Capstone Triton Financial Group LLC Acquires Shares of 1,910 Accenture plc (NYSE:ACN)

Capstone Triton Financial Group LLC purchased a new position in Accenture plc (NYSE:ACN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,910 shares of the information technology services provider’s stock, valued at approximately $675,000.

Other hedge funds have also recently modified their holdings of the company. Masso Torrence Wealth Management Inc. raised its stake in shares of Accenture by 2.0% during the 3rd quarter. Masso Torrence Wealth Management Inc. now owns 1,447 shares of the information technology services provider’s stock worth $511,000 after acquiring an additional 28 shares in the last quarter. Slow Capital Inc. raised its stake in shares of Accenture by 0.3% during the 3rd quarter. Slow Capital Inc. now owns 9,067 shares of the information technology services provider’s stock worth $3,205,000 after acquiring an additional 29 shares in the last quarter. NBC Securities Inc. raised its stake in shares of Accenture by 0.6% during the 3rd quarter. NBC Securities Inc. now owns 5,206 shares of the information technology services provider’s stock worth $1,840,000 after acquiring an additional 30 shares in the last quarter. Conscious Wealth Investments LLC raised its stake in shares of Accenture by 0.4% during the 3rd quarter. Conscious Wealth Investments LLC now owns 7,744 shares of the information technology services provider’s stock worth $2,870,000 after acquiring an additional 31 shares in the last quarter. Finally, Tsfg LLC raised its stake in shares of Accenture by 31.1% during the 2nd quarter. Tsfg LLC now owns 135 shares of the information technology services provider’s stock worth $41,000 after acquiring an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Activity at Accenture

In related news, CAO Melissa A. Burgum sold 458 shares of the stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $373.25, for a total transaction of $170,948.50. Following the transaction, the chief accounting officer now directly owns 9,777 shares in the company, valued at approximately $3,649,265.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Melissa A. Burgum sold 458 shares of Accenture stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $373.25, for a total transaction of $170,948.50. Following the sale, the chief accounting officer now owns 9,777 shares of the company’s stock, valued at $3,649,265.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Angela Beatty sold 673 shares of the company’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 of the company’s stock, valued at approximately $2,102,817. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,107 shares of company stock valued at $12,275,914. Company insiders own 0.07% of the company’s stock.

Accenture Trading Down 2.7 %

ACN stock traded down $9.65 on Wednesday, hitting $353.39. The company’s stock had a trading volume of 765,130 shares, compared to its average volume of 2,712,683. The stock 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 plc has a 1 year low of $278.69 and a 1 year high of $387.51. The firm has a 50 day moving average of $351.54 and a two-hundred day moving average of $323.52.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.78 by $0.01. The business had revenue of $16.41 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Accenture had a net margin of 11.20% and a return on equity of 26.83%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.71 EPS. As a group, equities analysts forecast that Accenture plc will post 12.79 EPS for the current fiscal year.

Accenture announced that its Board of Directors has authorized a share 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 often an indication that the company’s leadership believes its shares are undervalued.

Accenture Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 10th will be paid a dividend of $1.48 per share. This is a boost from Accenture’s previous quarterly dividend of $1.29. This represents a $5.92 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Thursday, October 10th. Accenture’s dividend payout ratio (DPR) is currently 51.79%.

Analyst Ratings Changes

Several research analysts recently commented on ACN shares. Citigroup boosted their price objective on shares of Accenture from $350.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. BNP Paribas lowered shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target on the stock. in a research note on Wednesday. Piper Sandler upgraded shares of Accenture from a “neutral” rating to an “overweight” rating and upped their price target for the company from $329.00 to $395.00 in a research note on Thursday, September 26th. Piper Sandler Companies reiterated a “neutral” rating and issued a $329.00 price objective on shares of Accenture in a research note on Friday, September 20th. Finally, Bank of America increased their price target on shares of Accenture from $365.00 to $388.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $368.23.

About Accenture

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.