Avior Wealth Management LLC Sells 359 Shares of Accenture plc (NYSE:ACN)

Avior Wealth Management LLC trimmed its stake in Accenture plc (NYSE:ACN) by 2.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,550 shares of the information technology services provider’s stock after selling 359 shares during the period. Avior Wealth Management LLC’s holdings in Accenture were worth $4,790,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Schrum Private Wealth Management LLC increased its stake in shares of Accenture by 78.6% in the third quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock worth $4,047,000 after acquiring an additional 5,038 shares during the period. MQS Management LLC purchased a new position in shares of Accenture during the 3rd quarter valued at about $1,040,000. M&G PLC grew its holdings in Accenture by 34.1% during the third quarter. M&G PLC now owns 292,808 shares of the information technology services provider’s stock worth $103,361,000 after acquiring an additional 74,438 shares during the period. Concurrent Investment Advisors LLC lifted its holdings in Accenture by 70.6% in the third quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock valued at $12,581,000 after acquiring an additional 14,724 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Accenture by 18.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 172,199 shares of the information technology services provider’s stock worth $52,247,000 after purchasing an additional 27,168 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Susquehanna increased their target price on shares of Accenture from $350.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. UBS Group upped 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. Citigroup raised their target price on shares of Accenture from $350.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Bank of America upped their price target on Accenture from $365.00 to $388.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, Royal Bank of Canada boosted 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. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $368.23.

Insider Transactions at Accenture

In other news, CFO Kathleen R. Mcclure sold 5,090 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $373.22, for a total transaction of $1,899,689.80. Following the completion of the sale, the chief financial officer now owns 38,825 shares in the company, valued at approximately $14,490,266.50. The trade was a 11.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Julie Spellman Sweet sold 9,000 shares of the company’s stock in a transaction on Monday, October 21st. The shares were 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 owns 20,324 shares of the company’s stock, valued at $7,645,075.84. This represents a 30.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,298 shares of company stock valued at $13,372,661. 0.07% of the stock is currently owned by company insiders.

Accenture Stock Up 0.3 %

Shares of NYSE ACN opened at $353.85 on Wednesday. Accenture plc has a 52-week low of $278.69 and a 52-week high of $387.51. The business’s 50 day moving average is $355.89 and its two-hundred day moving average is $328.19. The firm has a market cap of $221.21 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 3.09 and a beta of 1.25.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.01. The firm had revenue of $16.41 billion for the quarter, compared to analyst estimates of $16.37 billion. Accenture had a return on equity of 26.83% and a net margin of 11.20%. Accenture’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.71 EPS. Analysts anticipate that Accenture plc will post 12.77 EPS for the current fiscal year.

Accenture Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 10th were paid a dividend of $1.48 per share. This is an increase from Accenture’s previous quarterly dividend of $1.29. This represents a $5.92 annualized dividend and a yield of 1.67%. The ex-dividend date was Thursday, October 10th. Accenture’s dividend payout ratio is presently 51.79%.

Accenture announced that its Board of Directors has authorized a share buyback plan on Thursday, September 26th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the information technology services provider to buy up to 1.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management 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.