Adero Partners LLC Buys 242 Shares of Accenture plc (NYSE:ACN)

Adero Partners LLC lifted its holdings in shares of Accenture plc (NYSE:ACN) by 24.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,216 shares of the information technology services provider’s stock after purchasing an additional 242 shares during the period. Adero Partners LLC’s holdings in Accenture were worth $430,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ACN. Unique Wealth Strategies LLC bought a new stake in shares of Accenture during the second quarter worth $26,000. Strategic Financial Concepts LLC bought a new stake in shares of Accenture during the second quarter worth $28,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of Accenture by 607.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 85 shares during the last quarter. Creekmur Asset Management LLC grew its holdings in shares of Accenture by 108.0% during 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. Finally, Tsfg LLC grew its holdings in shares of Accenture by 31.1% during the second quarter. Tsfg LLC now owns 135 shares of the information technology services provider’s stock worth $41,000 after purchasing an additional 32 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling at Accenture

In other Accenture news, insider Angela Beatty sold 673 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 5,650 shares in the company, valued at $2,102,817. This trade represents a 10.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryoji Sekido sold 3,191 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $343.70, for a total value of $1,096,746.70. Following the completion of the sale, the chief executive officer now directly owns 6 shares of the company’s stock, valued at approximately $2,062.20. The trade was a 99.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,298 shares of company stock worth $13,372,661 over the last ninety days. 0.07% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ACN has been the topic of several research reports. Guggenheim upped their price target on Accenture from $380.00 to $395.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Susquehanna upped their price target on Accenture from $350.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. BNP Paribas lowered Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target on the stock. in a research note on Wednesday, October 30th. Robert W. Baird upped their price target on Accenture from $350.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Finally, Royal Bank of Canada upped their price target on Accenture from $377.00 to $389.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $368.23.

Accenture Stock Performance

NYSE:ACN opened at $353.57 on Friday. The company has a market cap of $221.04 billion, a PE ratio of 30.93, a PEG ratio of 3.24 and a beta of 1.25. Accenture plc has a 52-week low of $278.69 and a 52-week high of $387.51. The stock has a 50-day simple moving average of $355.55 and a 200 day simple moving average of $327.26.

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. The business had revenue of $16.41 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $2.71 earnings per share. On average, research analysts predict that Accenture plc will post 12.77 earnings per share for the current fiscal year.

Accenture announced that its board has initiated a share buyback plan 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 repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Accenture Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 10th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.67%. This is an increase from Accenture’s previous quarterly dividend of $1.29. The ex-dividend date of this dividend was Thursday, October 10th. Accenture’s dividend payout ratio (DPR) is currently 51.79%.

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.