Slow Capital Inc. Purchases 29 Shares of Accenture plc (NYSE:ACN)

by · The Cerbat Gem

Slow Capital Inc. increased its position in shares of Accenture plc (NYSE:ACN – Free Report) by 0.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,067 shares of the information technology services provider’s stock after acquiring an additional 29 shares during the period. Slow Capital Inc.’s holdings in Accenture were worth $3,205,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACN. Vanguard Group Inc. grew its position in shares of Accenture by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 59,718,732 shares of the information technology services provider’s stock valued at $20,699,110,000 after buying an additional 635,349 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Accenture by 1.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,912,962 shares of the information technology services provider’s stock valued at $3,311,102,000 after buying an additional 131,544 shares during the last quarter. Capital Research Global Investors grew its position in shares of Accenture by 2.0% in the 1st quarter. Capital Research Global Investors now owns 8,652,537 shares of the information technology services provider’s stock valued at $2,999,056,000 after buying an additional 173,107 shares during the last quarter. Legal & General Group Plc grew its position in shares of Accenture by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 5,887,266 shares of the information technology services provider’s stock valued at $1,786,256,000 after buying an additional 80,514 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of Accenture by 4.1% in the 1st quarter. Lazard Asset Management LLC now owns 3,797,028 shares of the information technology services provider’s stock valued at $1,316,086,000 after buying an additional 148,738 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Insider Activity

In other news, 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 completion of the transaction, the chief accounting officer now directly owns 9,777 shares of the company’s stock, valued at $3,649,265.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, 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 completion of the transaction, the chief accounting officer now directly owns 9,777 shares of the company’s stock, valued at $3,649,265.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ellyn Shook sold 5,000 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total value of $1,649,100.00. Following the transaction, the insider now directly owns 8,989 shares of the company’s stock, valued at approximately $2,964,751.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,693 shares of company stock valued at $8,282,341 over the last three months. Corporate insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ACN. Bank of America upped their price target on Accenture from $365.00 to $388.00 and gave the company a “buy” rating in a research report on Friday, September 27th. TD Cowen raised Accenture from a “hold” rating to a “buy” rating and boosted their price objective for the company from $321.00 to $400.00 in a research note on Monday, September 30th. Barclays boosted their price objective on Accenture from $350.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Royal Bank of Canada boosted their price objective on Accenture from $377.00 to $389.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Finally, UBS Group boosted their price objective on Accenture from $400.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $371.18.

Read Our Latest Report on ACN

Accenture Stock Up 0.5 %

Shares of Accenture stock opened at $376.86 on Friday. The company has a market cap of $236.18 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 3.47 and a beta of 1.25. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51. The business has a 50 day moving average price of $345.48 and a 200-day moving average price of $321.77.

Accenture (NYSE:ACN – Get Free Report) last issued its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $2.79 EPS for the quarter, topping the consensus estimate of $2.78 by $0.01. The firm had revenue of $16.41 billion during the quarter, compared to the consensus estimate of $16.37 billion. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.71 earnings per share. As a group, research analysts anticipate that Accenture plc will post 12.79 EPS for the current year.

Accenture declared that its Board of Directors has authorized a stock repurchase plan on Thursday, September 26th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the information technology services provider to purchase up to 1.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Accenture Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 10th will be issued a $1.48 dividend. The ex-dividend date of this dividend is 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 1.57%. Accenture’s dividend payout ratio is currently 54.21%.

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.

Recommended Stories

Want to see what other hedge funds are holding ACN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Accenture plc (NYSE:ACN – Free Report).