Accenture plc (NYSE:ACN) Shares Sold by Mendota Financial Group LLC

Mendota Financial Group LLC trimmed its position in Accenture plc (NYSE:ACN) by 69.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 84 shares of the information technology services provider’s stock after selling 190 shares during the quarter. Mendota Financial Group LLC’s holdings in Accenture were worth $30,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ACN. Fermata Advisors LLC raised its position in Accenture by 22.8% during the third quarter. Fermata Advisors LLC now owns 2,077 shares of the information technology services provider’s stock worth $734,000 after acquiring an additional 386 shares during the period. JGP Wealth Management LLC increased its holdings in shares of Accenture by 6.5% during the 3rd quarter. JGP Wealth Management LLC now owns 2,790 shares of the information technology services provider’s stock worth $986,000 after buying an additional 170 shares during the last quarter. West Coast Financial LLC grew its holdings in shares of Accenture by 1.2% during the 3rd quarter. West Coast Financial LLC now owns 34,612 shares of the information technology services provider’s stock worth $12,235,000 after purchasing an additional 397 shares during the period. DLK Investment Management LLC increased its holdings in Accenture by 4.3% in the 3rd quarter. DLK Investment Management LLC now owns 9,479 shares of the information technology services provider’s stock valued at $3,351,000 after purchasing an additional 389 shares during the last quarter. Finally, Castle Rock Wealth Management LLC raised its holdings in shares of Accenture by 4.3% in the 3rd quarter. Castle Rock Wealth Management LLC now owns 1,087 shares of the information technology services provider’s stock valued at $390,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on ACN shares. Piper Sandler Companies restated a “neutral” rating and set a $329.00 target price on shares of Accenture in a research note on Friday, September 20th. Susquehanna increased their target price on Accenture from $350.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Citigroup increased their price objective on Accenture from $350.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Mizuho raised their price target on Accenture from $352.00 to $365.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. reduced their target price on Accenture from $376.00 to $370.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 24th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $371.18.

Insider Transactions at Accenture

In other news, CFO Kathleen R. Mcclure sold 1,500 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $315.00, for a total transaction of $472,500.00. Following the completion of the sale, the chief financial officer now directly owns 38,570 shares in the company, valued at $12,149,550. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Accenture news, General Counsel Joel Unruch sold 8,145 shares of the firm’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 value of $2,696,402.25. Following the completion of the sale, the general counsel now owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kathleen R. Mcclure sold 1,500 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $315.00, for a total value of $472,500.00. Following the completion of the transaction, the chief financial officer now owns 38,570 shares in the company, valued at approximately $12,149,550. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,645 shares of company stock worth $4,818,002 over the last ninety days. 0.07% of the stock is owned by insiders.

Accenture Stock Down 0.1 %

Shares of Accenture stock opened at $360.71 on Friday. The firm’s 50-day moving average price is $339.97 and its two-hundred day moving average price is $320.74. The company has a market capitalization of $226.05 billion, a price-to-earnings ratio of 31.56, 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.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $2.79 EPS for the quarter, beating the consensus estimate of $2.78 by $0.01. Accenture had a net margin of 11.20% and a return on equity of 26.83%. The business had revenue of $16.41 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter in the prior year, the firm earned $2.71 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. On average, sell-side analysts expect that Accenture plc will post 12.79 earnings per share for the current year.

Accenture Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 10th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, October 10th. This is a positive change from Accenture’s previous quarterly dividend of $1.29. Accenture’s payout ratio is 45.14%.

Accenture declared that its board has authorized a stock repurchase program on Thursday, September 26th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the information technology services provider to buy up to 1.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership 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.