OMNI 360 Wealth Inc. Buys Shares of 605 Accenture plc (NYSE:ACN)

OMNI 360 Wealth Inc. purchased a new position in shares of Accenture plc (NYSE:ACN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 605 shares of the information technology services provider’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Annapolis Financial Services LLC increased 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 valued at $27,000 after acquiring an additional 66 shares during the last quarter. Cornerstone Wealth Group LLC raised its holdings in shares of Accenture by 12.7% during the first quarter. Cornerstone Wealth Group LLC now owns 1,891 shares of the information technology services provider’s stock worth $656,000 after purchasing an additional 213 shares during the period. Fiduciary Alliance LLC lifted its position in shares of Accenture by 3.9% in the 1st quarter. Fiduciary Alliance LLC now owns 1,200 shares of the information technology services provider’s stock worth $407,000 after buying an additional 45 shares during the last quarter. LVW Advisors LLC grew its position in shares of Accenture by 8.4% during the 1st quarter. LVW Advisors LLC now owns 1,137 shares of the information technology services provider’s stock valued at $394,000 after buying an additional 88 shares during the last quarter. Finally, Diversified Trust Co lifted its holdings in Accenture by 17.3% in the first quarter. Diversified Trust Co now owns 10,150 shares of the information technology services provider’s stock worth $3,518,000 after acquiring an additional 1,500 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Joel Unruch sold 4,750 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $369.97, for a total transaction of $1,757,357.50. Following the sale, the general counsel now owns 22,976 shares in the company, valued at $8,500,430.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Kathleen R. Mcclure sold 5,090 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $373.22, for a total transaction of $1,899,689.80. Following the completion of the sale, the chief financial officer now directly owns 38,825 shares in the company, valued at approximately $14,490,266.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Joel Unruch sold 4,750 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $369.97, for a total value of $1,757,357.50. Following the completion of the transaction, the general counsel now owns 22,976 shares in the company, valued at $8,500,430.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,971 shares of company stock worth $9,330,113 over the last ninety days. 0.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on ACN. BMO Capital Markets upped their target price on Accenture from $380.00 to $390.00 and gave the company a “market perform” rating in a report on Friday, September 27th. Piper Sandler Companies reaffirmed a “neutral” rating and issued a $329.00 target price on shares of Accenture in a research report on Friday, September 20th. StockNews.com downgraded shares of Accenture from a “buy” rating to a “hold” rating in a report on Thursday. UBS Group lifted their price objective on shares of Accenture from $400.00 to $415.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Accenture from $376.00 to $370.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 24th. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and an average target price of $371.18.

Accenture Trading Down 0.9 %

ACN stock traded down $3.43 on Friday, hitting $360.80. 2,129,390 shares of the company’s stock traded hands, compared to its average volume of 2,722,404. The stock has a market cap of $226.11 billion, a price-to-earnings ratio of 33.04, a P/E/G ratio of 3.47 and a beta of 1.25. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51. The stock has a fifty day moving average of $350.24 and a 200-day moving average of $322.94.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $2.79 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 the consensus estimate of $16.37 billion. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.71 EPS. On average, equities research analysts anticipate that Accenture plc will post 12.79 earnings per share for the current fiscal year.

Accenture announced that its Board of Directors has approved a stock 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Accenture Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 10th will be paid a dividend of $1.48 per share. 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. This represents a $5.92 dividend on an annualized basis and a yield of 1.64%. Accenture’s dividend payout ratio is currently 54.21%.

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.