Accenture plc (NYSE:ACN) Shares Sold by Quotient Wealth Partners LLC

Quotient Wealth Partners LLC cut its stake in shares of Accenture plc (NYSE:ACN) by 1.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,084 shares of the information technology services provider’s stock after selling 61 shares during the period. Quotient Wealth Partners LLC’s holdings in Accenture were worth $2,151,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Regal Investment Advisors LLC lifted its stake in shares of Accenture by 4.5% during the 4th quarter. Regal Investment Advisors LLC now owns 2,077 shares of the information technology services provider’s stock worth $729,000 after purchasing an additional 90 shares during the period. MGO One Seven LLC raised its stake in Accenture by 7.0% during the fourth quarter. MGO One Seven LLC now owns 5,330 shares of the information technology services provider’s stock valued at $1,870,000 after buying an additional 348 shares in the last quarter. Nebula Research & Development LLC bought a new position in Accenture during the fourth quarter worth $855,000. First Financial Bankshares Inc acquired a new position in shares of Accenture in the 4th quarter valued at about $232,000. Finally, Vivaldi Capital Management LP increased its stake in shares of Accenture by 8.8% in the fourth quarter. Vivaldi Capital Management LP now owns 867 shares of the information technology services provider’s stock valued at $315,000 after purchasing an additional 70 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Accenture

In other news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the completion of the sale, the insider now owns 8,989 shares in the company, valued at $2,964,751.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Accenture news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the completion of the sale, the insider now directly owns 8,989 shares in the company, valued at $2,964,751.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kathleen R. Mcclure sold 3,000 shares of Accenture stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the completion of the transaction, the chief financial officer now owns 40,070 shares in the company, valued at approximately $12,390,445.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,421 shares of company stock worth $6,912,635. 0.07% of the stock is owned by insiders.

Accenture Stock Performance

ACN stock traded down $4.75 during mid-day trading on Thursday, hitting $360.33. 666,728 shares of the company were exchanged, compared to its average volume of 2,751,932. The firm has a market cap of $225.82 billion, a P/E ratio of 33.43, a P/E/G ratio of 3.69 and a beta of 1.25. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51. The firm’s 50 day simple moving average is $338.56 and its 200 day simple moving average is $320.27.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, September 26th. The information technology services provider reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.78 by $0.01. Accenture had a return on equity of 27.48% and a net margin of 10.79%. The company 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 company posted $2.71 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts predict that Accenture plc will post 11.95 EPS for the current fiscal year.

Accenture declared that its board has initiated a share repurchase plan on Thursday, September 26th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the information technology services provider to buy up to 1.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Accenture Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 10th will be issued a $1.48 dividend. This is an increase from Accenture’s previous quarterly dividend of $1.29. This represents a $5.92 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Thursday, October 10th. Accenture’s payout ratio is currently 54.21%.

Wall Street Analysts Forecast Growth

ACN has been the topic of a number of recent research reports. UBS Group lifted their target price on Accenture from $400.00 to $415.00 and gave the stock a “buy” rating in a report on Friday, September 27th. TD Cowen upgraded shares of Accenture from a “hold” rating to a “buy” rating and upped their price objective for the stock from $321.00 to $400.00 in a report on Monday, September 30th. Piper Sandler Companies reissued a “neutral” rating and issued a $329.00 price target on shares of Accenture in a report on Friday, September 20th. Guggenheim raised their price objective on shares of Accenture from $380.00 to $395.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Barclays lifted their price objective on Accenture from $350.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $371.18.

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.