Lindbrook Capital LLC Acquires 492 Shares of Accenture plc (NYSE:ACN)

Lindbrook Capital LLC grew its holdings in shares of Accenture plc (NYSE:ACN) by 16.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,412 shares of the information technology services provider’s stock after purchasing an additional 492 shares during the quarter. Lindbrook Capital LLC’s holdings in Accenture were worth $1,206,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. purchased a new position in Accenture in the first quarter valued at about $35,000. 49 Wealth Management LLC purchased a new position in Accenture in the first quarter valued at approximately $266,000. TCI Wealth Advisors Inc. purchased a new stake in Accenture in the first quarter worth $221,000. Montag A & Associates Inc. raised its stake in shares of Accenture by 104.2% in the first quarter. Montag A & Associates Inc. now owns 20,234 shares of the information technology services provider’s stock valued at $7,013,000 after buying an additional 10,326 shares during the period. Finally, Reynders McVeigh Capital Management LLC grew its stake in shares of Accenture by 2.2% during the 1st quarter. Reynders McVeigh Capital Management LLC now owns 2,168 shares of the information technology services provider’s stock worth $752,000 after acquiring an additional 46 shares during the period. 75.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ACN has been the topic of several recent research reports. Mizuho upped their price objective on shares of Accenture from $352.00 to $365.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Piper Sandler Companies restated a “neutral” rating and set a $329.00 price target on shares of Accenture in a research note on Friday, September 20th. Barclays lifted their price objective on shares of Accenture from $350.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Citigroup raised their price target on Accenture from $350.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Finally, BMO Capital Markets boosted their price objective on Accenture from $380.00 to $390.00 and gave the company a “market perform” rating in a research note on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $368.23.

Accenture Stock Down 1.4 %

ACN opened at $355.51 on Friday. The business’s fifty day simple moving average is $353.64 and its 200 day simple moving average is $325.32. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51. The stock has a market cap of $222.25 billion, a PE ratio of 31.10, a P/E/G ratio of 3.01 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 EPS for the quarter, beating the consensus estimate of $2.78 by $0.01. The firm had revenue of $16.41 billion for the quarter, compared to analyst estimates of $16.37 billion. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.71 EPS. As a group, equities analysts anticipate that Accenture plc will post 12.77 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. Stockholders of record on Thursday, October 10th will be paid a $1.48 dividend. This is a boost from Accenture’s previous quarterly dividend of $1.29. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.67%. Accenture’s dividend payout ratio is 51.79%.

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

Insider Activity at Accenture

In other Accenture news, 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 completion of the sale, the chief executive officer now directly owns 20,324 shares in the company, valued at $7,645,075.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Accenture news, CFO Kathleen R. Mcclure sold 5,090 shares of the stock in a transaction 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 sale, the chief financial officer now owns 38,825 shares of the company’s stock, valued at $14,490,266.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Julie Spellman Sweet sold 9,000 shares of the business’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 completion of the transaction, the chief executive officer now owns 20,324 shares in the company, valued at $7,645,075.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,298 shares of company stock valued at $13,372,661. Insiders own 0.07% of the company’s stock.

About Accenture

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.