TrinityPoint Wealth LLC Buys 125 Shares of Accenture plc (NYSE:ACN)

TrinityPoint Wealth LLC boosted its position in Accenture plc (NYSE:ACN) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,140 shares of the information technology services provider’s stock after purchasing an additional 125 shares during the period. TrinityPoint Wealth LLC’s holdings in Accenture were worth $1,463,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ACN. Unique Wealth Strategies LLC purchased a new stake in Accenture in the 2nd quarter worth about $26,000. Strategic Financial Concepts LLC bought a new stake in shares of Accenture in the second quarter valued at approximately $28,000. Mowery & Schoenfeld Wealth Management LLC lifted its stake in shares of Accenture by 607.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 85 shares in the last quarter. Creekmur Asset Management LLC boosted its holdings in Accenture by 108.0% in the 1st quarter. Creekmur Asset Management LLC now owns 104 shares of the information technology services provider’s stock worth $36,000 after buying an additional 54 shares during the period. Finally, Tsfg LLC raised its holdings in Accenture by 31.1% during the 2nd quarter. Tsfg LLC now owns 135 shares of the information technology services provider’s stock valued at $41,000 after acquiring an additional 32 shares during the period. 75.14% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Kathleen R. Mcclure sold 5,090 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 38,825 shares in the company, valued at $14,490,266.50. This represents a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Melissa A. Burgum sold 458 shares of Accenture stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $373.25, for a total transaction of $170,948.50. Following the completion of the sale, the chief accounting officer now owns 9,777 shares in the company, valued at approximately $3,649,265.25. This trade represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,298 shares of company stock valued at $13,372,661. Insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ACN. Bank of America boosted their price objective on Accenture from $365.00 to $388.00 and gave the company a “buy” rating in a research note on Friday, September 27th. BNP Paribas cut shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective for the company. in a research note on Wednesday, October 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. 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. Finally, Piper Sandler upgraded Accenture from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $329.00 to $395.00 in a research report on Thursday, September 26th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $368.23.

Accenture Stock Performance

Shares of Accenture stock opened at $353.57 on Monday. The stock has a market capitalization of $221.04 billion, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 3.09 and a beta of 1.25. The company has a fifty day moving average of $355.55 and a 200-day moving average of $327.46. Accenture plc has a 52-week low of $278.69 and a 52-week high of $387.51.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.78 by $0.01. The firm had revenue of $16.41 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $2.71 earnings per share. On average, equities research analysts forecast that Accenture plc will post 12.77 earnings per share for the current fiscal year.

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 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 1.67%. Accenture’s dividend payout ratio (DPR) is currently 51.79%.

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.