GFG Capital LLC Sells 601 Shares of Accenture plc (NYSE:ACN)

GFG Capital LLC trimmed its stake in Accenture plc (NYSE:ACN) by 6.2% during the 3rd quarter, Holdings Channel reports. The firm owned 9,081 shares of the information technology services provider’s stock after selling 601 shares during the quarter. Accenture comprises approximately 0.8% of GFG Capital LLC’s portfolio, making the stock its 27th biggest holding. GFG Capital LLC’s holdings in Accenture were worth $3,210,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in ACN. Community Financial Services Group LLC increased its holdings in Accenture by 1.0% during the 3rd quarter. Community Financial Services Group LLC now owns 5,095 shares of the information technology services provider’s stock valued at $1,801,000 after purchasing an additional 48 shares during the period. Plimoth Trust Co. LLC grew its position in Accenture by 8.5% in the 3rd quarter. Plimoth Trust Co. LLC now owns 5,557 shares of the information technology services provider’s stock worth $1,964,000 after purchasing an additional 434 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in Accenture by 19.2% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 14,994 shares of the information technology services provider’s stock valued at $5,300,000 after acquiring an additional 2,419 shares during the last quarter. Border to Coast Pensions Partnership Ltd lifted its stake in shares of Accenture by 4.5% in the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 125,455 shares of the information technology services provider’s stock worth $44,216,000 after purchasing an additional 5,352 shares during the period. Finally, James Hambro & Partners LLP boosted its stake in shares of Accenture by 7.5% during the 3rd quarter. James Hambro & Partners LLP now owns 1,426 shares of the information technology services provider’s stock worth $504,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Mizuho increased their target price on Accenture from $352.00 to $365.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Robert W. Baird boosted their price objective on 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 raised their target price for the stock from $329.00 to $395.00 in a report on Thursday, September 26th. Piper Sandler Companies reaffirmed a “neutral” rating and issued a $329.00 price objective on shares of Accenture in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Accenture from $376.00 to $370.00 and set an “overweight” rating for the company in a research note on Tuesday, September 24th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $371.18.

Insiders Place Their Bets

In other Accenture news, CFO Kathleen R. Mcclure sold 5,090 shares of the business’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $373.22, for a total transaction of $1,899,689.80. Following the completion of the transaction, the chief financial officer now directly owns 38,825 shares of the company’s stock, valued at $14,490,266.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Kathleen R. Mcclure sold 5,090 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $373.22, for a total transaction of $1,899,689.80. Following the completion of the sale, the chief financial officer now directly owns 38,825 shares in the company, valued at approximately $14,490,266.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO John F. Walsh sold 5,000 shares of the business’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $373.24, for a total value of $1,866,200.00. Following the sale, the chief operating officer now owns 17,593 shares in the company, valued at approximately $6,566,411.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,548 shares of company stock valued at $3,936,838. Company insiders own 0.07% of the company’s stock.

Accenture Trading Down 0.2 %

Shares of ACN opened at $376.03 on Tuesday. The stock has a market cap of $235.66 billion, a P/E ratio of 34.43, a PEG ratio of 3.47 and a beta of 1.25. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51. The company has a 50-day moving average of $346.72 and a two-hundred day moving average of $321.91.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.78 by $0.01. The company had revenue of $16.41 billion for 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% on a year-over-year basis. During the same quarter last year, the business earned $2.71 EPS. As a group, analysts forecast that Accenture plc will post 12.79 EPS for the current fiscal year.

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 paid a dividend of $1.48 per share. The ex-dividend date is Thursday, October 10th. This represents a $5.92 annualized dividend and a yield of 1.57%. This is a boost from Accenture’s previous quarterly dividend of $1.29. Accenture’s dividend payout ratio is presently 54.21%.

Accenture announced that its board has authorized a stock buyback 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 stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Accenture Company Profile

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.