723 Shares in Accenture plc (NYSE:ACN) Acquired by M3 Advisory Group LLC

by · The Markets Daily

M3 Advisory Group LLC bought a new position in Accenture plc (NYSE:ACN – Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 723 shares of the information technology services provider’s stock, valued at approximately $256,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Unique Wealth Strategies LLC purchased a new stake in Accenture in the second quarter worth approximately $26,000. Annapolis Financial Services LLC raised its holdings 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 valued at $27,000 after acquiring an additional 66 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in Accenture in the second quarter worth $28,000. CarsonAllaria Wealth Management Ltd. bought a new position in Accenture in the first quarter worth $35,000. Finally, Tsfg LLC raised its holdings in Accenture by 267.9% in the first quarter. Tsfg LLC now owns 103 shares of the information technology services provider’s stock worth $36,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insiders Place Their Bets

In other Accenture news, General Counsel Joel Unruch sold 8,145 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $331.05, for a total value of $2,696,402.25. Following the completion of the sale, the general counsel now directly owns 22,849 shares in the company, valued at approximately $7,564,161.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Joel Unruch sold 8,145 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was 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 of the company’s stock, valued at approximately $7,564,161.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 value of $1,649,100.00. Following the completion of the transaction, the insider now directly owns 8,989 shares of the company’s stock, 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. Company insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ACN. BMO Capital Markets increased their price objective on Accenture from $380.00 to $390.00 and gave the stock a “market perform” rating in a report on Friday, September 27th. Mizuho increased their price objective on Accenture from $352.00 to $365.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Royal Bank of Canada increased their price objective on Accenture from $377.00 to $389.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Susquehanna increased their price objective on Accenture from $350.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. reduced their price target on Accenture from $376.00 to $370.00 and set an “overweight” rating for the company in a report on Tuesday, September 24th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $371.18.

Check Out Our Latest Report on ACN

Accenture Price Performance

Shares of Accenture stock traded up $0.65 on Friday, reaching $375.80. The company had a trading volume of 397,225 shares, compared to its average volume of 2,731,997. The firm has a market cap of $235.51 billion, a price-to-earnings ratio of 34.37, a P/E/G ratio of 3.47 and a beta of 1.25. The firm’s 50-day moving average price is $344.26 and its two-hundred day moving average price is $321.51. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.78 by $0.01. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The company had revenue of $16.41 billion during the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter in the previous year, the business earned $2.71 EPS. Accenture’s revenue was up 2.6% compared to the same quarter last year. As a group, analysts anticipate that Accenture plc will post 12.79 EPS for the current year.

Accenture declared that its Board of Directors has initiated a stock buyback plan on Thursday, September 26th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 1.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Accenture Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 10th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.58%. This is a boost from Accenture’s previous quarterly dividend of $1.29. The ex-dividend date is Thursday, October 10th. Accenture’s dividend payout ratio is currently 54.21%.

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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