SeaCrest Wealth Management LLC Sells 49 Shares of Accenture plc (NYSE:ACN)

SeaCrest Wealth Management LLC lessened its holdings in shares of Accenture plc (NYSE:ACN) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,619 shares of the information technology services provider’s stock after selling 49 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Accenture were worth $572,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. grew its holdings in Accenture by 0.6% during the 3rd 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 during the period. West Paces Advisors Inc. grew its stake in Accenture by 10.2% during the first quarter. West Paces Advisors Inc. now owns 346 shares of the information technology services provider’s stock worth $120,000 after purchasing an additional 32 shares during the period. Tsfg LLC lifted its stake in Accenture by 31.1% in the second quarter. Tsfg LLC now owns 135 shares of the information technology services provider’s stock valued at $41,000 after buying an additional 32 shares during the period. Meadow Creek Wealth Advisors LLC boosted its holdings in shares of Accenture by 4.5% during the 2nd quarter. Meadow Creek Wealth Advisors LLC now owns 747 shares of the information technology services provider’s stock worth $227,000 after buying an additional 32 shares in the last quarter. Finally, Encompass More Asset Management increased its stake in shares of Accenture by 4.8% in the 2nd quarter. Encompass More Asset Management now owns 700 shares of the information technology services provider’s stock valued at $212,000 after acquiring an additional 32 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Accenture

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Citigroup increased their target price on shares of Accenture from $350.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. BMO Capital Markets raised their target price on Accenture from $380.00 to $390.00 and gave the company a “market perform” rating in a research note on Friday, September 27th. Royal Bank of Canada upped their price target on Accenture from $377.00 to $389.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Mizuho boosted their price objective on Accenture from $352.00 to $365.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Finally, Morgan Stanley cut Accenture from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $382.00 to $300.00 in a report on Wednesday, June 26th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $371.18.

Accenture Price Performance

Shares of Accenture stock opened at $375.30 on Friday. The firm has a market cap of $235.20 billion, a PE ratio of 34.37, a P/E/G ratio of 3.47 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 stock has a fifty day moving average price of $344.26 and a 200-day moving average price of $321.51.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $16.37 billion. During the same quarter last year, the company posted $2.71 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts anticipate that Accenture plc will post 12.79 EPS for the current fiscal year.

Accenture announced that its Board of Directors has initiated a share repurchase program 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Accenture Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 10th will be given a $1.48 dividend. This is an increase from Accenture’s previous quarterly dividend of $1.29. This represents a $5.92 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Thursday, October 10th. Accenture’s dividend payout ratio (DPR) is currently 54.21%.

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.