Schulhoff & Co. Inc. Has $4.59 Million Stake in Accenture plc (NYSE:ACN)

Schulhoff & Co. Inc. increased its holdings in shares of Accenture plc (NYSE:ACN) by 3.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,980 shares of the information technology services provider’s stock after purchasing an additional 424 shares during the period. Accenture makes up 1.9% of Schulhoff & Co. Inc.’s portfolio, making the stock its 12th biggest position. Schulhoff & Co. Inc.’s holdings in Accenture were worth $4,588,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Kingsview Wealth Management LLC grew its position in Accenture by 5.0% in the first quarter. Kingsview Wealth Management LLC now owns 9,275 shares of the information technology services provider’s stock valued at $3,215,000 after purchasing an additional 445 shares in the last quarter. Private Portfolio Partners LLC raised its holdings in Accenture by 4.5% during the first quarter. Private Portfolio Partners LLC now owns 926 shares of the information technology services provider’s stock worth $321,000 after acquiring an additional 40 shares in the last quarter. Leo Wealth LLC boosted its position in Accenture by 5.9% during the first quarter. Leo Wealth LLC now owns 2,377 shares of the information technology services provider’s stock valued at $821,000 after purchasing an additional 133 shares during the last quarter. Brighton Jones LLC grew its stake in Accenture by 1.3% in the first quarter. Brighton Jones LLC now owns 18,117 shares of the information technology services provider’s stock valued at $6,279,000 after purchasing an additional 234 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its stake in shares of Accenture by 6.8% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 8,145 shares of the information technology services provider’s stock worth $2,823,000 after purchasing an additional 522 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Accenture Price Performance

Accenture stock opened at $370.34 on Thursday. The business’s fifty day moving average is $354.85 and its 200 day moving average is $326.48. The stock has a market capitalization of $231.52 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 3.15 and a beta of 1.25. Accenture plc has a one year low of $278.69 and a one year high of $387.51.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.01. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The business had revenue of $16.41 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same period last year, the firm posted $2.71 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, sell-side analysts expect that Accenture plc will post 12.77 EPS for the current fiscal year.

Accenture Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 10th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.60%. This is an increase from Accenture’s previous quarterly dividend of $1.29. The ex-dividend date is Thursday, October 10th. Accenture’s dividend payout ratio is presently 51.79%.

Accenture declared that its Board of Directors has approved a stock repurchase plan on Thursday, September 26th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 1.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

ACN has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their price target on Accenture from $380.00 to $390.00 and gave the stock a “market perform” rating in a research report on Friday, September 27th. Mizuho increased their price target on Accenture from $352.00 to $365.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. UBS Group lifted their price objective on shares of Accenture from $400.00 to $415.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. dropped their price objective on shares of Accenture from $376.00 to $370.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 24th. Finally, Citigroup lifted their target price on shares of Accenture from $350.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $368.23.

Insider Activity

In other Accenture news, 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 value of $3,385,440.00. Following the sale, the chief executive officer now directly owns 20,324 shares in the company, valued at approximately $7,645,075.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Angela Beatty sold 673 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $372.18, for a total value of $250,477.14. Following the transaction, the insider now directly owns 5,650 shares in the company, valued at approximately $2,102,817. This represents 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 the SEC website. Also, CEO Julie Spellman Sweet sold 9,000 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $376.16, for a total value of $3,385,440.00. Following the completion of the transaction, the chief executive officer now directly owns 20,324 shares in the company, valued at approximately $7,645,075.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,298 shares of company stock worth $13,372,661 over the last quarter. Insiders own 0.07% of the company’s stock.

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.