Boomfish Wealth Group LLC Sells 34 Shares of Accenture plc (NYSE:ACN)

Boomfish Wealth Group LLC reduced its holdings in shares of Accenture plc (NYSE:ACN) by 0.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,787 shares of the information technology services provider’s stock after selling 34 shares during the quarter. Boomfish Wealth Group LLC’s holdings in Accenture were worth $1,692,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Annapolis Financial Services LLC boosted its holdings in shares of Accenture by 507.7% in the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after buying an additional 66 shares during the last quarter. Atwood & Palmer Inc. raised its holdings in shares of Accenture by 214.8% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 58 shares during the period. Unique Wealth Strategies LLC bought a new position in Accenture during the second quarter valued at $26,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in Accenture in the first quarter worth $35,000. Finally, Tsfg LLC lifted its position in shares of Accenture by 267.9% during the 1st quarter. Tsfg LLC now owns 103 shares of the information technology services provider’s stock valued at $36,000 after buying an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Susquehanna increased their target price on shares of Accenture from $350.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Morgan Stanley downgraded Accenture from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $382.00 to $300.00 in a research report on Wednesday, June 26th. Robert W. Baird boosted their price objective on Accenture from $350.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Mizuho lifted their target price on Accenture from $352.00 to $365.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Finally, Citigroup raised their price objective on shares of Accenture from $350.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $371.18.

Accenture Price Performance

Shares of ACN opened at $364.87 on Tuesday. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51. The stock has a 50 day simple moving average of $340.99 and a two-hundred day simple moving average of $320.62. The firm has a market cap of $228.66 billion, a P/E ratio of 33.41, 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 company had revenue of $16.41 billion during the quarter, compared to analysts’ expectations 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 prior year, the company earned $2.71 EPS. On average, equities analysts anticipate that Accenture plc will post 12.79 earnings per share for the current year.

Accenture Increases Dividend

The business also recently announced 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 represents a $5.92 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, October 10th. This is a positive change from Accenture’s previous quarterly dividend of $1.29. Accenture’s payout ratio is 54.21%.

Accenture declared that its board has approved a share buyback plan 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 buy up to 1.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Accenture

In related news, General Counsel Joel Unruch sold 8,145 shares of the company’s stock in a transaction 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 in the company, valued at $7,564,161.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Accenture news, General Counsel Joel Unruch sold 8,145 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the completion of the transaction, the general counsel now owns 22,849 shares of the company’s stock, valued at $7,564,161.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total value of $1,649,100.00. Following the transaction, the insider now directly owns 8,989 shares in the company, valued at $2,964,751.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.