Accenture PLC $ACN Shares Purchased by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel increased its Accenture stake by 63.5% in the third quarter, purchasing 10,322 additional shares and bringing its holdings to 26,565 shares valued at approximately $4.87 million. Institutional investors collectively own 75.14% of the company.
• Accenture exceeded quarterly expectations, reporting $3.29 in adjusted EPS and $18.68 billion in revenue, with revenue up 6.2% year over year. The company also raised its quarterly dividend to $1.71 per share, implying a 2.8% yield.
• Analyst sentiment remains mixed, with 10 Buy, 15 Hold, and 2 Sell ratings; the consensus rating is Hold, with an average price target of $219.52. Accenture shares opened at $240.61, above the consensus target.

Carnegie Investment Counsel grew its position in Accenture PLC (NYSE:ACN - Free Report) by 63.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,565 shares of the information technology services provider's stock after buying an additional 10,322 shares during the quarter. Carnegie Investment Counsel's holdings in Accenture were worth $4,871,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Dogwood Wealth Management LLC boosted its position in shares of Accenture by 147.1% during 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. increased its stake in Accenture by 134.8% in the first 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 last quarter. Arlington Trust Co LLC raised its position 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 valued at $35,000 after purchasing an additional 149 shares in the last quarter. S&G Foundation acquired a new position in Accenture during the second quarter valued at approximately $37,000. Finally, Whipplewood Advisors LLC lifted its stake in Accenture by 57.9% during the first quarter. Whipplewood Advisors LLC now owns 210 shares of the information technology services provider's stock worth $42,000 after purchasing an additional 77 shares during the last quarter. Institutional investors own 75.14% of the company's stock.

Accenture Trading Up 0.6%

Shares of Accenture stock opened at $240.61 on Thursday. The firm's 50 day moving average is $192.96 and its 200 day moving average is $175.23. The firm has a market capitalization of $160.68 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 1.84 and a beta of 1.11. Accenture PLC has a 1 year low of $118.15 and a 1 year high of $291.09. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 0.31.

Accenture (NYSE:ACN - Get Free Report) last issued its quarterly earnings data on Thursday, October 1st. The information technology services provider reported $3.29 EPS for the quarter, beating the consensus estimate of $3.18 by $0.11. Accenture had a net margin of 11.28% and a return on equity of 26.53%. The business had revenue of $18.68 billion during the quarter, compared to the consensus estimate of $18.03 billion. During the same quarter in the prior year, the firm earned $3.03 EPS. The firm's 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. Equities 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 issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 2.8%. This is a boost from Accenture's previous quarterly dividend of $1.63. The ex-dividend date is Tuesday, October 13th. Accenture's dividend payout ratio (DPR) is currently 50.44%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ACN. Argus raised their target price on Accenture from $220.00 to $260.00 and gave the company a "buy" rating in a report on Friday, October 2nd. Jefferies Financial Group set a $220.00 price target on Accenture in a report on Friday, October 2nd. Evercore set a $250.00 price target on Accenture and gave the stock an "outperform" rating in a report on Thursday, October 1st. Deutsche Bank Aktiengesellschaft upped their price objective on Accenture from $136.00 to $175.00 and gave the stock a "hold" rating in a research report on Friday, September 18th. Finally, Morgan Stanley raised their price objective on Accenture from $175.00 to $195.00 and gave the company an "equal weight" rating in a research note on Friday, October 2nd. Ten investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $219.52.

Insiders Place Their Bets

In other news, General Counsel Joel Unruch sold 10,498 shares of the stock in a transaction on 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 completion of the transaction, the general counsel directly owned 17,735 shares in the company, valued at approximately $2,890,450.30. This represents a 37.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Catherine Hogan sold 1,320 shares of the firm's stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $200.00, for a total value of $264,000.00. Following the sale, the chief operating officer directly owned 12,556 shares in the company, valued at approximately $2,511,200. This trade represents a 9.51% 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. Insiders sold a total of 12,518 shares of company stock valued at $2,124,932 over the last quarter. 0.02% of the stock is owned by corporate insiders.

Accenture Company 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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