AlphaCore Capital LLC Has $418,000 Stock Holdings in Accenture plc (NYSE:ACN)

AlphaCore Capital LLC grew its position in Accenture plc (NYSE:ACN) by 3.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,183 shares of the information technology services provider’s stock after purchasing an additional 44 shares during the quarter. AlphaCore Capital LLC’s holdings in Accenture were worth $418,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Unique Wealth Strategies LLC acquired a new position in Accenture in the second quarter valued at about $26,000. Strategic Financial Concepts LLC acquired a new position in shares of Accenture in the 2nd quarter valued at approximately $28,000. MidAtlantic Capital Management Inc. acquired a new stake in Accenture during the 3rd quarter worth approximately $30,000. Mowery & Schoenfeld Wealth Management LLC lifted its stake in Accenture by 607.1% in 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 buying an additional 85 shares in the last quarter. Finally, Creekmur Asset Management LLC increased its position in shares of Accenture by 108.0% during the first quarter. Creekmur Asset Management LLC now owns 104 shares of the information technology services provider’s stock worth $36,000 after acquiring an additional 54 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ACN. Guggenheim lifted their price target on Accenture from $380.00 to $395.00 and gave the company a “buy” rating in a research note on Friday, September 27th. BMO Capital Markets lifted their target price on Accenture from $380.00 to $390.00 and gave the company a “market perform” rating in a research report on Friday, September 27th. 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. TD Cowen upgraded shares of Accenture from a “hold” rating to a “buy” rating and increased their target price for the stock from $321.00 to $400.00 in a report on Monday, September 30th. Finally, Royal Bank of Canada lifted their price target 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. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Accenture has a consensus rating of “Moderate Buy” and a consensus target price of $368.23.

Insider Buying and Selling at Accenture

In other news, CEO Julie Spellman Sweet sold 9,000 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $376.16, for a total transaction of $3,385,440.00. Following the completion of the transaction, the chief executive officer now directly owns 20,324 shares in the company, valued at approximately $7,645,075.84. This represents a 30.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryoji Sekido sold 3,191 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $343.70, for a total value of $1,096,746.70. Following the completion of the sale, the chief executive officer now directly owns 6 shares of the company’s stock, valued at $2,062.20. The trade was a 99.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,298 shares of company stock valued at $13,372,661 over the last ninety days. 0.07% of the stock is currently owned by company insiders.

Accenture Trading Up 0.9 %

ACN stock opened at $360.41 on Friday. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51. The firm’s 50-day moving average price is $356.24 and its two-hundred day moving average price is $328.61. The stock has a market capitalization of $225.31 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 3.10 and a beta of 1.25.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share (EPS) for the quarter, beating 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 business had revenue of $16.41 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same period in the prior year, the firm posted $2.71 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. Equities analysts predict that Accenture plc will post 12.77 EPS for the current year.

Accenture Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 10th were given a $1.48 dividend. This is a positive change from Accenture’s previous quarterly dividend of $1.29. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Thursday, October 10th. Accenture’s dividend payout ratio is presently 51.79%.

Accenture declared that its Board of Directors has approved a share buyback program on Thursday, September 26th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 1.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

About Accenture

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.