Accenture PLC $ACN Shares Newly Acquired by Sawyer & Company Inc

Key Points

• Sawyer & Company acquired 14,908 Accenture shares worth approximately $2.7 million in the third quarter. Institutional investors collectively own 75.14% of the company.
• Accenture recently reported quarterly results above expectations, with $3.29 in earnings per share and $18.68 billion in revenue, up 6.2% year over year.
• The company authorized a $2 billion share-repurchase program and increased its quarterly dividend to $1.71 per share, while analysts maintain a consensus “Hold” rating with a $219.52 price target.

Sawyer & Company Inc bought a new stake in shares of Accenture PLC (NYSE:ACN - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 14,908 shares of the information technology services provider's stock, valued at approximately $2,734,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ACN. Regent Peak Wealth Advisors LLC increased its position in Accenture by 10.4% during the second quarter. Regent Peak Wealth Advisors LLC now owns 74,187 shares of the information technology services provider's stock worth $9,232,000 after buying an additional 7,018 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its position in shares of Accenture by 72.4% in the second quarter. Dynamic Advisor Solutions LLC now owns 19,455 shares of the information technology services provider's stock valued at $2,421,000 after acquiring an additional 8,169 shares in the last quarter. Dearborn Partners LLC purchased a new stake in shares of Accenture in the second quarter valued at $25,108,000. Bright Rock Capital Management LLC acquired a new stake in shares of Accenture during the second quarter valued at $7,466,000. Finally, Foster & Motley Inc. acquired a new stake in shares of Accenture during the second quarter valued at $2,628,000. Institutional investors and hedge funds own 75.14% of the company's stock.

Accenture Trading Down 0.4%

NYSE:ACN traded down $0.91 during trading hours on Wednesday, reaching $238.21. 2,687,000 shares of the company were exchanged, compared to its average volume of 6,982,249. The firm has a market cap of $159.08 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 1.95 and a beta of 1.11. The stock has a 50 day simple moving average of $191.75 and a 200 day simple moving average of $174.95. Accenture PLC has a 52-week low of $118.15 and a 52-week high of $291.09. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.34.

Accenture (NYSE:ACN - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $18.68 billion during the quarter, compared to the consensus estimate of $18.03 billion. Accenture had a return on equity of 26.53% and a net margin of 11.28%. The business's revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.03 EPS. Accenture has set its FY 2027 guidance at 14.390-14.810 EPS. As a group, analysts predict that Accenture PLC will post 14.68 EPS for the current year.

Accenture announced that its board has initiated a stock repurchase program on Tuesday, June 23rd that allows the company to repurchase $2.00 billion in shares. This buyback authorization allows the information technology services provider to buy up to 2.4% of its shares through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its shares are undervalued.

Accenture Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 13th will be paid a dividend of $1.71 per share. This is a boost from Accenture's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 2.9%. The ex-dividend date is Tuesday, October 13th. Accenture's payout ratio is currently 50.44%.

Insider Transactions at Accenture

In other news, COO Catherine Hogan sold 1,320 shares of Accenture stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $200.00, for a total value of $264,000.00. Following the transaction, the chief operating officer directly owned 12,556 shares of the company's stock, valued at $2,511,200. The trade was a 9.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Joel Unruch sold 10,498 shares of the business's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $162.98, for a total value of $1,710,964.04. Following the sale, the general counsel owned 17,735 shares of the company's stock, valued at $2,890,450.30. The trade was a 37.18% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 12,518 shares of company stock worth $2,124,932. Company insiders own 0.02% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Robert W. Baird reiterated a "neutral" rating and set a $252.00 price objective (up from $245.00) on shares of Accenture in a research report on Wednesday. Dbs Bank lowered shares of Accenture from a "moderate buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Evercore set a $250.00 price target on shares of Accenture and gave the stock an "outperform" rating in a research note on Thursday, October 1st. Wells Fargo & Company reaffirmed a "reduce" rating on shares of Accenture in a research note on Friday, October 2nd. Finally, Royal Bank Of Canada lifted their price target on shares of Accenture from $175.00 to $240.00 and gave the stock an "outperform" rating in a report on Friday, October 2nd. Ten research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $219.52.

Accenture Profile

Accenture plc is a global professional services company that helps organizations transform their businesses through consulting, technology and managed services. Its work spans strategy and consulting, technology implementation, operations, and interactive customer experiences.

The company provides services in areas including cloud computing, artificial intelligence, cybersecurity, data and analytics, digital engineering, enterprise software, systems integration and business process outsourcing.

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