Pinnacle Bancorp Inc. Has $1.14 Million Holdings in Accenture plc (NYSE:ACN)

Pinnacle Bancorp Inc. cut its holdings in shares of Accenture plc (NYSE:ACN) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,237 shares of the information technology services provider’s stock after selling 34 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Accenture were worth $1,144,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Unique Wealth Strategies LLC acquired a new stake in Accenture during the 2nd quarter valued at $26,000. Annapolis Financial Services LLC grew its position 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 valued at $27,000 after purchasing an additional 66 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Accenture during the second quarter worth approximately $28,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Accenture during the 4th quarter worth approximately $29,000. Finally, Atwood & Palmer Inc. grew 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 valued at $29,000 after buying an additional 58 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling

In related news, CFO Kathleen R. Mcclure sold 1,500 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $315.00, for a total value of $472,500.00. Following the transaction, the chief financial officer now directly owns 38,570 shares of the company’s stock, valued at approximately $12,149,550. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Accenture news, General Counsel Joel Unruch sold 8,145 shares of the stock in a transaction that occurred 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 sale, the general counsel now directly owns 22,849 shares of the company’s stock, valued at $7,564,161.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kathleen R. Mcclure sold 1,500 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $315.00, for a total transaction of $472,500.00. Following the transaction, the chief financial officer now owns 38,570 shares of the company’s stock, valued at approximately $12,149,550. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,645 shares of company stock worth $4,818,002. 0.07% of the stock is owned by insiders.

Accenture Trading Down 1.1 %

Shares of Accenture stock opened at $361.07 on Friday. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51. The company has a market cap of $226.28 billion, a P/E ratio of 33.07, a PEG ratio of 3.69 and a beta of 1.25. The company’s fifty day simple moving average is $338.56 and its two-hundred day simple moving average is $320.27.

Accenture (NYSE:ACN) last issued its quarterly earnings results 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 company had revenue of $16.41 billion during the quarter, compared to analysts’ expectations of $16.37 billion. Accenture had a net margin of 10.79% and a return on equity of 27.48%. Accenture’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the company posted $2.71 EPS. Analysts predict that Accenture plc will post 11.95 EPS for the current fiscal year.

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

Accenture Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 10th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.64%. This is a boost from Accenture’s previous quarterly dividend of $1.29. The ex-dividend date is Thursday, October 10th. Accenture’s payout ratio is presently 54.21%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ACN. Bank of America upped their price target 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. TD Cowen upgraded Accenture from a “hold” rating to a “buy” rating and upped their target price for the company from $321.00 to $400.00 in a research report on Monday, September 30th. Robert W. Baird upped their price objective on shares of Accenture from $350.00 to $370.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Piper Sandler Companies reissued a “neutral” rating and issued a $329.00 target price on shares of Accenture in a report on Friday, September 20th. Finally, UBS Group increased their price target on shares of Accenture from $400.00 to $415.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.