Accenture PLC $ACN Stock Bought by Wealth Enhancement Trust Services Inc.

Key Points

• Wealth Enhancement Trust Services increased its Accenture stake by 352.1% in the third quarter, bringing its holdings to 7,627 shares valued at approximately $1.4 million. Institutional investors collectively own 75.14% of Accenture.
• Accenture exceeded quarterly expectations, reporting adjusted earnings of $3.29 per share and revenue of $18.68 billion, with revenue up 6.2% year over year. The company also authorized a $2 billion share repurchase program.
• Accenture raised its quarterly dividend to $1.71, equivalent to an annualized $6.84 payout and a 3.5% yield. Analysts maintain a consensus “Hold” rating, with an average price target of $219.15.

Wealth Enhancement Trust Services Inc. raised its holdings in shares of Accenture PLC (NYSE:ACN - Free Report) by 352.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,627 shares of the information technology services provider's stock after purchasing an additional 5,940 shares during the period. Wealth Enhancement Trust Services Inc.'s holdings in Accenture were worth $1,399,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Flossbach Von Storch SE bought a new position in shares of Accenture during the second quarter valued at $309,873,000. First Trust Advisors LP increased its holdings in Accenture by 120.0% in the 1st quarter. First Trust Advisors LP now owns 3,482,150 shares of the information technology services provider's stock worth $690,475,000 after buying an additional 1,899,305 shares in the last quarter. Pzena Investment Management LLC raised its position in Accenture by 84.0% in the 1st quarter. Pzena Investment Management LLC now owns 2,405,683 shares of the information technology services provider's stock worth $477,023,000 after buying an additional 1,097,961 shares during the last quarter. Ruane Cunniff & Goldfarb L.P. purchased a new position in Accenture in the 4th quarter worth about $253,120,000. Finally, Davis Asset Management L.P. bought a new position in Accenture during the 2nd quarter valued at about $92,086,000. Institutional investors own 75.14% of the company's stock.

Accenture Price Performance

NYSE ACN opened at $196.67 on Thursday. 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 PLC has a 12 month low of $118.15 and a 12 month high of $291.09. The stock has a market cap of $131.34 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 1.59 and a beta of 1.11. The company's 50 day moving average is $182.78 and its two-hundred day moving average is $173.38.

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

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

Accenture Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 13th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $6.84 annualized dividend and a yield of 3.5%. This is an increase from Accenture's previous quarterly dividend of $1.63. Accenture's payout ratio is currently 48.08%.

Insider Transactions at Accenture

In other Accenture news, General Counsel Joel Unruch sold 10,498 shares of the firm's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $162.98, for a total transaction of $1,710,964.04. Following the sale, the general counsel directly owned 17,735 shares of the company's stock, valued at $2,890,450.30. This trade represents a 37.18% decrease in their ownership of the stock. The transaction 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.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Berenberg Bank reduced their price target on shares of Accenture from $273.00 to $220.00 and set a "buy" rating for the company in a research note on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Accenture from $136.00 to $175.00 and gave the company a "hold" rating in a research report on Friday, September 18th. Royal Bank Of Canada lifted their target price on shares of Accenture from $175.00 to $240.00 and gave the stock an "outperform" rating in a research report on Friday, October 2nd. Argus boosted their target price on shares of Accenture from $220.00 to $260.00 and gave the company a "buy" rating in a research note on Friday, October 2nd. Finally, BMO Capital Markets set a $235.00 price target on Accenture in a research note on Friday, October 2nd. Eleven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $219.15.

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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