Accenture plc (NYSE:ACN) Shares Sold by Lindenwold Advisors INC

Lindenwold Advisors INC reduced its position in Accenture plc (NYSE:ACN - Free Report) by 39.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,177 shares of the information technology services provider's stock after selling 3,408 shares during the quarter. Lindenwold Advisors INC's holdings in Accenture were worth $1,830,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Unique Wealth Strategies LLC purchased a new position in Accenture during the second quarter worth $26,000. MidAtlantic Capital Management Inc. bought a new stake in Accenture in the third quarter valued at $30,000. Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of Accenture by 607.1% during 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 during the period. Creekmur Asset Management LLC lifted its holdings in Accenture by 108.0% in the 1st quarter. Creekmur Asset Management LLC now owns 104 shares of the information technology services provider's stock valued at $36,000 after acquiring an additional 54 shares during the last quarter. Finally, Tsfg LLC grew its holdings in shares of Accenture by 31.1% in the 2nd quarter. Tsfg LLC now owns 135 shares of the information technology services provider's stock worth $41,000 after acquiring an additional 32 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Accenture

In other news, CEO Julie Spellman Sweet sold 8,136 shares of the firm's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $362.07, for a total value of $2,945,801.52. Following the completion of the sale, the chief executive officer now owns 12,188 shares in the company, valued at approximately $4,412,909.16. This trade represents a 40.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryoji Sekido sold 3,191 shares of the business's stock in a transaction dated 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. This trade represents a 99.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,298 shares of company stock worth $13,372,661. Corporate insiders own 0.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ACN. JPMorgan Chase & Co. dropped their target price on Accenture from $376.00 to $370.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 24th. Bank of America boosted their price target on shares of Accenture from $365.00 to $388.00 and gave the company a "buy" rating in a report on Friday, September 27th. Piper Sandler Companies reaffirmed a "neutral" rating and issued a $329.00 target price on shares of Accenture in a report on Friday, September 20th. Barclays increased their price target on shares of Accenture from $350.00 to $415.00 and gave the company an "overweight" rating in a research note on Monday, September 30th. Finally, Citigroup lifted their target price on shares of Accenture from $350.00 to $405.00 and gave the stock a "buy" rating in a report on Tuesday, September 17th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Accenture presently has a consensus rating of "Moderate Buy" and a consensus price target of $368.23.

Accenture Stock Up 0.3 %

NYSE ACN traded up $1.06 during trading on Tuesday, hitting $353.85. The stock had a trading volume of 2,447,114 shares, compared to its average volume of 2,725,069. The company has a market capitalization of $221.21 billion, a PE ratio of 30.82, a PEG ratio of 3.09 and a beta of 1.25. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51. The firm has a 50 day moving average price of $355.77 and a 200 day moving average price of $327.83.

Accenture (NYSE:ACN - Get Free Report) last issued its quarterly earnings results on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.01. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The company had revenue of $16.41 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter in the prior year, the business earned $2.71 EPS. Accenture's revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts anticipate that Accenture plc will post 12.77 earnings per share for the current year.

Accenture announced that its board has authorized a share buyback plan on Thursday, September 26th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.

Accenture Increases Dividend

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

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.