Tower Wealth Partners Inc. Makes New Investment in Accenture plc (NYSE:ACN)

Tower Wealth Partners Inc. acquired a new stake in Accenture plc (NYSE:ACN) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 653 shares of the information technology services provider’s stock, valued at approximately $231,000.

A number of 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 about $26,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in Accenture by 607.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 85 shares during the last quarter. CarsonAllaria Wealth Management Ltd. bought a new position in Accenture in the first quarter valued at approximately $35,000. Creekmur Asset Management LLC raised its stake in shares of Accenture by 108.0% during the 1st quarter. Creekmur Asset Management LLC now owns 104 shares of the information technology services provider’s stock worth $36,000 after purchasing an additional 54 shares in the last quarter. Finally, Chilton Capital Management LLC boosted its holdings in shares of Accenture by 57.1% in the 1st quarter. Chilton Capital Management LLC now owns 110 shares of the information technology services provider’s stock valued at $38,000 after buying an additional 40 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ACN. Piper Sandler Companies reaffirmed a “neutral” rating and set a $329.00 price target on shares of Accenture in a research report on Friday, September 20th. TD Cowen upgraded shares of Accenture from a “hold” rating to a “buy” rating and raised their target price for the company from $321.00 to $400.00 in a research note on Monday, September 30th. UBS Group boosted their price target on Accenture from $400.00 to $415.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Bank of America raised their price objective on Accenture from $365.00 to $388.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, Robert W. Baird increased their price target on Accenture from $350.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $368.23.

Insiders Place Their Bets

In other Accenture news, CEO Julie Spellman Sweet sold 8,136 shares of Accenture stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $362.07, for a total value of $2,945,801.52. Following the transaction, the chief executive officer now owns 12,188 shares in the company, valued at $4,412,909.16. The trade was 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 link. In other Accenture news, CEO Julie Spellman Sweet sold 8,136 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $362.07, for a total transaction of $2,945,801.52. Following the sale, the chief executive officer now owns 12,188 shares of the company’s stock, valued at approximately $4,412,909.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Melissa A. Burgum sold 458 shares of the company’s stock in a transaction dated 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 approximately $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 33,107 shares of company stock worth $12,275,914 over the last three months. Insiders own 0.07% of the company’s stock.

Accenture Price Performance

Shares of NYSE:ACN opened at $345.67 on Friday. The company has a market capitalization of $216.10 billion, a P/E ratio of 30.24, a P/E/G ratio of 3.03 and a beta of 1.25. The business’s 50 day simple moving average is $352.34 and its 200 day simple moving average is $324.05. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51.

Accenture (NYSE:ACN) last posted 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. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The business had revenue of $16.41 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter in the previous year, the firm earned $2.71 earnings per share. Accenture’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Accenture plc will post 12.77 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 given a dividend of $1.48 per share. This is an increase from Accenture’s previous quarterly dividend of $1.29. This represents a $5.92 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Thursday, October 10th. Accenture’s payout ratio is currently 51.79%.

Accenture announced that its Board of Directors has authorized a stock repurchase program on Thursday, September 26th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire up to 1.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Accenture 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.