Alpha DNA Investment Management LLC Sells 43 Shares of Accenture plc (NYSE:ACN)

Alpha DNA Investment Management LLC trimmed its position in Accenture plc (NYSE:ACNFree Report) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,146 shares of the information technology services provider’s stock after selling 43 shares during the period. Alpha DNA Investment Management LLC’s holdings in Accenture were worth $1,112,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ACN. Unique Wealth Strategies LLC purchased a new stake in shares of Accenture in the 2nd quarter valued at about $26,000. MidAtlantic Capital Management Inc. bought a new position in shares of Accenture in the third quarter worth approximately $30,000. Mowery & Schoenfeld Wealth Management LLC lifted its position 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 valued at $35,000 after purchasing an additional 85 shares during the last quarter. Creekmur Asset Management LLC grew its stake in Accenture by 108.0% in the 1st quarter. Creekmur Asset Management LLC now owns 104 shares of the information technology services provider’s stock worth $36,000 after buying an additional 54 shares in the last quarter. Finally, Tsfg LLC increased its holdings in shares of Accenture by 31.1% in the 2nd quarter. Tsfg LLC now owns 135 shares of the information technology services provider’s stock worth $41,000 after buying an additional 32 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ACN. Barclays upped their target price on shares of Accenture from $350.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. decreased their price objective on Accenture from $376.00 to $370.00 and set an “overweight” rating on the stock in a report on Tuesday, September 24th. BMO Capital Markets upped their target price on Accenture from $380.00 to $390.00 and gave the stock a “market perform” rating in a research note on Friday, September 27th. Citigroup lifted their price target on shares of Accenture from $350.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, Royal Bank of Canada upped their price objective 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. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Accenture currently has an average rating of “Moderate Buy” and an average target price of $368.23.

Check Out Our Latest Stock Report on Accenture

Insider Activity at Accenture

In other Accenture news, CEO Ryoji Sekido sold 3,191 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $343.70, for a total value of $1,096,746.70. Following the sale, the chief executive officer now directly owns 6 shares of the company’s stock, valued at approximately $2,062.20. The trade was a 99.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kathleen R. Mcclure sold 5,090 shares of the firm’s 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 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 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,298 shares of company stock valued at $13,372,661 in the last three months. Company insiders own 0.07% of the company’s stock.

Accenture Price Performance

ACN stock opened at $358.66 on Friday. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51. The firm has a 50-day moving average of $356.42 and a 200 day moving average of $329.11. The company has a market cap of $224.22 billion, a P/E ratio of 31.38, a PEG ratio of 3.16 and a beta of 1.25.

Accenture (NYSE:ACNGet Free Report) last released its earnings results on Thursday, September 26th. The information technology services provider reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.78 by $0.01. The company had revenue of $16.41 billion during 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%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.71 EPS. On average, equities research analysts expect that Accenture plc will post 12.77 earnings per share for the current fiscal year.

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 paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.65%. This is a positive change from Accenture’s previous quarterly dividend of $1.29. The ex-dividend date of this dividend was Thursday, October 10th. Accenture’s dividend payout ratio (DPR) is presently 51.79%.

Accenture declared that its Board of Directors has initiated a stock repurchase program on Thursday, September 26th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the information technology services provider to purchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

About Accenture

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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