Interchange Capital Partners LLC Has $313,000 Stake in Accenture plc (NYSE:ACN)

Interchange Capital Partners LLC lifted its position in Accenture plc (NYSE:ACN) by 3.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 882 shares of the information technology services provider’s stock after purchasing an additional 33 shares during the quarter. Interchange Capital Partners LLC’s holdings in Accenture were worth $313,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Unique Wealth Strategies LLC acquired a new position in shares of Accenture in the second quarter valued at $26,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in Accenture by 607.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 85 shares in the last quarter. CarsonAllaria Wealth Management Ltd. acquired a new position in Accenture during the first quarter worth $35,000. Creekmur Asset Management LLC raised its stake in Accenture by 108.0% during the first quarter. Creekmur Asset Management LLC now owns 104 shares of the information technology services provider’s stock worth $36,000 after acquiring an additional 54 shares in the last quarter. Finally, Chilton Capital Management LLC raised its stake in Accenture by 57.1% during the first quarter. Chilton Capital Management LLC now owns 110 shares of the information technology services provider’s stock worth $38,000 after acquiring an additional 40 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Price Performance

NYSE:ACN opened at $345.67 on Friday. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $387.51. The stock has a market capitalization of $216.10 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 3.03 and a beta of 1.25. The business’s 50-day simple moving average is $352.34 and its 200-day simple moving average is $324.05.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.78 by $0.01. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The business had revenue of $16.41 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same quarter last year, the firm earned $2.71 EPS. Accenture’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, research analysts expect that Accenture plc will post 12.77 earnings per share for the current year.

Accenture declared that its Board of Directors has approved a stock buyback 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 repurchase up to 1.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Accenture Increases Dividend

The company 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 $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Thursday, October 10th. This is a positive change from Accenture’s previous quarterly dividend of $1.29. Accenture’s dividend payout ratio (DPR) is currently 51.79%.

Insider Activity at Accenture

In other Accenture news, CFO Kathleen R. Mcclure sold 5,090 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $373.22, for a total transaction of $1,899,689.80. Following the transaction, the chief financial officer now owns 38,825 shares of the company’s stock, valued at $14,490,266.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Accenture news, CEO Julie Spellman Sweet sold 8,136 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 12,188 shares of the company’s stock, valued at $4,412,909.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kathleen R. Mcclure sold 5,090 shares of Accenture stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $373.22, for a total value of $1,899,689.80. Following the transaction, the chief financial officer now owns 38,825 shares of the company’s stock, valued at $14,490,266.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,107 shares of company stock valued at $12,275,914. 0.07% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ACN has been the subject of several recent analyst reports. Mizuho increased their price objective on Accenture from $352.00 to $365.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th. Guggenheim raised their target price on Accenture from $380.00 to $395.00 and gave the company a “buy” rating in a research note on Friday, September 27th. StockNews.com lowered Accenture from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. BNP Paribas lowered Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a research note on Wednesday. Finally, Bank of America raised their target price on Accenture from $365.00 to $388.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Accenture presently has a consensus rating of “Moderate Buy” and an average price target of $368.23.

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.