ORG Partners LLC Sells 971 Shares of Accenture plc (NYSE:ACN)

ORG Partners LLC lessened its stake in shares of Accenture plc (NYSE:ACN) by 69.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 429 shares of the information technology services provider’s stock after selling 971 shares during the quarter. ORG Partners LLC’s holdings in Accenture were worth $152,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Annapolis Financial Services LLC grew its position in shares of Accenture by 507.7% in the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 66 shares during the last quarter. Atwood & Palmer Inc. grew its stake in shares of Accenture by 214.8% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 58 shares during the last quarter. Unique Wealth Strategies LLC bought a new position in Accenture during the second quarter worth $26,000. CarsonAllaria Wealth Management Ltd. acquired a new position in Accenture during the 1st quarter valued at $35,000. Finally, Tsfg LLC grew its position in Accenture by 267.9% in the 1st quarter. Tsfg LLC now owns 103 shares of the information technology services provider’s stock worth $36,000 after purchasing an additional 75 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Insiders Place Their Bets

In other news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total value of $1,649,100.00. Following the transaction, the insider now owns 8,989 shares of the company’s stock, valued at approximately $2,964,751.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, General Counsel Joel Unruch sold 8,145 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $331.05, for a total value of $2,696,402.25. Following the transaction, the general counsel now directly owns 22,849 shares in the company, valued at $7,564,161.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ellyn Shook sold 5,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total value of $1,649,100.00. Following the completion of the transaction, the insider now directly owns 8,989 shares in the company, valued at $2,964,751.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ACN shares. Piper Sandler Companies reiterated a “neutral” rating and issued a $329.00 target price on shares of Accenture in a research note on Friday, September 20th. Mizuho lifted their price objective on Accenture from $352.00 to $365.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Bank of America upped their target price on Accenture from $365.00 to $388.00 and gave the company a “buy” rating in a research note on Friday, September 27th. BMO Capital Markets boosted their price target on shares of Accenture from $380.00 to $390.00 and gave the company a “market perform” rating in a report on Friday, September 27th. Finally, Susquehanna raised their price objective on shares of Accenture from $350.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $371.18.

Accenture Trading Up 1.1 %

ACN opened at $368.66 on Wednesday. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51. The stock has a market capitalization of $231.04 billion, a PE ratio of 33.76, a PEG ratio of 3.47 and a beta of 1.25. The firm has a 50-day moving average price of $341.99 and a two-hundred day moving average price of $320.77.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $16.37 billion. During the same quarter last year, the business posted $2.71 earnings per share. Accenture’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, research analysts predict that Accenture plc will post 12.79 EPS for the current year.

Accenture announced that its Board of Directors has authorized a share repurchase plan on Thursday, September 26th that permits the company to repurchase $4.00 billion in outstanding 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 plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Accenture Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 10th will be issued a $1.48 dividend. This is a boost from Accenture’s previous quarterly dividend of $1.29. The ex-dividend date is Thursday, October 10th. This represents a $5.92 annualized dividend and a yield of 1.61%. Accenture’s dividend payout ratio (DPR) is currently 54.21%.

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.