Angeles Wealth Management LLC Has $1.03 Million Stock Holdings in Accenture plc (NYSE:ACN)

Angeles Wealth Management LLC grew its position in shares of Accenture plc (NYSE:ACN) by 10.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,905 shares of the information technology services provider’s stock after purchasing an additional 273 shares during the quarter. Angeles Wealth Management LLC’s holdings in Accenture were worth $1,027,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Lincoln National Corp lifted its stake in shares of Accenture by 4.6% in the first quarter. Lincoln National Corp now owns 8,926 shares of the information technology services provider’s stock worth $3,094,000 after acquiring an additional 390 shares during the period. Financial Counselors Inc. lifted its stake in shares of Accenture by 7.7% in the first quarter. Financial Counselors Inc. now owns 19,012 shares of the information technology services provider’s stock worth $6,590,000 after acquiring an additional 1,352 shares during the period. Pegasus Asset Management Inc. lifted its stake in shares of Accenture by 0.3% in the first quarter. Pegasus Asset Management Inc. now owns 18,503 shares of the information technology services provider’s stock worth $6,413,000 after acquiring an additional 47 shares during the period. Suncoast Equity Management lifted its stake in shares of Accenture by 3.1% in the first quarter. Suncoast Equity Management now owns 130,999 shares of the information technology services provider’s stock worth $45,406,000 after acquiring an additional 3,951 shares during the period. Finally, Whittier Trust Co. lifted its stake in shares of Accenture by 1.3% in the first quarter. Whittier Trust Co. now owns 99,278 shares of the information technology services provider’s stock worth $34,409,000 after acquiring an additional 1,231 shares during the period. 75.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ACN. Royal Bank of Canada lifted their price objective on Accenture from $377.00 to $389.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Guggenheim lifted their target price on Accenture from $380.00 to $395.00 and gave the stock a “buy” rating in a report on Friday, September 27th. BNP Paribas downgraded Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a report on Wednesday. Robert W. Baird lifted their target price on Accenture from $350.00 to $370.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Finally, TD Cowen upgraded Accenture from a “hold” rating to a “buy” rating and lifted their target price for the stock from $321.00 to $400.00 in a report on Monday, September 30th. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $368.23.

Accenture Stock Up 0.2 %

ACN stock traded up $0.85 during midday trading on Friday, hitting $345.67. The company’s stock had a trading volume of 2,579,809 shares, compared to its average volume of 2,728,620. The stock’s 50-day moving average price is $352.34 and its 200 day moving average price is $324.12. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51. The stock has a market cap of $216.10 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 3.03 and a beta of 1.25.

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

Accenture Increases Dividend

The company 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 dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.71%. 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 currently 51.79%.

Accenture declared that its Board of Directors has authorized a share repurchase program on Thursday, September 26th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to purchase up to 1.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, COO John F. Walsh sold 5,000 shares of the business’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $373.24, for a total transaction of $1,866,200.00. Following the sale, the chief operating officer now directly owns 17,593 shares in the company, valued at approximately $6,566,411.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO John F. Walsh sold 5,000 shares of the business’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $373.24, for a total transaction of $1,866,200.00. Following the sale, the chief operating officer now directly owns 17,593 shares in the company, valued at approximately $6,566,411.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Julie Spellman Sweet sold 8,136 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $362.07, for a total value of $2,945,801.52. Following the sale, the chief executive officer now owns 12,188 shares in the company, valued at approximately $4,412,909.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,107 shares of company stock valued at $12,275,914 in the last 90 days. Insiders own 0.07% of the company’s stock.

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.