Trust Co. of Oklahoma Raises Holdings in Accenture plc (NYSE:ACN)

by · The Cerbat Gem

Trust Co. of Oklahoma lifted its holdings in Accenture plc (NYSE:ACN – Free Report) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,955 shares of the information technology services provider’s stock after acquiring an additional 189 shares during the period. Accenture accounts for approximately 1.5% of Trust Co. of Oklahoma’s holdings, making the stock its 18th biggest holding. Trust Co. of Oklahoma’s holdings in Accenture were worth $4,579,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ACN. Unique Wealth Strategies LLC bought a new position in shares of Accenture in the 2nd quarter valued at about $26,000. Annapolis Financial Services LLC lifted its stake in Accenture by 507.7% in the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 66 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in Accenture in the second quarter worth about $28,000. Atwood & Palmer Inc. lifted its stake in Accenture by 214.8% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 58 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in Accenture in the first quarter worth about $35,000. Institutional investors own 75.14% of the company’s stock.

Accenture Stock Performance

Shares of NYSE ACN traded up $4.23 during midday trading on Tuesday, reaching $368.83. 1,689,215 shares of the stock were exchanged, compared to its average volume of 2,744,631. The company has a 50 day simple moving average of $340.99 and a 200 day simple moving average of $320.62. The stock has a market capitalization of $231.14 billion, a P/E ratio of 33.41, a PEG 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 announced its quarterly earnings results on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.78 by $0.01. The business had revenue of $16.41 billion during the quarter, compared to the consensus estimate of $16.37 billion. Accenture had a net margin of 11.20% and a return on equity of 26.83%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.71 EPS. On average, research analysts expect that Accenture plc will post 12.79 earnings per share for the current year.

Accenture declared that its Board of Directors has approved a stock buyback plan on Thursday, September 26th that allows the company to repurchase $4.00 billion in 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 plans are generally a sign that the company’s leadership believes its stock is undervalued.

Accenture Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 10th will be given a dividend of $1.48 per share. The ex-dividend date is Thursday, October 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.61%. This is a boost from Accenture’s previous quarterly dividend of $1.29. Accenture’s dividend payout ratio (DPR) is presently 54.21%.

Insider Buying and Selling

In related news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the insider now 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Accenture news, General Counsel Joel Unruch sold 8,145 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $331.05, for a total value of $2,696,402.25. Following the completion of the transaction, the general counsel now owns 22,849 shares of the company’s stock, valued at $7,564,161.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 8,989 shares of the company’s stock, valued at $2,964,751.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Guggenheim raised their price objective on shares of Accenture from $380.00 to $395.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. BMO Capital Markets lifted their price target on shares of Accenture from $380.00 to $390.00 and gave the company a “market perform” rating in a research note on Friday, September 27th. Susquehanna lifted their price target on shares of Accenture from $350.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Citigroup lifted their price target on shares of Accenture from $350.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, Mizuho lifted their price target 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. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $371.18.

Read Our Latest Research Report on ACN

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.

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