Accenture plc (NYSE:ACN) to Issue Dividend Increase – $1.12 Per Share

Accenture plc (NYSE:ACNGet Rating) declared a quarterly dividend on Thursday, September 22nd, RTT News reports. Investors of record on Thursday, October 13th will be paid a dividend of 1.12 per share by the information technology services provider on Tuesday, November 15th. This represents a $4.48 annualized dividend and a yield of 1.69%. This is a boost from Accenture’s previous quarterly dividend of $0.97.

Accenture has increased its dividend by an average of 9.9% per year over the last three years and has raised its dividend every year for the last 17 years. Accenture has a dividend payout ratio of 32.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Accenture to earn $11.84 per share next year, which means the company should continue to be able to cover its $3.88 annual dividend with an expected future payout ratio of 32.8%.

Accenture Trading Down 1.8 %

Shares of ACN opened at $265.42 on Thursday. The stock has a market cap of $167.89 billion, a P/E ratio of 25.74, a price-to-earnings-growth ratio of 2.28 and a beta of 1.22. The stock’s 50-day moving average price is $295.09 and its two-hundred day moving average price is $300.01. Accenture has a 1 year low of $261.77 and a 1 year high of $417.37.

Accenture (NYSE:ACNGet Rating) last issued its earnings results on Thursday, September 22nd. The information technology services provider reported $2.60 EPS for the quarter, beating the consensus estimate of $2.57 by $0.03. Accenture had a net margin of 11.13% and a return on equity of 31.50%. The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $15.41 billion. During the same quarter in the prior year, the firm earned $2.20 earnings per share. The business’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, equities analysts forecast that Accenture will post 10.69 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Joel Unruch sold 555 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $300.00, for a total value of $166,500.00. Following the completion of the sale, the general counsel now directly owns 25,601 shares in the company, valued at approximately $7,680,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Accenture news, CEO Julie Spellman Sweet sold 3,278 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $270.93, for a total value of $888,108.54. Following the completion of the transaction, the chief executive officer now directly owns 16,978 shares in the company, valued at approximately $4,599,849.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Joel Unruch sold 555 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $300.00, for a total value of $166,500.00. Following the transaction, the general counsel now owns 25,601 shares of the company’s stock, valued at approximately $7,680,300. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,389 shares of company stock worth $3,132,777. Company insiders own 0.07% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Clearbridge Investments LLC lifted its position in Accenture by 104.8% during the first quarter. Clearbridge Investments LLC now owns 441,451 shares of the information technology services provider’s stock valued at $148,871,000 after acquiring an additional 225,943 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in Accenture during the first quarter worth $28,157,000. Soros Fund Management LLC grew its holdings in Accenture by 129.3% in the first quarter. Soros Fund Management LLC now owns 115,808 shares of the information technology services provider’s stock valued at $39,054,000 after purchasing an additional 65,308 shares during the period. Ensign Peak Advisors Inc raised its holdings in shares of Accenture by 14.4% during the first quarter. Ensign Peak Advisors Inc now owns 293,488 shares of the information technology services provider’s stock valued at $98,973,000 after acquiring an additional 36,959 shares during the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of Accenture in the first quarter valued at about $10,196,000. Institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

ACN has been the topic of a number of research analyst reports. BMO Capital Markets dropped their price target on Accenture from $337.00 to $315.00 and set a “market perform” rating on the stock in a research report on Wednesday. Piper Sandler lowered their price objective on shares of Accenture from $305.00 to $281.00 and set a “neutral” rating for the company in a research report on Monday, July 18th. Exane BNP Paribas cut shares of Accenture from an “outperform” rating to a “neutral” rating in a research report on Wednesday, June 29th. Bank of America cut their target price on Accenture from $443.00 to $374.00 and set a “buy” rating on the stock in a research note on Friday, June 17th. Finally, Cowen reduced their price objective on shares of Accenture from $330.00 to $325.00 and set an “outperform” rating for the company in a research note on Friday, June 24th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $354.47.

About Accenture

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Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.

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Dividend History for Accenture (NYSE:ACN)

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