Accenture PLC $ACN Position Lifted by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services increased its Accenture stake by 6.0% in the third quarter, adding 7,351 shares to bring its holdings to 130,409 shares, valued at about $23.9 million. Institutional investors collectively own 75.14% of the company.
• Accenture beat quarterly earnings and revenue expectations, reporting EPS of $3.29 and revenue of $18.68 billion; revenue rose 6.2% year over year. The company also raised its quarterly dividend from $1.63 to $1.71 per share.
• Company insiders sold 18,675 shares worth about $4.75 million over the past three months. Analysts’ consensus rating was “Hold,” with an average price target of $221.07.

Commonwealth Equity Services LLC lifted its position in shares of Accenture PLC (NYSE:ACN - Free Report) by 6.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 130,409 shares of the information technology services provider's stock after purchasing an additional 7,351 shares during the quarter. Commonwealth Equity Services LLC's holdings in Accenture were worth $23,913,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ACN. Dogwood Wealth Management LLC increased its stake in shares of Accenture by 147.1% in the 2nd quarter. Dogwood Wealth Management LLC now owns 215 shares of the information technology services provider's stock worth $27,000 after acquiring an additional 128 shares in the last quarter. IMG Wealth Management Inc. lifted its position in Accenture by 134.8% during the 1st quarter. IMG Wealth Management Inc. now owns 155 shares of the information technology services provider's stock valued at $31,000 after acquiring an additional 89 shares during the period. Foresight Capital Management Advisors Inc. bought a new stake in Accenture during the third quarter worth about $31,000. Signature Equity Partners LLC boosted its stake in Accenture by 50.9% during the third quarter. Signature Equity Partners LLC now owns 172 shares of the information technology services provider's stock worth $32,000 after acquiring an additional 58 shares in the last quarter. Finally, Arlington Trust Co LLC boosted its stake in Accenture by 110.4% during the second quarter. Arlington Trust Co LLC now owns 284 shares of the information technology services provider's stock worth $35,000 after acquiring an additional 149 shares in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Stock Performance

ACN stock opened at $254.34 on Tuesday. The stock has a market capitalization of $150.33 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 2.03 and a beta of 1.01. Accenture PLC has a 12-month low of $118.15 and a 12-month high of $291.09. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31. The stock's 50 day simple moving average is $211.64 and its 200 day simple moving average is $191.77.

Accenture (NYSE:ACN - Get Free Report) last posted its earnings results on Thursday, October 1st. The information technology services provider reported $3.29 EPS for the quarter, topping analysts' consensus estimates of $3.18 by $0.11. Accenture had a return on equity of 26.53% and a net margin of 11.28%. The business had revenue of $18.68 billion during the quarter, compared to analyst estimates of $18.03 billion. During the same quarter last year, the company earned $3.03 EPS. The company's quarterly revenue was up 6.2% compared to the same quarter last year. Accenture has set its FY 2027 guidance at 14.390-14.810 EPS. As a group, research analysts forecast that Accenture PLC will post 14.68 earnings per share for the current fiscal year.

Accenture Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 13th will be paid a $1.71 dividend. This is a boost from Accenture's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Tuesday, October 13th. Accenture's dividend payout ratio (DPR) is presently 50.44%.

Insider Activity

In other Accenture news, CEO Ryoji Sekido sold 5,844 shares of Accenture stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $244.84, for a total value of $1,430,844.96. Following the completion of the sale, the chief executive officer owned 1,194 shares of the company's stock, valued at approximately $292,338.96. The trade was a 83.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Atsushi Egawa sold 10,000 shares of the business's stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $270.00, for a total transaction of $2,700,000.00. Following the sale, the chief executive officer owned 5,996 shares of the company's stock, valued at approximately $1,618,920. This represents a 62.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,675 shares of company stock valued at $4,747,563 over the last three months. Corporate insiders own 0.02% of the company's stock.

Wall Street Analysts Forecast Growth

ACN has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of Accenture from $136.00 to $175.00 and gave the company a "hold" rating in a research note on Friday, September 18th. Susquehanna boosted their price target on Accenture from $210.00 to $230.00 and gave the stock a "neutral" rating in a research report on Thursday, October 15th. Wells Fargo & Company raised their price objective on Accenture from $210.00 to $252.00 and gave the company an "equal weight" rating in a research report on Monday, October 26th. Jefferies Financial Group set a $220.00 price objective on Accenture in a research note on Friday, October 2nd. Finally, Guggenheim reiterated a "neutral" rating on shares of Accenture in a research note on Friday, October 2nd. Ten equities research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $221.07.

Accenture Profile

Accenture plc is a global professional services company that helps businesses, governments and other organizations solve operational and technology challenges. Its work includes strategy and management consulting, digital transformation, systems integration and the design, implementation and management of technology solutions.

The company serves clients across a broad range of industries and geographies. Its services span cloud computing, data and artificial intelligence, cybersecurity, software and platforms, business process operations, and digital marketing and customer experience.

Accenture traces its roots to the consulting business of accounting firm Arthur Andersen.

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