Little House Capital LLC Decreases Stake in Accenture plc (NYSE:ACN)

by · The Markets Daily

Little House Capital LLC lowered its position in shares of Accenture plc (NYSE:ACN – Free Report) by 44.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 691 shares of the information technology services provider’s stock after selling 551 shares during the quarter. Little House Capital LLC’s holdings in Accenture were worth $244,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ACN. Unique Wealth Strategies LLC acquired a new position in shares of Accenture in the 2nd quarter valued at approximately $26,000. Annapolis Financial Services LLC raised its position in shares of Accenture by 507.7% in the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 66 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Accenture in the 2nd quarter valued at approximately $28,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Accenture during the 1st quarter valued at approximately $35,000. Finally, Tsfg LLC raised its position in shares of Accenture by 267.9% during the 1st quarter. Tsfg LLC now owns 103 shares of the information technology services provider’s stock valued at $36,000 after acquiring an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analysts Set New Price Targets

ACN has been the topic of several research reports. 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 report on Friday, September 27th. Citigroup upped their price objective on 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 increased their price target on Accenture from $380.00 to $390.00 and gave the stock a “market perform” rating in a research note on Friday, September 27th. Barclays increased their price target on Accenture from $350.00 to $415.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Guggenheim increased their price target on Accenture from $380.00 to $395.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $371.18.

View Our Latest Research Report on Accenture

Insider Activity

In related news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction that occurred 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 transaction, the insider now owns 8,989 shares of the company’s stock, valued at $2,964,751.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Kathleen R. Mcclure sold 5,090 shares of the business’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $373.22, for a total transaction of $1,899,689.80. Following the transaction, the chief financial officer now directly owns 38,825 shares in the company, valued at approximately $14,490,266.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale 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 stock was sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the transaction, the insider now owns 8,989 shares in the company, valued at approximately $2,964,751.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,548 shares of company stock valued at $5,585,938. 0.07% of the stock is currently owned by insiders.

Accenture Stock Performance

ACN traded down $0.65 during midday trading on Monday, hitting $376.21. The company had a trading volume of 687,903 shares, compared to its average volume of 2,729,297. The company has a market capitalization of $235.77 billion, a PE ratio of 34.51, a P/E/G ratio of 3.47 and a beta of 1.25. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51. The firm’s 50-day simple moving average is $345.48 and its 200-day simple moving average is $321.59.

Accenture (NYSE:ACN – Get Free Report) last posted its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.01. The firm had revenue of $16.41 billion during the quarter, compared to analysts’ expectations of $16.37 billion. Accenture had a net margin of 11.20% and a return on equity of 26.83%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.71 EPS. As a group, sell-side analysts anticipate that Accenture plc will post 12.79 EPS for the current fiscal year.

Accenture Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 10th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Thursday, October 10th. This is a positive change from Accenture’s previous quarterly dividend of $1.29. Accenture’s dividend payout ratio (DPR) is 54.21%.

Accenture announced that its Board of Directors 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 reacquire up to 1.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Accenture 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.

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