Bfsg LLC Acquires 572 Shares of Accenture plc (NYSE:ACN)

by · The Markets Daily

Bfsg LLC boosted its holdings in shares of Accenture plc (NYSE:ACN – Free Report) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,521 shares of the information technology services provider’s stock after buying an additional 572 shares during the quarter. Bfsg LLC’s holdings in Accenture were worth $6,547,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ACN. Annapolis Financial Services LLC raised its position in shares of Accenture by 507.7% during the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 66 shares during the period. Atwood & Palmer Inc. lifted its holdings in Accenture by 214.8% in the 1st 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 in the last quarter. Unique Wealth Strategies LLC bought a new position in Accenture in the 2nd quarter worth approximately $26,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in Accenture during the 1st quarter valued at approximately $35,000. Finally, Tsfg LLC raised its position in shares of Accenture by 267.9% during the first quarter. Tsfg LLC now owns 103 shares of the information technology services provider’s stock valued at $36,000 after buying an additional 75 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of Accenture from $377.00 to $389.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. TD Cowen upgraded Accenture from a “hold” rating to a “buy” rating and raised their price objective for the company from $321.00 to $400.00 in a research report on Monday, September 30th. UBS Group boosted their target price on Accenture from $400.00 to $415.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Piper Sandler upgraded Accenture from a “neutral” rating to an “overweight” rating and raised their price target for the company from $329.00 to $395.00 in a report on Thursday, September 26th. Finally, Robert W. Baird upped their price objective on Accenture from $350.00 to $370.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Accenture currently has a consensus rating of “Moderate Buy” and an average target price of $371.18.

Check Out Our Latest Stock Analysis on Accenture

Accenture Price Performance

Shares of ACN stock opened at $372.47 on Thursday. The company’s 50-day simple moving average is $343.07 and its two-hundred day simple moving average is $321.13. Accenture plc has a one year low of $278.69 and a one year high of $387.51. The company has a market capitalization of $233.42 billion, a P/E ratio of 34.11, a P/E/G ratio of 3.47 and a beta of 1.25.

Accenture (NYSE:ACN – Get Free Report) last released its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $2.79 EPS for the quarter, topping the consensus estimate of $2.78 by $0.01. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The company had revenue of $16.41 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same period last year, the business posted $2.71 EPS. Accenture’s quarterly revenue was up 2.6% on a year-over-year basis. On average, research analysts expect 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. Stockholders of record on Thursday, October 10th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Thursday, October 10th. This is a boost from Accenture’s previous quarterly dividend of $1.29. Accenture’s dividend payout ratio is presently 54.21%.

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

Insider Activity

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was 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 $2,964,751.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Accenture news, insider Ellyn Shook sold 5,000 shares of Accenture 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 transaction, the insider now directly owns 8,989 shares of the company’s stock, valued at approximately $2,964,751.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Joel Unruch sold 8,145 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $331.05, for a total value of $2,696,402.25. Following the completion of the sale, the general counsel now directly owns 22,849 shares of the company’s stock, valued at $7,564,161.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.

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.

See Also

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