Well Done LLC Has $571,000 Position in Accenture plc (NYSE:ACN)

Well Done LLC trimmed its stake in shares of Accenture plc (NYSE:ACN) by 4.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,614 shares of the information technology services provider’s stock after selling 73 shares during the quarter. Well Done LLC’s holdings in Accenture were worth $571,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Annapolis Financial Services LLC increased its position in Accenture by 507.7% during the 1st 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 in the last quarter. Unique Wealth Strategies LLC acquired a new position in Accenture during the 2nd quarter worth approximately $26,000. CarsonAllaria Wealth Management Ltd. acquired a new position in Accenture during the 1st quarter worth approximately $35,000. Tsfg LLC grew its holdings in Accenture by 267.9% during the 1st quarter. Tsfg LLC now owns 103 shares of the information technology services provider’s stock worth $36,000 after acquiring an additional 75 shares during the last quarter. Finally, Creekmur Asset Management LLC grew its holdings in Accenture by 108.0% during the 1st 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 during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Accenture

In related news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 value of $1,649,100.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Joel Unruch sold 8,145 shares of the company’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 in the company, valued at approximately $7,564,161.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.07% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ACN shares. TD Cowen raised shares of Accenture from a “hold” rating to a “buy” rating and boosted their target price for the stock from $321.00 to $400.00 in a report on Monday, September 30th. UBS Group boosted their target price on shares of Accenture from $400.00 to $415.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Bank of America boosted their target price on shares of Accenture from $365.00 to $388.00 and gave the stock a “buy” rating in a report on Friday, September 27th. The Goldman Sachs Group initiated coverage on shares of Accenture in a research note on Monday, June 24th. They issued a “neutral” rating and a $335.00 price objective on the stock. Finally, Citigroup upped their price objective 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. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and an average price target of $371.18.

Accenture Stock Performance

ACN traded down $0.67 during midday trading on Friday, hitting $374.48. The stock had a trading volume of 306,317 shares, compared to its average volume of 2,731,454. The company has a market cap of $234.68 billion, a P/E ratio of 34.37, a price-to-earnings-growth ratio of 3.47 and a beta of 1.25. The business has a fifty day moving average of $344.26 and a 200 day moving average of $321.51. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.01. The firm had revenue of $16.41 billion during the quarter, compared to the consensus estimate of $16.37 billion. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.71 earnings per share. On average, equities research analysts anticipate that Accenture plc will post 12.79 earnings per share for the current year.

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

Accenture Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 10th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Thursday, October 10th. This is an increase from Accenture’s previous quarterly dividend of $1.29. Accenture’s dividend payout ratio is currently 54.21%.

Accenture Company Profile

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.