Capstone Triton Financial Group LLC Takes $675,000 Position in Accenture plc (NYSE:ACN)

Capstone Triton Financial Group LLC bought a new position in shares of Accenture plc (NYSE:ACN) during the third quarter, Holdings Channel reports. The fund bought 1,910 shares of the information technology services provider’s stock, valued at approximately $675,000.

Other institutional investors have also recently bought and sold shares of the company. Edge Financial Advisors LLC purchased a new position in shares of Accenture during the 3rd quarter valued at $1,492,000. Pathway Financial Advisers LLC purchased a new position in Accenture in the third quarter valued at about $577,000. Avitas Wealth Management LLC increased its position in Accenture by 1.4% in the 3rd quarter. Avitas Wealth Management LLC now owns 4,945 shares of the information technology services provider’s stock worth $1,748,000 after purchasing an additional 68 shares during the last quarter. Childress Capital Advisors LLC increased its holdings in Accenture by 9.2% in the third quarter. Childress Capital Advisors LLC now owns 1,679 shares of the information technology services provider’s stock worth $594,000 after buying an additional 142 shares during the last quarter. Finally, Jacobsen Capital Management lifted its holdings in Accenture by 41.5% in the 3rd quarter. Jacobsen Capital Management now owns 935 shares of the information technology services provider’s stock worth $331,000 after purchasing an additional 274 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 8,136 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $362.07, for a total transaction of $2,945,801.52. Following the completion of the sale, the chief executive officer now owns 12,188 shares of the company’s stock, valued at $4,412,909.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Accenture news, CFO Kathleen R. Mcclure sold 5,090 shares of the 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 transaction, the chief financial officer now owns 38,825 shares in the company, valued at $14,490,266.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Julie Spellman Sweet sold 8,136 shares of Accenture stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $362.07, for a total transaction of $2,945,801.52. Following the sale, the chief executive officer now directly owns 12,188 shares in the company, valued at $4,412,909.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 33,107 shares of company stock worth $12,275,914. 0.07% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ACN has been the topic of several analyst reports. Piper Sandler upgraded Accenture from a “neutral” rating to an “overweight” rating and increased their price target for the company from $329.00 to $395.00 in a report on Thursday, September 26th. Bank of America lifted 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. Robert W. Baird upped their price target on shares of Accenture from $350.00 to $370.00 and gave the company a “neutral” rating in a report on Friday, September 27th. JPMorgan Chase & Co. dropped their price objective on Accenture from $376.00 to $370.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 24th. Finally, BMO Capital Markets increased their target price on Accenture from $380.00 to $390.00 and gave the company a “market perform” rating in a research note on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Accenture presently has a consensus rating of “Moderate Buy” and an average target price of $368.23.

Accenture Trading Down 2.7 %

Shares of NYSE:ACN traded down $9.65 during trading on Wednesday, hitting $353.39. 765,130 shares of the company’s stock traded hands, compared to its average volume of 2,712,683. The company has a 50-day moving average price of $351.54 and a 200-day moving average price of $323.52. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51. The company has a market cap of $220.93 billion, a price-to-earnings ratio of 31.28, a price-to-earnings-growth ratio of 3.47 and a beta of 1.25.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, September 26th. The information technology services provider reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.78 by $0.01. The company 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%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.71 earnings per share. On average, analysts predict that Accenture plc will post 12.79 earnings per share for the current fiscal year.

Accenture announced that its board has approved a share repurchase plan 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 buy up to 1.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Accenture Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 10th will be paid a $1.48 dividend. This is a positive change from Accenture’s previous quarterly dividend of $1.29. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $5.92 annualized dividend and a yield of 1.68%. Accenture’s dividend payout ratio is currently 51.79%.

Accenture 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.