Arcadia Investment Management Corp MI Has $18.02 Million Stock Holdings in Accenture plc (NYSE:ACN)

Arcadia Investment Management Corp MI lowered its stake in Accenture plc (NYSE:ACN) by 2.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 50,987 shares of the information technology services provider’s stock after selling 1,243 shares during the quarter. Accenture accounts for 3.0% of Arcadia Investment Management Corp MI’s portfolio, making the stock its 10th biggest position. Arcadia Investment Management Corp MI’s holdings in Accenture were worth $18,023,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Unique Wealth Strategies LLC bought a new position in shares of Accenture during the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC purchased a new stake in Accenture in the second quarter worth $28,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in Accenture in the first quarter worth $35,000. Mowery & Schoenfeld Wealth Management LLC grew its stake in Accenture by 607.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 85 shares during the period. Finally, Creekmur Asset Management LLC grew its stake in Accenture by 108.0% in the first quarter. Creekmur Asset Management LLC now owns 104 shares of the information technology services provider’s stock worth $36,000 after purchasing an additional 54 shares during the period. Institutional investors own 75.14% of the company’s stock.

Analyst Ratings Changes

ACN has been the topic of several recent research reports. Piper Sandler Companies reaffirmed a “neutral” rating and issued a $329.00 price target on shares of Accenture in a research note on Friday, September 20th. Citigroup increased their price objective on Accenture from $350.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Piper Sandler raised Accenture from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $329.00 to $395.00 in a research report on Thursday, September 26th. BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective on the stock. in a research report on Wednesday. Finally, Bank of America increased their price objective on Accenture from $365.00 to $388.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $368.23.

Accenture Stock Up 0.2 %

NYSE ACN opened at $345.67 on Friday. The stock’s 50-day moving average price is $352.34 and its 200-day moving average price is $324.12. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51. The company has a market capitalization of $216.10 billion, a P/E ratio of 30.24, a price-to-earnings-growth ratio of 3.03 and a beta of 1.25.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $2.79 EPS for the quarter, topping 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 firm had revenue of $16.41 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter last year, the company earned $2.71 earnings per share. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Research analysts anticipate that Accenture plc will post 12.77 EPS for the current year.

Accenture Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 10th will be given a dividend of $1.48 per share. The ex-dividend date is Thursday, October 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.71%. This is a boost from Accenture’s previous quarterly dividend of $1.29. Accenture’s dividend payout ratio (DPR) is currently 51.79%.

Accenture declared that its board has authorized a stock repurchase plan on Thursday, September 26th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the information technology services provider to buy up to 1.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Julie Spellman Sweet sold 8,136 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $362.07, for a total transaction of $2,945,801.52. Following the completion of the sale, the chief executive officer now owns 12,188 shares in the company, valued at approximately $4,412,909.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Julie Spellman Sweet sold 8,136 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $362.07, for a total transaction of $2,945,801.52. Following the completion of the sale, the chief executive officer now owns 12,188 shares in the company, valued at approximately $4,412,909.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Angela Beatty sold 673 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $372.18, for a total value of $250,477.14. Following the sale, the insider now owns 5,650 shares of the company’s stock, valued at $2,102,817. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,107 shares of company stock worth $12,275,914. 0.07% of the stock is owned by corporate insiders.

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.