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

Lindbrook Capital LLC grew its stake in Accenture plc (NYSE:ACN) by 16.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 quarter.

A number of other large investors have also recently modified their holdings of ACN. Unique Wealth Strategies LLC bought a new stake in Accenture during the 2nd quarter valued at approximately $26,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in shares of Accenture by 607.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 85 shares in the last quarter. CarsonAllaria Wealth Management Ltd. purchased a new stake in Accenture in the first quarter worth $35,000. Creekmur Asset Management LLC raised its holdings 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 worth $36,000 after purchasing an additional 54 shares in the last quarter. Finally, Chilton Capital Management LLC lifted its position in Accenture by 57.1% during the first quarter. Chilton Capital Management LLC now owns 110 shares of the information technology services provider’s stock valued at $38,000 after buying an additional 40 shares during the period. Institutional investors own 75.14% of the company’s stock.

Accenture Stock Down 1.4 %

Shares of ACN stock opened at $355.51 on Friday. The company has a 50 day moving average price of $353.64 and a 200-day moving average price of $325.32. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51. The firm has a market capitalization 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 posted its earnings results on Thursday, September 26th. The information technology services provider reported $2.79 EPS for the quarter, topping analysts’ consensus estimates 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 was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.71 EPS. Analysts anticipate that Accenture plc will post 12.77 earnings per share for the current year.

Accenture Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 10th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.67%. This is a boost from Accenture’s previous quarterly dividend of $1.29. The ex-dividend date is Thursday, October 10th. Accenture’s dividend payout ratio (DPR) is presently 51.79%.

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

Analysts Set New Price Targets

ACN has been the subject of several research reports. Guggenheim increased their price target on shares of Accenture from $380.00 to $395.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. BNP Paribas downgraded shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their target price on shares of Accenture from $377.00 to $389.00 and gave the company an “outperform” rating in a report on Friday, September 27th. UBS Group upped their price target on Accenture from $400.00 to $415.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, BMO Capital Markets lifted 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 equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Accenture has an average rating of “Moderate Buy” and an average target price of $368.23.

Insider Buying and Selling at Accenture

In related news, CEO Ryoji Sekido sold 3,191 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $343.70, for a total value of $1,096,746.70. Following the transaction, the chief executive officer now owns 6 shares of the company’s stock, valued at approximately $2,062.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Ryoji Sekido sold 3,191 shares of Accenture stock in a transaction on Monday, November 4th. The stock was sold at an average price of $343.70, for a total transaction of $1,096,746.70. Following the transaction, the chief executive officer now directly owns 6 shares in the company, valued at approximately $2,062.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Melissa A. Burgum sold 458 shares of the company’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $373.25, for a total value of $170,948.50. Following the completion of the sale, the chief accounting officer now owns 9,777 shares of the company’s stock, valued at approximately $3,649,265.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,298 shares of company stock worth $13,372,661 in the last three months. 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.