s quarterly revenue was up 23.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.70 EPS. As a group, analysts forecast that Accenture plc will post 10.12 EPS for the current year.

Accenture declared that its board has approved a share repurchase plan on Thursday, September 23rd that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 15th. Stockholders of record on Thursday, October 14th were given a $0.97 dividend. This is a boost from Accenture’s previous quarterly dividend of $0.88. The ex-dividend date was Wednesday, October 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.07%. Accenture’s dividend payout ratio (DPR) is presently 42.40%.

Accenture Profile

Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following geographical segments: North America, Europe and Growth Markets. The company was founded in 1989 and is headquartered in Dublin, Ireland.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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