Alpha Paradigm Partners LLC Boosts Stock Holdings in Accenture plc (NYSE:ACN)

Alpha Paradigm Partners LLC increased its stake in Accenture plc (NYSE:ACN) by 131.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 887 shares of the information technology services provider’s stock after buying an additional 503 shares during the quarter. Alpha Paradigm Partners LLC’s holdings in Accenture were worth $261,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Moisand Fitzgerald Tamayo LLC purchased a new position in shares of Accenture in the 2nd quarter worth about $25,000. Solstein Capital LLC purchased a new position in shares of Accenture in the 1st quarter worth about $29,000. Hanson & Doremus Investment Management boosted its holdings in shares of Accenture by 750.0% in the 2nd quarter. Hanson & Doremus Investment Management now owns 136 shares of the information technology services provider’s stock worth $31,000 after buying an additional 120 shares during the last quarter. Trustcore Financial Services LLC boosted its holdings in shares of Accenture by 456.0% in the 2nd quarter. Trustcore Financial Services LLC now owns 139 shares of the information technology services provider’s stock worth $41,000 after buying an additional 114 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC purchased a new position in shares of Accenture in the 2nd quarter worth about $44,000. 73.20% of the stock is currently owned by institutional investors.

ACN has been the topic of a number of research reports. Stifel Nicolaus boosted their price objective on Accenture from $342.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, September 23rd. Morgan Stanley boosted their price objective on Accenture from $380.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, September 24th. Royal Bank of Canada boosted their price objective on Accenture from $301.00 to $322.00 and gave the company an “outperform” rating in a research note on Friday, June 25th. Piper Sandler boosted their price objective on Accenture from $302.00 to $354.00 and gave the company a “neutral” rating in a research note on Friday, September 24th. Finally, JPMorgan Chase & Co. boosted their price objective on Accenture from $308.00 to $364.00 and gave the company an “overweight” rating in a research note on Tuesday, August 17th. Five investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $352.42.

In other news, COO Johan Deblaere sold 3,000 shares of the stock in a transaction that occurred on Friday, July 16th. The stock was sold at an average price of $314.21, for a total transaction of $942,630.00. Following the completion of the sale, the chief operating officer now owns 48,672 shares of the company’s stock, valued at $15,293,229.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jean-Marc Ollagnier sold 5,233 shares of the stock in a transaction that occurred on Friday, July 16th. The shares were sold at an average price of $314.20, for a total value of $1,644,208.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,495 shares of company stock valued at $5,215,175. 0.07% of the stock is owned by insiders.

Shares of NYSE ACN opened at $330.18 on Thursday. Accenture plc has a 12 month low of $212.45 and a 12 month high of $345.52. The firm has a market capitalization of $209.55 billion, a price-to-earnings ratio of 36.93, a PEG ratio of 3.48 and a beta of 1.11. The business has a 50-day moving average of $331.50 and a 200-day moving average of $306.52.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Wednesday, September 22nd. The information technology services provider reported $2.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.19 by $0.01. Accenture had a return on equity of 28.94% and a net margin of 12.06%. The company had revenue of $13.42 billion during the quarter, compared to analyst estimates of $13.42 billion. During the same quarter in the previous year, the firm earned $1.70 earnings per share. Accenture’s revenue was up 23.8% on a year-over-year basis. As a group, analysts anticipate that Accenture plc will post 8.79 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 15th. Shareholders of record on Thursday, October 14th will be paid a $0.97 dividend. The ex-dividend date is Wednesday, October 13th. This represents a $3.88 annualized dividend and a yield of 1.18%. This is a positive change from Accenture’s previous quarterly dividend of $0.88. Accenture’s dividend payout ratio is currently 47.18%.

Accenture announced that its board has authorized a share repurchase plan on Thursday, September 23rd that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Accenture Company Profile

Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following segments: Communications, Media, and Technology; Financial Services; Health and Public Service; Products; Resources; and Other. The Communications, Media, and Technology segment serves communications, media, high-tech, and software and platform companies through acceleration and delivery of digital transformation, development of comprehensive and industry-specific solutions, and enhance efficiency and business results.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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