Accenture PLC $ACN Stake Increased by Ritholtz Wealth Management

Ritholtz Wealth Management boosted its holdings in shares of Accenture PLC (NYSE:ACN) by 138.4% during the 3rd quarter, Holdings Channel reports. The firm owned 37,674 shares of the information technology services provider’s stock after buying an additional 21,872 shares during the period. Ritholtz Wealth Management’s holdings in Accenture were worth $6,908,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ACN. Euro Pacific Asset Management LLC lifted its holdings in shares of Accenture by 11.2% in the third quarter. Euro Pacific Asset Management LLC now owns 117,589 shares of the information technology services provider’s stock worth $21,562,000 after buying an additional 11,873 shares in the last quarter. Regent Peak Wealth Advisors LLC grew its stake in Accenture by 10.4% during the second quarter. Regent Peak Wealth Advisors LLC now owns 74,187 shares of the information technology services provider’s stock valued at $9,232,000 after acquiring an additional 7,018 shares in the last quarter. Carnegie Investment Counsel grew its stake in Accenture by 63.5% during the third quarter. Carnegie Investment Counsel now owns 26,565 shares of the information technology services provider’s stock valued at $4,871,000 after acquiring an additional 10,322 shares in the last quarter. Dynamic Advisor Solutions LLC increased its holdings in Accenture by 72.4% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 19,455 shares of the information technology services provider’s stock valued at $2,421,000 after acquiring an additional 8,169 shares during the last quarter. Finally, Dearborn Partners LLC purchased a new stake in Accenture in the 2nd quarter worth $25,108,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Atsushi Egawa sold 10,000 shares of the stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $270.00, for a total transaction of $2,700,000.00. Following the sale, the chief executive officer owned 5,996 shares in the company, valued at approximately $1,618,920. This represents a 62.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Melissa A. Burgum sold 811 shares of the firm’s stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $250.00, for a total value of $202,750.00. Following the completion of the sale, the chief accounting officer owned 9,820 shares of the company’s stock, valued at approximately $2,455,000. This represents a 7.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 18,675 shares of company stock worth $4,747,563. 0.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup increased their price objective on shares of Accenture from $135.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, August 24th. Wells Fargo & Company boosted their target price on Accenture from $210.00 to $252.00 and gave the stock an “equal weight” rating in a research report on Monday, October 26th. Robert W. Baird lowered Accenture from an “outperform” rating to a “neutral” rating and increased their price target for the company from $245.00 to $252.00 in a research note on Wednesday, October 21st. Wolfe Research raised their price target on Accenture from $165.00 to $215.00 and gave the company an “outperform” rating in a report on Tuesday, August 25th. Finally, The Goldman Sachs Group lifted their price objective on Accenture from $230.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, October 1st. Ten research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $221.07.

Accenture Stock Down 1.4%

Shares of NYSE ACN opened at $250.20 on Friday. The firm’s 50-day moving average price is $215.58 and its 200-day moving average price is $191.35. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $147.88 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 1.95 and a beta of 1.01. Accenture PLC has a 12-month low of $118.15 and a 12-month high of $291.09.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, October 1st. The information technology services provider reported $3.29 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.11. The firm had revenue of $18.68 billion during the quarter, compared to the consensus estimate of $18.03 billion. Accenture had a net margin of 11.28% and a return on equity of 26.53%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm earned $3.03 EPS. Accenture has set its FY 2027 guidance at 14.390-14.810 EPS. On average, equities research analysts anticipate that Accenture PLC will post 14.68 EPS for the current fiscal year.

Accenture Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 13th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, October 13th. This is a positive change from Accenture’s previous quarterly dividend of $1.63. Accenture’s dividend payout ratio is 50.44%.

Accenture Profile

Accenture plc is a global professional services company that helps businesses, governments and other organizations solve operational and technology challenges. Its work includes strategy and management consulting, digital transformation, systems integration and the design, implementation and management of technology solutions. The company serves clients across a broad range of industries and geographies. Its services span cloud computing, data and artificial intelligence, cybersecurity, software and platforms, business process operations, and digital marketing and customer experience.