Perfromance Wealth Partners LLC Acquires 69 Shares of Accenture plc (NYSE:ACN)

12 Oct 2024, 18:40 by Renee Jackson · The Cerbat Gem

Perfromance Wealth Partners LLC lifted its stake in shares of Accenture plc (NYSE:ACN – Free Report) by 4.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,513 shares of the information technology services provider’s stock after buying an additional 69 shares during the period. Perfromance Wealth Partners LLC’s holdings in Accenture were worth $535,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Unique Wealth Strategies LLC bought a new stake in Accenture in the 2nd quarter valued at about $26,000. Annapolis Financial Services LLC raised its position in shares of Accenture by 507.7% during the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 66 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of Accenture in the 2nd quarter worth $28,000. Ables Iannone Moore & Associates Inc. bought a new stake in Accenture during the 4th quarter worth approximately $29,000. Finally, Atwood & Palmer Inc. lifted its holdings 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 valued at $29,000 after purchasing an additional 58 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Robert W. Baird increased their price target on Accenture from $350.00 to $370.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. dropped their price target on shares of Accenture from $376.00 to $370.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 24th. Bank of America upped their price objective on shares of Accenture from $365.00 to $388.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. The Goldman Sachs Group initiated coverage on Accenture in a research note on Monday, June 24th. They issued a “neutral” rating and a $335.00 target price on the stock. Finally, Piper Sandler upgraded Accenture from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $329.00 to $395.00 in a report on Thursday, September 26th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Accenture has a consensus rating of “Moderate Buy” and a consensus price target of $371.18.

View Our Latest Report on ACN

Insider Activity

In related news, General Counsel Joel Unruch sold 8,145 shares of the company’s stock in a transaction 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 in the company, valued at approximately $7,564,161.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Kathleen R. Mcclure sold 1,500 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $315.00, for a total value of $472,500.00. Following the completion of the sale, the chief financial officer now owns 38,570 shares of the company’s stock, valued at approximately $12,149,550. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Joel Unruch sold 8,145 shares of Accenture stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the completion of the transaction, the general counsel now owns 22,849 shares in the company, valued at approximately $7,564,161.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,645 shares of company stock worth $4,818,002. 0.07% of the stock is currently owned by corporate insiders.

Accenture Trading Down 0.1 %

Shares of Accenture stock traded down $0.33 on Friday, reaching $360.74. The stock had a trading volume of 1,436,631 shares, compared to its average volume of 2,751,502. The business’s 50 day moving average is $339.97 and its two-hundred day moving average is $320.74. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51. The company has a market cap of $226.07 billion, a P/E ratio of 31.56, a price-to-earnings-growth ratio of 3.47 and a beta of 1.25.

Accenture (NYSE:ACN – Get Free Report) last posted its earnings results on Thursday, September 26th. The information technology services provider reported $2.79 EPS for the quarter, topping the consensus estimate of $2.78 by $0.01. The business had revenue of $16.41 billion during 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 firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.71 earnings per share. On average, equities analysts anticipate that Accenture plc will post 12.79 EPS for the current fiscal year.

Accenture announced that its board has authorized a share repurchase plan on Thursday, September 26th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Accenture Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 10th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Thursday, October 10th. This is a boost from Accenture’s previous quarterly dividend of $1.29. Accenture’s payout ratio is currently 45.14%.

Accenture Company Profile

(Free Report)

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.