Valeo Financial Advisors LLC Has $2.86 Million Position in Accenture plc (NYSE:ACN)

by · The Cerbat Gem

Valeo Financial Advisors LLC raised its stake in Accenture plc (NYSE:ACN – Free Report) by 13.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 8,089 shares of the information technology services provider’s stock after buying an additional 969 shares during the period. Valeo Financial Advisors LLC’s holdings in Accenture were worth $2,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB acquired a new position in shares of Accenture in the first quarter valued at about $820,912,000. Clearbridge Investments LLC grew its stake in shares of Accenture by 44.7% in the second quarter. Clearbridge Investments LLC now owns 2,709,989 shares of the information technology services provider’s stock valued at $822,238,000 after acquiring an additional 837,677 shares in the last quarter. 1832 Asset Management L.P. grew its stake in Accenture by 251.3% during the second quarter. 1832 Asset Management L.P. now owns 995,896 shares of the information technology services provider’s stock worth $302,165,000 after buying an additional 712,400 shares in the last quarter. Capital International Investors grew its stake in Accenture by 196.5% during the first quarter. Capital International Investors now owns 988,094 shares of the information technology services provider’s stock worth $342,483,000 after buying an additional 654,807 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Accenture by 1.1% during the first quarter. Vanguard Group Inc. now owns 59,718,732 shares of the information technology services provider’s stock worth $20,699,110,000 after buying an additional 635,349 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ACN has been the topic of a number of analyst reports. Robert W. Baird increased their price objective on shares of Accenture from $350.00 to $370.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Piper Sandler upgraded shares of Accenture from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $329.00 to $395.00 in a research note on Thursday, September 26th. UBS Group increased their price objective on shares of Accenture from $400.00 to $415.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Susquehanna increased their target price on shares of Accenture from $350.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Finally, Guggenheim increased their target price on shares of Accenture from $380.00 to $395.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Accenture presently has a consensus rating of “Moderate Buy” and a consensus target price of $371.18.

Read Our Latest Stock Analysis on ACN

Insider Buying and Selling at Accenture

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the completion of the sale, the insider now owns 8,989 shares in the company, valued at approximately $2,964,751.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Ellyn Shook sold 5,000 shares of the company’s 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 completion of the sale, the insider now owns 8,989 shares in the company, valued at $2,964,751.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Joel Unruch sold 8,145 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the completion of the transaction, the general counsel now directly owns 22,849 shares in the company, valued at $7,564,161.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,645 shares of company stock worth $4,818,002. 0.07% of the stock is owned by corporate insiders.

Accenture Stock Down 0.1 %

NYSE:ACN opened at $360.74 on Friday. The company has a fifty day moving average of $339.97 and a 200-day moving average of $320.63. The firm has a market capitalization of $226.07 billion, a P/E ratio of 31.56, a P/E/G ratio of 3.47 and a beta of 1.25. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51.

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

Accenture Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 10th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Thursday, October 10th. This is a positive change from Accenture’s previous quarterly dividend of $1.29. Accenture’s payout ratio is 45.14%.

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

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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