Accenture plc (NYSE:ACN) CFO Sells $242,750.30 in Stock

by · The Cerbat Gem

Accenture plc (NYSE:ACN – Get Free Report) CFO Angie Y. Park sold 685 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.38, for a total value of $242,750.30. Following the completion of the sale, the chief financial officer now owns 8,674 shares in the company, valued at approximately $3,073,892.12. This trade represents a 7.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Accenture Price Performance

Shares of ACN stock traded up $1.04 during trading on Tuesday, hitting $353.63. The company had a trading volume of 394,309 shares, compared to its average volume of 2,492,124. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market capitalization of $221.30 billion, a P/E ratio of 29.62, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. The stock’s 50-day moving average price is $357.49 and its 200 day moving average price is $346.26. Accenture plc has a one year low of $278.69 and a one year high of $387.51.

Accenture (NYSE:ACN – Get Free Report) last issued its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.16. The business had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $3.27 earnings per share. Equities analysts expect that Accenture plc will post 12.69 EPS for the current fiscal year.

Accenture announced that its board has authorized a stock repurchase program on Thursday, September 26th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the information technology services provider to repurchase up to 1.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Accenture Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, January 16th. Accenture’s payout ratio is presently 49.66%.

Institutional Investors Weigh In On Accenture

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Accenture during the fourth quarter worth $42,000. Exchange Traded Concepts LLC lifted its stake in Accenture by 10.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 558 shares of the information technology services provider’s stock worth $196,000 after purchasing an additional 54 shares during the last quarter. CX Institutional lifted its stake in Accenture by 12.1% during the fourth quarter. CX Institutional now owns 21,121 shares of the information technology services provider’s stock worth $7,430,000 after purchasing an additional 2,281 shares during the last quarter. Berbice Capital Management LLC bought a new position in shares of Accenture in the 4th quarter valued at $35,000. Finally, Encompass More Asset Management lifted its stake in shares of Accenture by 26.1% in the 4th quarter. Encompass More Asset Management now owns 958 shares of the information technology services provider’s stock valued at $337,000 after acquiring an additional 198 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ACN has been the topic of a number of recent research reports. Susquehanna lifted their target price on Accenture from $350.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. BMO Capital Markets lifted their target price on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Piper Sandler lifted their target price on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Jefferies Financial Group lifted their target price on Accenture from $355.00 to $385.00 and gave the company a “hold” rating in a research report on Friday, December 20th. Finally, Royal Bank of Canada lifted their target price on Accenture from $377.00 to $389.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $385.04.

View Our Latest Stock Report on ACN

Accenture Company Profile

(Get 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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