Boomfish Wealth Group LLC Sells 34 Shares of Accenture plc (NYSE:ACN)

Boomfish Wealth Group LLC reduced its holdings in shares of Accenture plc (NYSE:ACN) by 0.7% in the third quarter, HoldingsChannel reports. The fund owned 4,787 shares of the information technology services provider’s stock after selling 34 shares during the period. Boomfish Wealth Group LLC’s holdings in Accenture were worth $1,692,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Unique Wealth Strategies LLC bought a new position in shares of Accenture during the second quarter valued at $26,000. Annapolis Financial Services LLC lifted its stake in shares of Accenture by 507.7% in the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after buying an additional 66 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Accenture during the second quarter valued at approximately $28,000. Atwood & Palmer Inc. raised its holdings in Accenture by 214.8% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 58 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in Accenture in the 1st quarter valued at approximately $35,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Activity

In related news, General Counsel Joel Unruch sold 8,145 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the completion of the transaction, the general counsel now owns 22,849 shares in the company, valued at approximately $7,564,161.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel Joel Unruch sold 8,145 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the completion of the transaction, the general counsel now directly owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total value of $1,649,100.00. Following the completion of the sale, the insider now directly owns 8,989 shares in the company, valued at approximately $2,964,751.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.07% of the company’s stock.

Accenture Price Performance

Shares of NYSE ACN opened at $364.87 on Tuesday. The stock has a market cap of $228.66 billion, a PE ratio of 33.41, a price-to-earnings-growth ratio of 3.47 and a beta of 1.25. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51. The firm has a fifty day moving average price of $340.99 and a 200-day moving average price of $320.62.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, September 26th. The information technology services provider reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.78 by $0.01. The business had revenue of $16.41 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $2.71 earnings per share. On average, research analysts expect that Accenture plc will post 12.79 EPS for the current year.

Accenture declared that its Board of Directors has approved a share repurchase program on Thursday, September 26th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the information technology services provider to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Accenture Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 10th will be issued a dividend of $1.48 per share. This is a positive change from Accenture’s previous quarterly dividend of $1.29. This represents a $5.92 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Thursday, October 10th. Accenture’s dividend payout ratio (DPR) is 54.21%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Guggenheim boosted their price target on Accenture from $380.00 to $395.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Mizuho boosted their target price on Accenture from $352.00 to $365.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Susquehanna raised their price target on shares of Accenture from $350.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Morgan Stanley cut shares of Accenture from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $382.00 to $300.00 in a report on Wednesday, June 26th. Finally, Piper Sandler upgraded shares of Accenture from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $329.00 to $395.00 in a report on Thursday, September 26th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $371.18.

Accenture Profile

Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.