Accenture plc (NYSE:ACN) is Two Point Capital Management Inc.’s 5th Largest Position

by · The Markets Daily

Two Point Capital Management Inc. raised its stake in Accenture plc (NYSE:ACN – Free Report) by 1.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 43,719 shares of the information technology services provider’s stock after purchasing an additional 518 shares during the quarter. Accenture accounts for 5.6% of Two Point Capital Management Inc.’s portfolio, making the stock its 5th biggest position. Two Point Capital Management Inc.’s holdings in Accenture were worth $15,454,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in ACN. Concurrent Investment Advisors LLC boosted its position in Accenture by 70.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock valued at $12,581,000 after buying an additional 14,724 shares during the period. Umpqua Bank raised its stake in shares of Accenture by 9.3% during the third quarter. Umpqua Bank now owns 4,171 shares of the information technology services provider’s stock valued at $1,474,000 after acquiring an additional 355 shares during the last quarter. Foster & Motley Inc. boosted its holdings in shares of Accenture by 4.0% during the third quarter. Foster & Motley Inc. now owns 17,348 shares of the information technology services provider’s stock worth $6,132,000 after purchasing an additional 662 shares during the period. Benchmark Financial Wealth Advisors LLC bought a new stake in shares of Accenture in the third quarter worth about $202,000. Finally, Radnor Capital Management LLC raised its position in Accenture by 21.6% during the 3rd quarter. Radnor Capital Management LLC now owns 22,131 shares of the information technology services provider’s stock valued at $7,823,000 after purchasing an additional 3,930 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Stock Performance

Shares of Accenture stock opened at $356.13 on Thursday. The company has a 50-day simple moving average of $352.96 and a two-hundred day simple moving average of $324.80. Accenture plc has a 52-week low of $278.69 and a 52-week high of $387.51. The stock has a market capitalization of $222.64 billion, a PE ratio of 31.16, a price-to-earnings-growth ratio of 3.02 and a beta of 1.25.

Accenture (NYSE:ACN – Get Free Report) last issued its earnings results on Thursday, September 26th. The information technology services provider reported $2.79 EPS for the quarter, beating the consensus estimate of $2.78 by $0.01. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The business had revenue of $16.41 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same period last year, the business posted $2.71 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. As a group, equities research analysts forecast that Accenture plc will post 12.77 EPS for the current fiscal year.

Accenture Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 10th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Thursday, October 10th. This is an increase from Accenture’s previous quarterly dividend of $1.29. Accenture’s dividend payout ratio (DPR) is presently 51.79%.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets lifted their price objective on Accenture from $380.00 to $390.00 and gave the stock a “market perform” rating in a research report on Friday, September 27th. Robert W. Baird boosted their price objective on shares of Accenture from $350.00 to $370.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. Royal Bank of Canada raised their target price on shares of Accenture from $377.00 to $389.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. reduced 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. Finally, Mizuho lifted their price objective on Accenture from $352.00 to $365.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Accenture currently has an average rating of “Moderate Buy” and an average price target of $368.23.

Get Our Latest Analysis on Accenture

Insider Transactions at Accenture

In related news, insider Angela Beatty sold 673 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $372.18, for a total transaction of $250,477.14. Following the transaction, the insider now owns 5,650 shares in the company, valued at $2,102,817. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Accenture news, CEO Ryoji Sekido sold 3,191 shares of the 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 transaction, the chief executive officer now directly owns 6 shares in the company, valued at approximately $2,062.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela Beatty sold 673 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $372.18, for a total transaction of $250,477.14. Following the sale, the insider now directly owns 5,650 shares of the company’s stock, valued at approximately $2,102,817. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,298 shares of company stock worth $13,372,661 over the last three months. 0.07% of the stock is currently owned by company insiders.

About Accenture

(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.

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