Impact Partnership Wealth LLC Sells 53 Shares of Accenture plc (NYSE:ACN)

Impact Partnership Wealth LLC reduced its holdings in shares of Accenture plc (NYSE:ACN) by 7.6% during the third quarter, Holdings Channel reports. The fund owned 645 shares of the information technology services provider’s stock after selling 53 shares during the period. Impact Partnership Wealth LLC’s holdings in Accenture were worth $228,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Annapolis Financial Services LLC grew its position in Accenture by 507.7% during the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 66 shares during the last quarter. Unique Wealth Strategies LLC bought a new position in Accenture during the second quarter valued at approximately $26,000. CarsonAllaria Wealth Management Ltd. bought a new position in Accenture during the first quarter valued at approximately $35,000. Tsfg LLC grew its position in Accenture by 267.9% during the first quarter. Tsfg LLC now owns 103 shares of the information technology services provider’s stock valued at $36,000 after acquiring an additional 75 shares during the last quarter. Finally, Creekmur Asset Management LLC grew its holdings in shares of Accenture by 108.0% in the first quarter. Creekmur Asset Management LLC now owns 104 shares of the information technology services provider’s stock worth $36,000 after purchasing an additional 54 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

Insider Transactions at Accenture

In other news, General Counsel Joel Unruch sold 4,750 shares of Accenture stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $369.97, for a total value of $1,757,357.50. Following the completion of the transaction, the general counsel now owns 22,976 shares of the company’s stock, valued at $8,500,430.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Angela Beatty sold 673 shares of Accenture stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $372.18, for a total value of $250,477.14. Following the completion of the sale, the insider now directly owns 5,650 shares in the company, valued at approximately $2,102,817. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Joel Unruch sold 4,750 shares of Accenture stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $369.97, for a total value of $1,757,357.50. Following the completion of the sale, the general counsel now owns 22,976 shares of the company’s stock, valued at $8,500,430.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,971 shares of company stock valued at $9,330,113 in the last quarter. 0.07% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. BMO Capital Markets raised their target price on shares of Accenture from $380.00 to $390.00 and gave the stock a “market perform” rating in a report on Friday, September 27th. StockNews.com cut shares of Accenture from a “buy” rating to a “hold” rating in a report on Thursday. Mizuho raised their target price on shares of Accenture from $352.00 to $365.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. cut their target price on shares of Accenture from $376.00 to $370.00 and set an “overweight” rating on the stock in a report on Tuesday, September 24th. Finally, Citigroup raised 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. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $371.18.

Accenture Trading Down 1.7 %

Shares of Accenture stock opened at $364.20 on Friday. The firm has a market capitalization of $228.24 billion, a P/E ratio of 33.35, a P/E/G ratio of 3.47 and a beta of 1.25. The business has a fifty day simple moving average of $348.78 and a two-hundred day simple moving average of $322.52. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.01. The firm had revenue of $16.41 billion during the quarter, compared to analyst estimates of $16.37 billion. Accenture had a return on equity of 26.83% and a net margin of 11.20%. Accenture’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.71 EPS. Analysts predict that Accenture plc will post 12.79 earnings per share for the current year.

Accenture announced that its board has approved a stock repurchase program on Thursday, September 26th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the information technology services provider to purchase up to 1.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Accenture Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 10th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Thursday, October 10th. This is a positive change from Accenture’s previous quarterly dividend of $1.29. Accenture’s payout ratio is currently 54.21%.

About Accenture

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.