RPg Family Wealth Advisory LLC Acquires Shares of 111 Accenture plc (NYSE:ACN)

RPg Family Wealth Advisory LLC bought a new position in Accenture plc (NYSE:ACN) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 111 shares of the information technology services provider’s stock, valued at approximately $39,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Unique Wealth Strategies LLC purchased a new position in Accenture during the second quarter worth $26,000. Strategic Financial Concepts LLC bought a new stake in shares of Accenture during the 2nd quarter worth approximately $28,000. MidAtlantic Capital Management Inc. purchased a new position in Accenture during the 3rd quarter valued at $30,000. Mowery & Schoenfeld Wealth Management LLC grew its position in Accenture by 607.1% in the 3rd 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 during the last quarter. Finally, Tsfg LLC increased its stake in Accenture by 31.1% in the second quarter. Tsfg LLC now owns 135 shares of the information technology services provider’s stock worth $41,000 after purchasing an additional 32 shares during the period. 75.14% of the stock is owned by institutional investors.

Accenture Trading Down 0.3 %

ACN opened at $362.23 on Thursday. The firm has a 50 day moving average of $357.61 and a two-hundred day moving average of $330.24. The firm has a market capitalization of $226.45 billion, a PE ratio of 31.69, a P/E/G ratio of 3.16 and a beta of 1.25. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51.

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, beating analysts’ consensus estimates of $2.78 by $0.01. The company had revenue of $16.41 billion during the quarter, compared to the consensus estimate of $16.37 billion. Accenture had a net margin of 11.20% and a return on equity of 26.83%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.71 earnings per share. As a group, analysts predict that Accenture plc will post 12.77 EPS for the current fiscal year.

Accenture Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 10th were issued a $1.48 dividend. The ex-dividend date was Thursday, October 10th. This is an increase from Accenture’s previous quarterly dividend of $1.29. This represents a $5.92 dividend on an annualized basis and a yield of 1.63%. Accenture’s payout ratio is presently 51.79%.

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

Analyst Ratings Changes

Several research analysts recently commented on the stock. Susquehanna raised their price target 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. JPMorgan Chase & Co. decreased their price target on shares of Accenture from $376.00 to $370.00 and set an “overweight” rating for the company in a research note on Tuesday, September 24th. BMO Capital Markets lifted their target price on Accenture from $380.00 to $390.00 and gave the company a “market perform” rating in a research report on Friday, September 27th. TD Cowen upgraded Accenture from a “hold” rating to a “buy” rating and raised their price target for the company from $321.00 to $400.00 in a research note on Monday, September 30th. Finally, BNP Paribas lowered shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target for the company. in a report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $368.23.

Insider Buying and Selling

In other news, CEO Ryoji Sekido sold 3,191 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 6 shares of the company’s stock, valued at $2,062.20. The trade was a 99.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Angela Beatty sold 673 shares of the firm’s 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 transaction, the insider now directly owns 5,650 shares in the company, valued at $2,102,817. This represents a 10.64 % decrease in their ownership of the stock. 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 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.