Mill Creek Capital Advisors LLC Has $713,000 Stock Holdings in Accenture plc (NYSE:ACN)

Mill Creek Capital Advisors LLC trimmed its holdings in shares of Accenture plc (NYSE:ACN - Free Report) by 59.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,016 shares of the information technology services provider's stock after selling 2,928 shares during the period. Mill Creek Capital Advisors LLC's holdings in Accenture were worth $713,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in ACN. Schrum Private Wealth Management LLC boosted its stake in Accenture by 78.6% during 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 acquired a new position in shares of Accenture during the 3rd quarter worth $1,040,000. M&G PLC lifted its holdings in Accenture by 34.1% in 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. Concurrent Investment Advisors LLC lifted its stake in shares of 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 worth $12,581,000 after buying an additional 14,724 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Accenture by 18.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 172,199 shares of the information technology services provider's stock worth $52,247,000 after purchasing an additional 27,168 shares during the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Stock Down 2.3 %

Shares of NYSE ACN traded down $8.50 during trading hours on Friday, hitting $353.57. The company had a trading volume of 3,624,539 shares, compared to its average volume of 2,555,959. The firm's 50 day moving average is $355.55 and its 200-day moving average is $327.26. The stock has a market capitalization of $221.04 billion, a P/E ratio of 30.93, a price-to-earnings-growth ratio of 3.09 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 - Get Free Report) last posted its earnings results on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share 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 business had revenue of $16.41 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same period in the previous year, the firm earned $2.71 EPS. The firm's revenue was up 2.6% compared to the same quarter last year. On average, sell-side analysts predict that Accenture plc will post 12.77 earnings per share for the current year.

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 buy up to 1.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its shares are undervalued.

Accenture Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 10th were issued a $1.48 dividend. This is a boost from Accenture's previous quarterly dividend of $1.29. This represents a $5.92 annualized dividend and a yield of 1.67%. The ex-dividend date was Thursday, October 10th. Accenture's dividend payout ratio is currently 51.79%.

Insider Transactions at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 458 shares of Accenture stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $373.25, for a total value of $170,948.50. Following the completion of the sale, the chief accounting officer now owns 9,777 shares in the company, valued at $3,649,265.25. The trade was a 4.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryoji Sekido sold 3,191 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $343.70, for a total transaction of $1,096,746.70. Following the transaction, the chief executive officer now owns 6 shares in the company, valued at approximately $2,062.20. The trade was a 99.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,298 shares of company stock worth $13,372,661 over the last quarter. Company insiders own 0.07% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Robert W. Baird raised their price target on shares of Accenture from $350.00 to $370.00 and gave the stock a "neutral" rating in a research report on Friday, September 27th. BNP Paribas downgraded shares of Accenture from an "outperform" rating to a "neutral" rating and set a $375.00 target price on the stock. in a research note on Wednesday, October 30th. BMO Capital Markets lifted their price objective on Accenture from $380.00 to $390.00 and gave the company a "market perform" rating in a research report on Friday, September 27th. TD Cowen raised shares of Accenture from a "hold" rating to a "buy" rating and raised their price target for the company from $321.00 to $400.00 in a report on Monday, September 30th. Finally, Piper Sandler raised Accenture from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $329.00 to $395.00 in a report on Thursday, September 26th. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $368.23.

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.