SageView Advisory Group LLC reduced its position in Accenture plc (NYSE:ACN - Free Report) by 49.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,649 shares of the information technology services provider's stock after selling 1,594 shares during the period. SageView Advisory Group LLC's holdings in Accenture were worth $583,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of ACN. Masso Torrence Wealth Management Inc. boosted its position in Accenture by 2.0% during the third quarter. Masso Torrence Wealth Management Inc. now owns 1,447 shares of the information technology services provider's stock worth $511,000 after purchasing an additional 28 shares during the period. BSW Wealth Partners boosted its holdings in Accenture by 0.7% in the 3rd quarter. BSW Wealth Partners now owns 4,077 shares of the information technology services provider's stock worth $1,441,000 after buying an additional 28 shares during the period. Slow Capital Inc. grew its stake in Accenture by 0.3% in the 3rd quarter. Slow Capital Inc. now owns 9,067 shares of the information technology services provider's stock valued at $3,205,000 after buying an additional 29 shares in the last quarter. Tradition Wealth Management LLC raised its holdings in Accenture by 0.3% during the 3rd quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider's stock valued at $3,871,000 after acquiring an additional 29 shares during the period. Finally, NBC Securities Inc. lifted its position in shares of Accenture by 0.6% during the third quarter. NBC Securities Inc. now owns 5,206 shares of the information technology services provider's stock worth $1,840,000 after acquiring an additional 30 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on ACN. Guggenheim boosted their price objective on Accenture from $380.00 to $395.00 and gave the company a "buy" rating in a research note on Friday, September 27th. StockNews.com downgraded shares of Accenture from a "buy" rating to a "hold" rating in a report on Thursday, October 24th. Susquehanna boosted their price objective on shares of Accenture from $350.00 to $360.00 and gave the company a "neutral" rating in a research note on Friday, September 27th. The Goldman Sachs Group upgraded shares of Accenture from a "neutral" rating to a "buy" rating and increased their target price for the stock from $370.00 to $420.00 in a research note on Friday. 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 report on Monday, September 30th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $372.09.
Check Out Our Latest Report on ACN
Insider Buying and Selling
In other Accenture news, CEO Ryoji Sekido sold 3,191 shares of the business's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $343.70, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kathleen R. Mcclure sold 5,090 shares of the stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $373.22, for a total transaction of $1,899,689.80. Following the sale, the chief financial officer now owns 38,825 shares of the company's stock, valued at approximately $14,490,266.50. This represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,298 shares of company stock valued at $13,372,661 over the last three months. 0.07% of the stock is owned by company insiders.
Accenture Stock Performance
Shares of ACN stock traded up $4.57 on Friday, hitting $362.70. 2,332,307 shares of the company's stock traded hands, compared to its average volume of 2,369,316. The stock has a market capitalization of $226.75 billion, a price-to-earnings ratio of 31.73, a P/E/G ratio of 3.19 and a beta of 1.24. The company's fifty day simple moving average is $360.14 and its 200 day simple moving average is $332.86. Accenture plc has a one year low of $278.69 and a one year high of $387.51.
Accenture (NYSE:ACN - Get Free Report) last released its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $2.79 EPS for the quarter, topping the consensus estimate of $2.78 by $0.01. The firm had revenue of $16.41 billion for the quarter, compared to the consensus estimate of $16.37 billion. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The company's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.71 earnings per share. As a group, sell-side analysts anticipate that Accenture plc will post 12.76 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 issued a $1.48 dividend. This is a boost from Accenture's previous quarterly dividend of $1.29. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.63%. Accenture's dividend payout ratio (DPR) is currently 51.79%.
Accenture declared that its Board of Directors has initiated a stock repurchase plan on Thursday, September 26th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.
Accenture Company Profile
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Free Report)
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.
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