Coldstream Capital Management Inc. Has $8.97 Million Stock Position in Accenture plc (NYSE:ACN)

Coldstream Capital Management Inc. raised its holdings in Accenture plc (NYSE:ACN - Free Report) by 7.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,293 shares of the information technology services provider's stock after buying an additional 1,840 shares during the period. Coldstream Capital Management Inc.'s holdings in Accenture were worth $8,974,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Morse Asset Management Inc acquired a new stake in shares of Accenture in the 3rd quarter valued at $25,000. Unique Wealth Strategies LLC acquired a new position in Accenture in the second quarter valued at $26,000. Strategic Financial Concepts LLC acquired a new position in Accenture in the second quarter valued at $28,000. MidAtlantic Capital Management Inc. acquired a new position in Accenture in the third quarter valued at $30,000. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its holdings 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 acquiring an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company's stock.

Insider Buying and Selling at Accenture

In other news, CEO Julie Spellman Sweet sold 9,000 shares of the firm's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $376.16, for a total transaction of $3,385,440.00. Following the completion of the transaction, the chief executive officer now owns 20,324 shares in the company, valued at approximately $7,645,075.84. This trade represents a 30.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ryoji Sekido sold 3,191 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now owns 6 shares of the company's stock, valued at approximately $2,062.20. This trade represents a 99.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,298 shares of company stock valued at $13,372,661. Company insiders own 0.07% of the company's stock.

Analyst Upgrades and Downgrades

ACN has been the topic of a number of research analyst reports. StockNews.com raised shares of Accenture from a "hold" rating to a "buy" rating in a report on Monday. Robert W. Baird reissued a "neutral" rating and issued a $370.00 price objective on shares of Accenture in a research report on Tuesday, December 3rd. BNP Paribas lowered shares of 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. TD Cowen raised shares of Accenture from a "hold" rating to a "buy" rating and upped their price target for the stock from $321.00 to $400.00 in a research report on Monday, September 30th. Finally, Barclays upped their price target on shares of Accenture from $350.00 to $415.00 and gave the stock an "overweight" rating in a research report on Monday, September 30th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Accenture currently has a consensus rating of "Moderate Buy" and a consensus price target of $372.09.

Accenture Price Performance

Shares of ACN stock traded up $3.48 during trading hours on Tuesday, reaching $362.98. The stock had a trading volume of 2,157,820 shares, compared to its average volume of 2,692,646. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51. The firm has a 50-day simple moving average of $360.26 and a 200-day simple moving average of $333.42. The firm has a market capitalization of $226.92 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 3.22 and a beta of 1.24.

Accenture (NYSE:ACN - Get Free Report) last released its quarterly earnings data 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 net margin of 11.20% and a return on equity of 26.83%. The business had revenue of $16.41 billion for the quarter, compared to analysts' expectations of $16.37 billion. During the same quarter last year, the company earned $2.71 EPS. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities analysts anticipate that Accenture plc will post 12.76 earnings per share for the current year.

Accenture declared that its Board of Directors has approved a stock repurchase program on Thursday, September 26th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the information technology services provider to purchase up to 1.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Accenture Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 10th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Thursday, October 10th. This is a boost from Accenture's previous quarterly dividend of $1.29. Accenture's dividend payout ratio (DPR) is 51.79%.

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.