TCV Trust & Wealth Management Inc. Grows Stock Holdings in Accenture plc (NYSE:ACN)

TCV Trust & Wealth Management Inc. raised its position in shares of Accenture plc (NYSE:ACN) by 1.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,830 shares of the information technology services provider’s stock after acquiring an additional 561 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in Accenture were worth $10,544,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Accenture by 18.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 172,199 shares of the information technology services provider’s stock valued at $52,247,000 after acquiring an additional 27,168 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Accenture by 13.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 183,446 shares of the information technology services provider’s stock valued at $63,584,000 after acquiring an additional 21,516 shares during the last quarter. M&G Plc bought a new position in shares of Accenture in the first quarter worth about $19,007,000. Creative Planning grew its holdings in shares of Accenture by 5.5% in the third quarter. Creative Planning now owns 247,724 shares of the information technology services provider’s stock worth $87,566,000 after purchasing an additional 12,993 shares during the last quarter. Finally, First Long Island Investors LLC grew its holdings in shares of Accenture by 27.8% in the first quarter. First Long Island Investors LLC now owns 65,717 shares of the information technology services provider’s stock worth $22,778,000 after purchasing an additional 14,283 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Guggenheim upped their price target on shares of Accenture from $380.00 to $395.00 and gave the stock a “buy” rating in a report on Friday, September 27th. UBS Group upped their price target on shares of Accenture from $400.00 to $415.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Royal Bank of Canada upped their price target on shares of Accenture from $377.00 to $389.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. JPMorgan Chase & Co. cut their price target on shares of Accenture from $376.00 to $370.00 and set an “overweight” rating on the stock in a report on Tuesday, September 24th. Finally, Citigroup increased their target price on shares of Accenture from $350.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $371.18.

Insider Activity at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 458 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $373.25, for a total transaction of $170,948.50. Following the completion of the transaction, the chief accounting officer now directly owns 9,777 shares of the company’s stock, valued at approximately $3,649,265.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Accenture news, CAO Melissa A. Burgum sold 458 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $373.25, for a total transaction of $170,948.50. Following the completion of the transaction, the chief accounting officer now directly owns 9,777 shares of the company’s stock, valued at approximately $3,649,265.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kathleen R. Mcclure sold 5,090 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $373.22, for a total transaction of $1,899,689.80. Following the transaction, the chief financial officer now directly owns 38,825 shares of the company’s stock, valued at $14,490,266.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,971 shares of company stock valued at $9,330,113 in the last three months. 0.07% of the stock is owned by insiders.

Accenture Stock Down 0.9 %

Shares of Accenture stock opened at $360.80 on Friday. The firm has a market capitalization of $226.11 billion, a P/E ratio of 33.04, a PEG ratio of 3.47 and a beta of 1.25. The company has a 50 day moving average price of $350.24 and a 200 day moving average price of $322.94. Accenture plc has a 52 week low of $278.69 and a 52 week 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 EPS 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 analyst estimates of $16.37 billion. Accenture had a net margin of 11.20% and a return on equity of 26.83%. Accenture’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm posted $2.71 EPS. As a group, research analysts anticipate that Accenture plc will post 12.79 earnings per share for the current fiscal year.

Accenture Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 10th will be given a $1.48 dividend. This is a positive change from Accenture’s previous quarterly dividend of $1.29. This represents a $5.92 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, October 10th. Accenture’s dividend payout ratio (DPR) is presently 54.21%.

Accenture announced that its Board of Directors has approved a share repurchase program on Thursday, September 26th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 1.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.