TrinityPoint Wealth LLC Increases Stock Position in Accenture plc (NYSE:ACN)

TrinityPoint Wealth LLC lifted its holdings in Accenture plc (NYSE:ACN) by 3.1% during the third quarter, Holdings Channel reports. The institutional investor owned 4,140 shares of the information technology services provider’s stock after acquiring an additional 125 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Accenture were worth $1,463,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Masso Torrence Wealth Management Inc. increased its stake in shares of Accenture by 2.0% during the third quarter. Masso Torrence Wealth Management Inc. now owns 1,447 shares of the information technology services provider’s stock valued at $511,000 after purchasing an additional 28 shares in the last quarter. BSW Wealth Partners increased its position in Accenture by 0.7% during the 3rd quarter. BSW Wealth Partners now owns 4,077 shares of the information technology services provider’s stock valued at $1,441,000 after buying an additional 28 shares in the last quarter. Slow Capital Inc. raised its stake in Accenture by 0.3% during the third quarter. Slow Capital Inc. now owns 9,067 shares of the information technology services provider’s stock valued at $3,205,000 after buying an additional 29 shares during the last quarter. NBC Securities Inc. boosted its holdings in Accenture by 0.6% in the third quarter. NBC Securities Inc. now owns 5,206 shares of the information technology services provider’s stock worth $1,840,000 after acquiring an additional 30 shares in the last quarter. Finally, Conscious Wealth Investments LLC raised its position in shares of Accenture by 0.4% in the 3rd quarter. Conscious Wealth Investments LLC now owns 7,744 shares of the information technology services provider’s stock worth $2,870,000 after purchasing an additional 31 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Melissa A. Burgum sold 458 shares of the business’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $373.25, for a total value of $170,948.50. Following the sale, the chief accounting officer now directly owns 9,777 shares in the company, valued at approximately $3,649,265.25. The trade was a 4.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryoji Sekido sold 3,191 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $343.70, for a total value of $1,096,746.70. Following the transaction, the chief executive officer now owns 6 shares of the company’s stock, valued at $2,062.20. This represents a 99.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,298 shares of company stock worth $13,372,661 in the last three months. 0.07% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on ACN shares. Piper Sandler upgraded shares of Accenture from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $329.00 to $395.00 in a research note on Thursday, September 26th. BNP Paribas lowered shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective for the company. in a report on Wednesday, October 30th. Susquehanna increased their target price on Accenture from $350.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Barclays upped their price target on Accenture from $350.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Bank of America lifted their price objective on Accenture from $365.00 to $388.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $368.23.

Accenture Trading Down 2.3 %

NYSE ACN opened at $353.57 on Monday. The company’s 50 day moving average is $355.55 and its two-hundred day moving average is $327.46. The stock has a market cap of $221.04 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 3.09 and a beta of 1.25. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.01. The company had revenue of $16.41 billion during the quarter, compared to the consensus estimate of $16.37 billion. Accenture had a net margin of 11.20% and a return on equity of 26.83%. Accenture’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.71 EPS. Sell-side analysts forecast that Accenture plc will post 12.77 EPS for the current year.

Accenture declared that its board has authorized a share repurchase 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 purchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Accenture Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 10th were issued a $1.48 dividend. The ex-dividend date was Thursday, October 10th. This is a boost from Accenture’s previous quarterly dividend of $1.29. This represents a $5.92 dividend on an annualized basis and a yield of 1.67%. Accenture’s payout ratio is currently 51.79%.

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.