First American Bank Has $21.02 Million Stake in Accenture plc (NYSE:ACN)

First American Bank cut its holdings in Accenture plc (NYSE:ACN) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,451 shares of the information technology services provider’s stock after selling 1,502 shares during the period. Accenture makes up approximately 1.5% of First American Bank’s portfolio, making the stock its 16th biggest position. First American Bank’s holdings in Accenture were worth $21,015,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Unique Wealth Strategies LLC bought a new stake in Accenture in the second quarter valued at $26,000. Strategic Financial Concepts LLC bought a new stake in Accenture in the 2nd quarter valued at about $28,000. CarsonAllaria Wealth Management Ltd. acquired a new position in Accenture during the 1st quarter worth approximately $35,000. Mowery & Schoenfeld Wealth Management LLC boosted its holdings in Accenture by 607.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 85 shares in the last quarter. Finally, Creekmur Asset Management LLC grew its stake in Accenture by 108.0% in the first quarter. Creekmur Asset Management LLC now owns 104 shares of the information technology services provider’s stock valued at $36,000 after acquiring an additional 54 shares during the period. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Price Performance

NYSE:ACN opened at $360.80 on Monday. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51. The business has a fifty day simple moving average of $350.24 and a two-hundred day simple moving average of $322.93. The company has a market capitalization of $226.11 billion, a P/E ratio of 33.04, a P/E/G ratio of 3.47 and a beta of 1.25.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share (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 firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.71 EPS. As a group, analysts anticipate that Accenture plc will post 12.79 earnings per share for the current year.

Accenture Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 10th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This is an increase from Accenture’s previous quarterly dividend of $1.29. This represents a $5.92 annualized dividend and a yield of 1.64%. Accenture’s dividend payout ratio (DPR) is 54.21%.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Royal Bank of Canada increased their target price on Accenture from $377.00 to $389.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Bank of America raised their price objective on shares of Accenture from $365.00 to $388.00 and gave the company a “buy” rating in a research note on Friday, September 27th. BMO Capital Markets upped their target price on shares of Accenture from $380.00 to $390.00 and gave the stock a “market perform” rating in a report on Friday, September 27th. UBS Group lifted their price target on Accenture from $400.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Citigroup increased their price objective on Accenture from $350.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and a consensus target price of $371.18.

Insider Buying and Selling at Accenture

In other news, CFO Kathleen R. Mcclure sold 5,090 shares of Accenture stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $373.22, for a total value of $1,899,689.80. Following the completion of the transaction, the chief financial officer now directly owns 38,825 shares in the company, valued at approximately $14,490,266.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Kathleen R. Mcclure sold 5,090 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $373.22, for a total transaction of $1,899,689.80. Following the completion of the transaction, the chief financial officer now owns 38,825 shares of the company’s stock, valued at approximately $14,490,266.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Joel Unruch sold 4,750 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $369.97, for a total transaction of $1,757,357.50. Following the completion of the sale, the general counsel now owns 22,976 shares in the company, valued at $8,500,430.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,971 shares of company stock valued at $9,330,113 in the last 90 days. 0.07% of the stock is currently owned by company insiders.

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.