Accenture PLC $ACN Shares Newly Purchased by Diversified Management Inc.

Key Points

• Diversified Management purchased 16,244 Accenture shares worth approximately $2.98 million, while institutional investors and hedge funds collectively own 75.14% of the company.
• Analyst sentiment remains mixed: 11 analysts rate Accenture a Buy, 14 a Hold and two a Sell, producing an overall “Hold” rating and a consensus price target of $219.15.
• Accenture exceeded quarterly earnings and revenue expectations, raised its quarterly dividend to $1.71 per share, and maintains authorization for a $2 billion share-repurchase program.

Diversified Management Inc. purchased a new position in shares of Accenture PLC (NYSE:ACN - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 16,244 shares of the information technology services provider's stock, valued at approximately $2,979,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Dogwood Wealth Management LLC raised its stake in Accenture by 147.1% during the second 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 during the period. IMG Wealth Management Inc. raised its position in shares of Accenture by 134.8% during the 1st quarter. IMG Wealth Management Inc. now owns 155 shares of the information technology services provider's stock worth $31,000 after purchasing an additional 89 shares during the period. Arlington Trust Co LLC raised its position in shares of Accenture by 110.4% during the 2nd quarter. Arlington Trust Co LLC now owns 284 shares of the information technology services provider's stock worth $35,000 after purchasing an additional 149 shares during the period. S&G Foundation acquired a new position in Accenture during the 2nd quarter valued at approximately $37,000. Finally, Whipplewood Advisors LLC grew its stake in Accenture by 57.9% during the 1st quarter. Whipplewood Advisors LLC now owns 210 shares of the information technology services provider's stock worth $42,000 after buying an additional 77 shares during the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ACN. TD Cowen increased their price objective on shares of Accenture from $173.00 to $193.00 and gave the stock a "hold" rating in a report on Thursday, October 1st. Susquehanna boosted their target price on shares of Accenture from $153.00 to $210.00 and gave the company a "neutral" rating in a research note on Thursday, October 1st. Deutsche Bank Aktiengesellschaft raised their price target 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. William Blair cut shares of Accenture from an "outperform" rating to a "market perform" rating in a research note on Thursday, June 18th. Finally, Mizuho increased their price objective on shares of Accenture from $226.00 to $241.00 and gave the company an "outperform" rating in a report on Tuesday. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $219.15.

Insiders Place Their Bets

In related news, General Counsel Joel Unruch sold 10,498 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $162.98, for a total transaction of $1,710,964.04. Following the transaction, the general counsel owned 17,735 shares of the company's stock, valued at approximately $2,890,450.30. This trade represents a 37.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.02% of the company's stock.

Accenture Trading Up 6.1%

Shares of NYSE ACN opened at $208.73 on Friday. The business has a 50-day moving average price of $183.68 and a two-hundred day moving average price of $173.44. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $139.39 billion, a PE ratio of 15.39, a PEG ratio of 1.62 and a beta of 1.11. Accenture PLC has a one year low of $118.15 and a one year high of $291.09.

Accenture (NYSE:ACN - Get Free Report) last issued its earnings results on Thursday, October 1st. The information technology services provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.18 by $0.11. Accenture had a net margin of 11.28% and a return on equity of 26.53%. The company had revenue of $18.68 billion during the quarter, compared to analyst estimates of $18.03 billion. During the same quarter last year, the business posted $3.03 EPS. The company's revenue for the quarter was up 6.2% on a year-over-year basis. 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 earnings per share for the current fiscal year.

Accenture Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 13th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, October 13th. This is a positive change from Accenture's previous quarterly dividend of $1.63. Accenture's dividend payout ratio (DPR) is presently 48.08%.

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

Accenture Company Profile

Accenture plc NYSE: ACN is a global professional services company that helps organizations improve performance, modernize operations and respond to technological and market changes. Its services span strategy and consulting, technology, operations, and managed services, with expertise across industries including communications, financial services, health care, public service, retail, manufacturing and resources.

The company provides digital transformation, cloud migration, data and artificial intelligence, cybersecurity, systems integration and technology implementation services.

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