Accenture plc (NYSE:ACN) Shares Acquired by Aaron Wealth Advisors LLC

by · The Markets Daily

Aaron Wealth Advisors LLC lifted its position in shares of Accenture plc (NYSE:ACN – Free Report) by 6.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,051 shares of the information technology services provider’s stock after acquiring an additional 449 shares during the period. Aaron Wealth Advisors LLC’s holdings in Accenture were worth $2,492,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ACN. Unique Wealth Strategies LLC acquired a new position in shares of Accenture during the 2nd quarter worth $26,000. Annapolis Financial Services LLC raised its stake in Accenture by 507.7% in the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 66 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in Accenture in the 2nd quarter valued at about $28,000. CarsonAllaria Wealth Management Ltd. acquired a new position in Accenture in the 1st quarter valued at about $35,000. Finally, Tsfg LLC raised its stake in Accenture by 267.9% in the 1st quarter. Tsfg LLC now owns 103 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Buying and Selling at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 458 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $373.25, for a total value of $170,948.50. Following the completion of the sale, the chief accounting officer now owns 9,777 shares of the company’s stock, valued at $3,649,265.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Joel Unruch sold 8,145 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the completion of the sale, the general counsel now owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Melissa A. Burgum sold 458 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $373.25, for a total transaction of $170,948.50. Following the sale, the chief accounting officer now directly owns 9,777 shares of the company’s stock, valued at $3,649,265.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,693 shares of company stock valued at $8,282,341 over the last 90 days. 0.07% of the stock is owned by corporate insiders.

Accenture Price Performance

NYSE ACN traded up $0.85 on Friday, reaching $376.00. The company had a trading volume of 435,901 shares, compared to its average volume of 2,732,188. 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 $344.26 and a 200-day moving average of $321.51. The firm has a market capitalization of $235.64 billion, a PE ratio of 34.37, a P/E/G ratio of 3.47 and a beta of 1.25.

Accenture (NYSE:ACN – Get Free Report) last issued its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.01. Accenture had a net margin of 11.20% and a return on equity of 26.83%. The company had revenue of $16.41 billion during 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. Accenture’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, sell-side analysts expect that Accenture plc will post 12.79 EPS for the current fiscal year.

Accenture announced that its board has authorized a share repurchase program on Thursday, September 26th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the information technology services provider to buy up to 1.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Accenture Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 10th will be given a $1.48 dividend. This is an increase from Accenture’s previous quarterly dividend of $1.29. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $5.92 annualized dividend and a yield of 1.57%. Accenture’s dividend payout ratio (DPR) is 54.21%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. UBS Group boosted their target price on shares of Accenture from $400.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, September 27th. The Goldman Sachs Group initiated coverage on shares of Accenture in a research note on Monday, June 24th. They issued a “neutral” rating and a $335.00 target price for the company. Citigroup upped their price objective on shares of Accenture from $350.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a research note on Friday, September 27th. Finally, Piper Sandler Companies reaffirmed a “neutral” rating and set a $329.00 price objective on shares of Accenture in a research note on Friday, September 20th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $371.18.

Check Out Our Latest Report on Accenture

Accenture Company Profile

(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.

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