SteelPeak Wealth LLC Buys 95 Shares of Accenture plc (NYSE:ACN)

by · The Markets Daily

SteelPeak Wealth LLC lifted its stake in Accenture plc (NYSE:ACN – Free Report) by 10.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,023 shares of the information technology services provider’s stock after purchasing an additional 95 shares during the quarter. SteelPeak Wealth LLC’s holdings in Accenture were worth $362,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Unique Wealth Strategies LLC bought a new position in Accenture in the 2nd quarter valued at approximately $26,000. Mowery & Schoenfeld Wealth Management LLC lifted its position in Accenture by 607.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 85 shares in the last quarter. CarsonAllaria Wealth Management Ltd. bought a new position in Accenture in the 1st quarter valued at approximately $35,000. Creekmur Asset Management LLC lifted its position in Accenture by 108.0% in the 1st quarter. Creekmur Asset Management LLC now owns 104 shares of the information technology services provider’s stock valued at $36,000 after acquiring an additional 54 shares in the last quarter. Finally, Chilton Capital Management LLC lifted its position in Accenture by 57.1% in the 1st quarter. Chilton Capital Management LLC now owns 110 shares of the information technology services provider’s stock valued at $38,000 after acquiring an additional 40 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ACN shares. StockNews.com cut Accenture from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Piper Sandler Companies reissued a “neutral” rating and set a $329.00 price target on shares of Accenture in a report on Friday, September 20th. Citigroup increased their price target on Accenture from $350.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Bank of America increased their price target on Accenture from $365.00 to $388.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Piper Sandler raised Accenture from a “neutral” rating to an “overweight” rating and increased their price target for the company from $329.00 to $395.00 in a report on Thursday, September 26th. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $368.23.

Get Our Latest Stock Report on ACN

Accenture Stock Down 0.5 %

Shares of Accenture stock opened at $344.92 on Friday. The firm has a market cap of $215.63 billion, a price-to-earnings ratio of 30.18, a PEG ratio of 3.47 and a beta of 1.25. The business has a 50-day moving average price of $352.09 and a 200-day moving average price of $323.82. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51.

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

Accenture Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 10th will be issued a $1.48 dividend. This is an increase from Accenture’s previous quarterly dividend of $1.29. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.72%. Accenture’s dividend payout ratio (DPR) is presently 51.79%.

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 usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Accenture

In other Accenture news, COO John F. Walsh sold 5,000 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $373.24, for a total value of $1,866,200.00. Following the completion of the sale, the chief operating officer now owns 17,593 shares of the company’s stock, valued at $6,566,411.32. This trade 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 this hyperlink. In other Accenture news, COO John F. Walsh sold 5,000 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $373.24, for a total value of $1,866,200.00. Following the completion of the sale, the chief operating officer now owns 17,593 shares of the company’s stock, valued at $6,566,411.32. This trade 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 this hyperlink. Also, CEO Julie Spellman Sweet sold 8,136 shares of Accenture stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $362.07, for a total transaction of $2,945,801.52. Following the sale, the chief executive officer now directly owns 12,188 shares of the company’s stock, valued at $4,412,909.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,107 shares of company stock valued at $12,275,914. Insiders own 0.07% of the company’s stock.

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.

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