Kingsview Wealth Management LLC Purchases 240 Shares of Accenture plc (NYSE:ACN)

Kingsview Wealth Management LLC boosted its position in Accenture plc (NYSE:ACN) by 2.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,787 shares of the information technology services provider’s stock after purchasing an additional 240 shares during the period. Kingsview Wealth Management LLC’s holdings in Accenture were worth $3,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of ACN. Unique Wealth Strategies LLC purchased a new stake in shares of Accenture during the second quarter valued at $26,000. Strategic Financial Concepts LLC purchased a new stake in Accenture in the 2nd quarter valued at about $28,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Accenture during the third quarter worth approximately $30,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of Accenture by 607.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 85 shares in the last quarter. Finally, Creekmur Asset Management LLC boosted its holdings in shares of Accenture by 108.0% in the first quarter. Creekmur Asset Management LLC now owns 104 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 54 shares during the period. Institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling

In other Accenture news, CEO Ryoji Sekido sold 3,191 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $343.70, for a total transaction of $1,096,746.70. Following the completion of the transaction, the chief executive officer now directly owns 6 shares in the company, valued at approximately $2,062.20. This represents a 99.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Angela Beatty sold 673 shares of Accenture stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $372.18, for a total transaction of $250,477.14. Following the completion of the sale, the insider now owns 5,650 shares in the company, valued at approximately $2,102,817. This trade represents a 10.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,298 shares of company stock valued at $13,372,661. Corporate insiders own 0.07% of the company’s stock.

Accenture Price Performance

Shares of Accenture stock opened at $358.66 on Monday. 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 $224.22 billion, a PE ratio of 31.38, a price-to-earnings-growth ratio of 3.16 and a beta of 1.25. The firm has a fifty day moving average price of $356.42 and a 200 day moving average price of $329.23.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.01. The business had revenue of $16.41 billion during the quarter, compared to analysts’ expectations of $16.37 billion. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.71 EPS. As a group, equities analysts expect that Accenture plc will post 12.77 EPS for the current year.

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

Accenture Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 10th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.65%. This is a positive change from Accenture’s previous quarterly dividend of $1.29. The ex-dividend date was Thursday, October 10th. Accenture’s payout ratio is 51.79%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Citigroup increased their price target on Accenture from $350.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Piper Sandler raised shares of Accenture from a “neutral” rating to an “overweight” rating and raised their target price for the company from $329.00 to $395.00 in a research report on Thursday, September 26th. Robert W. Baird upped their price target on shares of Accenture from $350.00 to $370.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Guggenheim lifted their price objective on shares of Accenture from $380.00 to $395.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, BNP Paribas lowered Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Accenture currently has an average rating of “Moderate Buy” and a consensus price target of $368.23.

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.