Global Retirement Partners LLC Has $3 Million Holdings in Accenture plc (NYSE:ACN)

Global Retirement Partners LLC increased its stake in shares of Accenture plc (NYSE:ACN) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,495 shares of the information technology services provider’s stock after purchasing an additional 260 shares during the period. Global Retirement Partners LLC’s holdings in Accenture were worth $3,003,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. NBC Securities Inc. grew its position in Accenture by 0.6% during the third quarter. NBC Securities Inc. now owns 5,206 shares of the information technology services provider’s stock worth $1,840,000 after buying an additional 30 shares in the last quarter. West Paces Advisors Inc. grew its position in Accenture by 10.2% during the first quarter. West Paces Advisors Inc. now owns 346 shares of the information technology services provider’s stock worth $120,000 after buying an additional 32 shares in the last quarter. Tsfg LLC grew its position in Accenture by 31.1% during the second quarter. Tsfg LLC now owns 135 shares of the information technology services provider’s stock worth $41,000 after buying an additional 32 shares in the last quarter. Meadow Creek Wealth Advisors LLC grew its position in Accenture by 4.5% during the second quarter. Meadow Creek Wealth Advisors LLC now owns 747 shares of the information technology services provider’s stock worth $227,000 after buying an additional 32 shares in the last quarter. Finally, Encompass More Asset Management grew its position in Accenture by 4.8% during the second quarter. Encompass More Asset Management now owns 700 shares of the information technology services provider’s stock worth $212,000 after buying an additional 32 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Joel Unruch sold 8,145 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $331.05, for a total value of $2,696,402.25. Following the transaction, the general counsel now directly owns 22,849 shares of the company’s stock, valued at $7,564,161.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Joel Unruch sold 8,145 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the transaction, the general counsel now directly owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total value of $1,649,100.00. Following the transaction, the insider now directly owns 8,989 shares in the company, valued at approximately $2,964,751.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.07% of the stock is owned by company insiders.

Accenture Trading Up 0.8 %

Shares of ACN opened at $375.30 on Friday. The company has a market capitalization of $235.20 billion, a PE ratio of 34.37, a PEG ratio of 3.47 and a beta of 1.25. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51. The stock’s 50-day moving average price is $344.26 and its two-hundred day moving average price is $321.51.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, September 26th. The information technology services provider reported $2.79 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 the consensus estimate of $16.37 billion. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.71 EPS. Equities research analysts predict that Accenture plc will post 12.79 EPS for the current fiscal year.

Accenture declared that its board has authorized 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 repurchase up to 1.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Accenture Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 10th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.58%. This is an increase from Accenture’s previous quarterly dividend of $1.29. The ex-dividend date is Thursday, October 10th. Accenture’s payout ratio is currently 54.21%.

Wall Street Analyst Weigh In

ACN has been the topic of a number of research analyst reports. UBS Group raised their target price on Accenture from $400.00 to $415.00 and gave the company a “buy” rating in a report on Friday, September 27th. The Goldman Sachs Group initiated coverage on Accenture in a report on Monday, June 24th. They issued a “neutral” rating and a $335.00 target price on the stock. Susquehanna raised their target price on Accenture from $350.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Bank of America raised their target price on Accenture from $365.00 to $388.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Robert W. Baird raised their target price on Accenture from $350.00 to $370.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $371.18.

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.