Hutchens & Kramer Investment Management Group LLC Has $265,000 Stock Holdings in Accenture plc (NYSE:ACN)

Hutchens & Kramer Investment Management Group LLC boosted its stake in shares of Accenture plc (NYSE:ACN) by 11.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 753 shares of the information technology services provider’s stock after buying an additional 76 shares during the period. Hutchens & Kramer Investment Management Group LLC’s holdings in Accenture were worth $265,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Swedbank AB acquired a new position in Accenture during the 1st quarter worth approximately $820,912,000. Clearbridge Investments LLC grew its position in Accenture by 44.7% in the second quarter. Clearbridge Investments LLC now owns 2,709,989 shares of the information technology services provider’s stock valued at $822,238,000 after purchasing an additional 837,677 shares in the last quarter. 1832 Asset Management L.P. increased its stake in Accenture by 251.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 995,896 shares of the information technology services provider’s stock valued at $302,165,000 after buying an additional 712,400 shares during the last quarter. Capital International Investors boosted its stake in shares of Accenture by 196.5% during the 1st quarter. Capital International Investors now owns 988,094 shares of the information technology services provider’s stock worth $342,483,000 after buying an additional 654,807 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Accenture by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 59,718,732 shares of the information technology services provider’s stock valued at $20,699,110,000 after acquiring an additional 635,349 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Price Performance

NYSE:ACN traded up $4.06 during trading hours on Tuesday, reaching $368.66. 2,954,616 shares of the company were exchanged, compared to its average volume of 2,750,996. The company has a market capitalization of $231.04 billion, a P/E ratio of 33.76, a P/E/G ratio of 3.47 and a beta of 1.25. The business has a 50 day moving average of $340.99 and a 200 day moving average of $320.62. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, September 26th. The information technology services provider reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.01. The company had revenue of $16.41 billion for 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%. Accenture’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business earned $2.71 earnings per share. As a group, equities research analysts anticipate that Accenture plc will post 12.79 earnings per share for the current fiscal year.

Accenture Increases Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 1.61%. 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 currently 54.21%.

Accenture announced that its board has approved a stock repurchase program on Thursday, September 26th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the information technology services provider to reacquire up to 1.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts recently commented on ACN shares. Morgan Stanley cut Accenture from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $382.00 to $300.00 in a research report on Wednesday, June 26th. Royal Bank of Canada raised their target price on shares of Accenture from $377.00 to $389.00 and gave the company an “outperform” rating in a research note 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. Susquehanna lifted their price objective on shares of Accenture from $350.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. Finally, Citigroup raised their target price on shares of Accenture from $350.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $371.18.

Insider Activity

In other Accenture news, General Counsel Joel Unruch sold 8,145 shares of the business’s stock in a transaction dated 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 of the company’s stock, 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 can be accessed through the SEC website. In related news, insider Ellyn Shook sold 5,000 shares of the firm’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 completion of the transaction, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Joel Unruch sold 8,145 shares of the firm’s stock in a transaction dated 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 transaction, the general counsel now owns 22,849 shares of the company’s stock, valued at $7,564,161.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.07% of the company’s stock.

Accenture Company Profile

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.