Vinva Investment Management Ltd Has $4.50 Million Position in Accenture plc (NYSE:ACN)

29 Nov 2024, 14:50 by Tristan Rich · The Markets Daily

Vinva Investment Management Ltd boosted its holdings in shares of Accenture plc (NYSE:ACN – Free Report) by 94.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,855 shares of the information technology services provider’s stock after buying an additional 6,238 shares during the period. Vinva Investment Management Ltd’s holdings in Accenture were worth $4,495,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Masso Torrence Wealth Management Inc. boosted its stake in 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 worth $511,000 after buying an additional 28 shares in the last quarter. BSW Wealth Partners boosted its stake in shares of Accenture by 0.7% in 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 purchasing an additional 28 shares in the last quarter. Slow Capital Inc. boosted its stake in shares of Accenture by 0.3% in the 3rd quarter. Slow Capital Inc. now owns 9,067 shares of the information technology services provider’s stock valued at $3,205,000 after purchasing an additional 29 shares in the last quarter. NBC Securities Inc. boosted its stake in shares of Accenture by 0.6% in the 3rd quarter. NBC Securities Inc. now owns 5,206 shares of the information technology services provider’s stock valued at $1,840,000 after purchasing an additional 30 shares in the last quarter. Finally, Conscious Wealth Investments LLC boosted its stake 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 valued at $2,870,000 after purchasing an additional 31 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on ACN shares. Mizuho boosted their target price on shares of Accenture from $352.00 to $365.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. Robert W. Baird boosted their target price on shares of Accenture from $350.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Piper Sandler Companies reaffirmed a “neutral” rating and issued a $329.00 price target on shares of Accenture in a report on Friday, September 20th. TD Cowen raised Accenture from a “hold” rating to a “buy” rating and lifted their price target for the company from $321.00 to $400.00 in a report on Monday, September 30th. Finally, Guggenheim lifted their price target on Accenture from $380.00 to $395.00 and gave the company a “buy” rating in a report on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $368.23.

Read Our Latest Report on ACN

Accenture Price Performance

Shares of ACN stock opened at $362.16 on Friday. The stock has a market cap of $226.41 billion, a PE ratio of 31.69, a price-to-earnings-growth ratio of 3.16 and a beta of 1.25. The stock has a 50-day moving average of $358.15 and a 200-day moving average of $330.46. Accenture plc has a one year low of $278.69 and a one year high of $387.51.

Accenture (NYSE:ACN – Get Free Report) last announced its quarterly 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%. Accenture’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.71 EPS. As a group, research analysts anticipate that Accenture plc will post 12.77 earnings per share for the current year.

Accenture Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 10th were given a $1.48 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This is a positive change from Accenture’s previous quarterly dividend of $1.29. This represents a $5.92 annualized dividend and a dividend yield of 1.63%. Accenture’s payout ratio is currently 51.79%.

Accenture announced that its board has approved a stock repurchase plan on Thursday, September 26th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 1.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at Accenture

In other Accenture news, insider Angela Beatty sold 673 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $372.18, for a total transaction of $250,477.14. Following the completion of the transaction, the insider now owns 5,650 shares of the company’s stock, valued at $2,102,817. This represents a 10.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Melissa A. Burgum sold 458 shares of the company’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 value of $170,948.50. Following the transaction, the chief accounting officer now directly owns 9,777 shares of the company’s stock, valued at approximately $3,649,265.25. This trade represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 36,298 shares of company stock worth $13,372,661. 0.07% of the stock is owned by company insiders.

Accenture 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.