Elevated Capital Advisors LLC Has $1.04 Million Stake in Accenture plc (NYSE:ACN)

Elevated Capital Advisors LLC raised its position in Accenture plc (NYSE:ACN) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,959 shares of the information technology services provider’s stock after purchasing an additional 68 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Accenture were worth $1,041,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ACN. Morse Asset Management Inc bought a new stake in Accenture during the 3rd quarter worth approximately $25,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Accenture in the third quarter worth $30,000. Mowery & Schoenfeld Wealth Management LLC increased its holdings 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 valued at $35,000 after purchasing an additional 85 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in Accenture during the 3rd quarter worth about $39,000. Finally, Reston Wealth Management LLC bought a new stake in shares of Accenture in the 3rd quarter valued at about $51,000. 75.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Accenture

In other news, insider Angela Beatty sold 673 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $372.18, for a total value of $250,477.14. Following the transaction, the insider now owns 5,650 shares of the company’s stock, valued at approximately $2,102,817. This represents a 10.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kathleen R. Mcclure sold 5,090 shares of Accenture stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $373.22, for a total value of $1,899,689.80. Following the sale, the chief financial officer now directly owns 38,825 shares of the company’s stock, valued at $14,490,266.50. This represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,673 shares of company stock worth $13,507,099 over the last ninety days. 0.02% of the stock is currently owned by company insiders.

Accenture Stock Down 0.2 %

Accenture stock traded down $0.65 during midday trading on Monday, hitting $349.14. 2,507,937 shares of the stock were exchanged, compared to its average volume of 2,537,471. Accenture plc has a 52-week low of $278.69 and a 52-week high of $387.51. The business’s 50-day moving average price is $357.82 and its 200-day moving average price is $344.30. The stock has a market capitalization of $218.49 billion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. The firm had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.27 EPS. On average, sell-side analysts predict that Accenture plc will post 12.74 earnings per share for the current fiscal year.

Accenture announced that its Board of Directors has initiated a share buyback plan 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Thursday, January 16th. Accenture’s dividend payout ratio is currently 49.66%.

Analyst Ratings Changes

A number of equities analysts recently commented on ACN shares. BMO Capital Markets lifted their price objective on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. TD Cowen upgraded shares of Accenture from a “hold” rating to a “buy” rating and increased their price objective for the stock from $321.00 to $400.00 in a research report on Monday, September 30th. Robert W. Baird restated a “neutral” rating and issued a $370.00 target price on shares of Accenture in a report on Tuesday, December 3rd. Jefferies Financial Group lifted their price objective on Accenture from $355.00 to $385.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. Finally, Citigroup upped their target price on Accenture from $350.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $385.04.

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.