Cordatus Wealth Management LLC Has $3.47 Million Stake in Accenture plc (NYSE:ACN)

Cordatus Wealth Management LLC lifted its stake in shares of Accenture plc (NYSE:ACN) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,824 shares of the information technology services provider’s stock after buying an additional 68 shares during the quarter. Accenture comprises approximately 1.2% of Cordatus Wealth Management LLC’s investment portfolio, making the stock its 23rd largest holding. Cordatus Wealth Management LLC’s holdings in Accenture were worth $3,472,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Unique Wealth Strategies LLC purchased a new position in Accenture during the second quarter worth about $26,000. Strategic Financial Concepts LLC purchased a new stake in Accenture in the second quarter worth about $28,000. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Accenture during the first quarter valued at $35,000. Mowery & Schoenfeld Wealth Management LLC boosted its holdings in shares of Accenture by 607.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after buying an additional 85 shares during the last quarter. Finally, Creekmur Asset Management LLC increased its stake in Accenture by 108.0% in the 1st quarter. Creekmur Asset Management LLC now owns 104 shares of the information technology services provider’s stock worth $36,000 after buying an additional 54 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Angela Beatty sold 673 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $372.18, for a total transaction of $250,477.14. Following the completion of the sale, the insider now owns 5,650 shares in the company, valued at approximately $2,102,817. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Julie Spellman Sweet sold 8,136 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $362.07, for a total value of $2,945,801.52. Following the transaction, the chief executive officer now owns 12,188 shares of the company’s stock, valued at approximately $4,412,909.16. The trade was a 0.00 % 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, insider Angela Beatty sold 673 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $372.18, for a total value of $250,477.14. Following the completion of the sale, the insider now owns 5,650 shares in the company, valued at $2,102,817. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,107 shares of company stock worth $12,275,914 over the last three months. 0.07% of the stock is owned by insiders.

Accenture Trading Up 0.0 %

Accenture stock traded up $0.14 during trading on Thursday, hitting $346.71. 931,586 shares of the company were exchanged, compared to its average volume of 2,718,756. The business’s 50 day moving average is $351.80 and its 200 day moving average is $323.68. The company has a market capitalization of $216.75 billion, a P/E ratio of 30.32, a PEG ratio of 3.47 and a beta of 1.25. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51.

Accenture (NYSE:ACN) last released its earnings results on Thursday, September 26th. The information technology services provider reported $2.79 EPS for the quarter, beating the consensus estimate of $2.78 by $0.01. Accenture had a net margin of 11.20% and a return on equity of 26.83%. The company had revenue of $16.41 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same quarter last year, the firm earned $2.71 EPS. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts expect that Accenture plc will post 12.79 EPS for the current year.

Accenture announced that its Board of Directors has authorized a share buyback program on Thursday, September 26th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the information technology services provider to purchase up to 1.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Accenture Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 10th will be paid a dividend of $1.48 per share. This is an increase from Accenture’s previous quarterly dividend of $1.29. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.71%. Accenture’s dividend payout ratio is presently 51.79%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. UBS Group boosted their target price on Accenture from $400.00 to $415.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Citigroup raised their target price on Accenture from $350.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. StockNews.com lowered shares of Accenture from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective for the company. in a research note on Wednesday. Finally, TD Cowen upgraded shares of Accenture from a “hold” rating to a “buy” rating and lifted their price target for the stock from $321.00 to $400.00 in a research note on Monday, September 30th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $368.23.

About Accenture

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.