Accenture plc (NYSE:ACN) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its stake in shares of Accenture plc (NYSE:ACN) by 2.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 77,123 shares of the information technology services provider’s stock after selling 2,164 shares during the period. Mutual of America Capital Management LLC’s holdings in Accenture were worth $27,261,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Masso Torrence Wealth Management Inc. grew its holdings in shares of Accenture by 2.0% during the 3rd quarter. Masso Torrence Wealth Management Inc. now owns 1,447 shares of the information technology services provider’s stock worth $511,000 after purchasing an additional 28 shares during the period. BSW Wealth Partners boosted its stake in Accenture by 0.7% during the third quarter. BSW Wealth Partners now owns 4,077 shares of the information technology services provider’s stock worth $1,441,000 after buying an additional 28 shares during the period. Slow Capital Inc. raised its stake in shares of Accenture by 0.3% in the 3rd quarter. Slow Capital Inc. now owns 9,067 shares of the information technology services provider’s stock valued at $3,205,000 after acquiring an additional 29 shares during the period. NBC Securities Inc. boosted its position in shares of Accenture by 0.6% during the 3rd quarter. NBC Securities Inc. now owns 5,206 shares of the information technology services provider’s stock worth $1,840,000 after purchasing an additional 30 shares during the period. Finally, Conscious Wealth Investments LLC lifted its stake in Accenture by 0.4% during the third quarter. Conscious Wealth Investments LLC now owns 7,744 shares of the information technology services provider’s stock worth $2,870,000 after purchasing an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling at Accenture

In other news, insider Angela Beatty sold 673 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $372.18, for a total value of $250,477.14. Following the transaction, the insider now owns 5,650 shares of the company’s stock, valued at approximately $2,102,817. The trade was a 10.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Julie Spellman Sweet sold 9,000 shares of Accenture stock in a transaction on 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 approximately $7,645,075.84. This trade represents a 30.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,298 shares of company stock worth $13,372,661. 0.07% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ACN. Mizuho lifted their price objective on Accenture from $352.00 to $365.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. BMO Capital Markets boosted their price target on shares of Accenture from $380.00 to $390.00 and gave the stock a “market perform” rating in a research note on Friday, September 27th. BNP Paribas cut shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective for the company. in a report on Wednesday, October 30th. Barclays increased their target price on shares of Accenture from $350.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, TD Cowen upgraded shares of Accenture from a “hold” rating to a “buy” rating and boosted their price target for the stock from $321.00 to $400.00 in a research note on Monday, September 30th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and an average price target of $368.23.

Accenture Trading Down 2.3 %

ACN stock opened at $353.57 on Friday. The company’s 50 day moving average is $355.55 and its two-hundred day moving average is $327.26. The stock has a market cap of $221.04 billion, a P/E ratio of 30.93, a PEG ratio of 3.24 and a beta of 1.25. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51.

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 for the quarter, compared to analysts’ expectations of $16.37 billion. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.71 earnings per share. On average, equities research analysts predict that Accenture plc will post 12.77 earnings per share for the current year.

Accenture announced that its Board of Directors 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 reacquire up to 1.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Accenture Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 10th were given a dividend of $1.48 per share. This is an increase from Accenture’s previous quarterly dividend of $1.29. This represents a $5.92 annualized dividend and a yield of 1.67%. The ex-dividend date was Thursday, October 10th. Accenture’s dividend payout ratio (DPR) is presently 51.79%.

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.