Inscription Capital LLC Raises Position in Accenture plc (NYSE:ACN)

Inscription Capital LLC lifted its stake in shares of Accenture plc (NYSE:ACN) by 3.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,794 shares of the information technology services provider’s stock after purchasing an additional 291 shares during the period. Inscription Capital LLC’s holdings in Accenture were worth $2,755,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. L. Roy Papp & Associates LLP grew its stake in Accenture by 0.6% in the 3rd quarter. L. Roy Papp & Associates LLP now owns 111,970 shares of the information technology services provider’s stock valued at $39,579,000 after buying an additional 707 shares in the last quarter. Motiv8 Investments LLC grew its stake in Accenture by 16.6% in the 3rd quarter. Motiv8 Investments LLC now owns 2,429 shares of the information technology services provider’s stock valued at $859,000 after buying an additional 345 shares in the last quarter. Conscious Wealth Investments LLC grew its stake in Accenture by 0.4% in the 3rd quarter. Conscious Wealth Investments LLC now owns 7,744 shares of the information technology services provider’s stock valued at $2,870,000 after buying an additional 31 shares in the last quarter. OMNI 360 Wealth Inc. purchased a new position in Accenture in the 3rd quarter valued at approximately $214,000. Finally, J.W. Cole Advisors Inc. grew its stake in Accenture by 41.6% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 12,216 shares of the information technology services provider’s stock valued at $4,318,000 after buying an additional 3,586 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Melissa A. Burgum sold 458 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $373.25, for a total transaction of $170,948.50. Following the completion of the transaction, the chief accounting officer now directly owns 9,777 shares of the company’s stock, valued at approximately $3,649,265.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Melissa A. Burgum sold 458 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $373.25, for a total transaction of $170,948.50. Following the completion of the transaction, the chief accounting officer now directly owns 9,777 shares of the company’s stock, valued at approximately $3,649,265.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Julie Spellman Sweet sold 9,000 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $376.16, for a total transaction of $3,385,440.00. Following the transaction, the chief executive officer now directly owns 20,324 shares of the company’s stock, valued at approximately $7,645,075.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,971 shares of company stock valued at $9,330,113 over the last three months. Insiders own 0.07% of the company’s stock.

Accenture Price Performance

Accenture stock traded up $3.97 during mid-day trading on Monday, hitting $364.77. The company’s stock had a trading volume of 191,571 shares, compared to its average volume of 2,710,236. The stock has a market cap of $228.60 billion, a price-to-earnings ratio of 33.04, a price-to-earnings-growth ratio of 3.47 and a beta of 1.25. The business has a 50 day moving average price of $350.24 and a 200-day moving average price of $322.93. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51.

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

Accenture declared that its Board of Directors has initiated a stock repurchase plan on Thursday, September 26th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Accenture Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 10th will be paid a $1.48 dividend. The ex-dividend date 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 1.62%. Accenture’s payout ratio is currently 54.21%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Piper Sandler Companies reiterated a “neutral” rating and issued a $329.00 price objective on shares of Accenture in a research note on Friday, September 20th. UBS Group lifted their price objective on shares of Accenture from $400.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. reduced their price target on shares of Accenture from $376.00 to $370.00 and set an “overweight” rating for the company in a research report on Tuesday, September 24th. Guggenheim boosted their price target on shares of Accenture from $380.00 to $395.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, BMO Capital Markets boosted their price target on shares of Accenture from $380.00 to $390.00 and gave the company a “market perform” rating in a research report on Friday, September 27th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Accenture has a consensus rating of “Moderate Buy” and an average target price of $371.18.

Accenture Company 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.