Turtle Creek Wealth Advisors LLC Purchases 350 Shares of Accenture plc (NYSE:ACN)

Turtle Creek Wealth Advisors LLC grew its stake in Accenture plc (NYSE:ACN) by 50.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,044 shares of the information technology services provider’s stock after buying an additional 350 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Accenture were worth $369,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ACN. Schrum Private Wealth Management LLC grew its holdings in Accenture by 78.6% in the 3rd quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock valued at $4,047,000 after buying an additional 5,038 shares during the last quarter. MQS Management LLC bought a new position in Accenture during the third quarter worth $1,040,000. M&G PLC boosted its holdings in Accenture by 34.1% in the 3rd quarter. M&G PLC now owns 292,808 shares of the information technology services provider’s stock valued at $103,361,000 after purchasing an additional 74,438 shares during the period. Concurrent Investment Advisors LLC grew its position in Accenture by 70.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock worth $12,581,000 after purchasing an additional 14,724 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Accenture by 18.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 172,199 shares of the information technology services provider’s stock worth $52,247,000 after purchasing an additional 27,168 shares during the period. Institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 458 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $373.25, for a total transaction of $170,948.50. Following the transaction, the chief accounting officer now owns 9,777 shares in the company, valued at $3,649,265.25. This represents a 4.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Julie Spellman Sweet sold 9,000 shares of Accenture stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $376.16, for a total transaction of $3,385,440.00. Following the completion of the sale, the chief executive officer now owns 20,324 shares of the company’s stock, valued at approximately $7,645,075.84. The trade was a 30.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,298 shares of company stock valued at $13,372,661 in the last ninety days. 0.07% of the stock is currently owned by corporate insiders.

Accenture Stock Performance

ACN traded down $8.50 during trading hours on Friday, reaching $353.57. The company’s stock had a trading volume of 3,624,539 shares, compared to its average volume of 2,730,625. The company’s 50-day moving average is $355.55 and its 200-day moving average is $327.08. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51. The firm has a market cap of $221.04 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 3.24 and a beta of 1.25.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.78 by $0.01. The company had revenue of $16.41 billion during the quarter, compared to analysts’ expectations of $16.37 billion. Accenture had a net margin of 11.20% and a return on equity of 26.83%. Accenture’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.71 EPS. Equities analysts anticipate that Accenture plc will post 12.77 earnings per share for the current fiscal year.

Accenture declared that its board has approved a share buyback plan on Thursday, September 26th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Accenture Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 10th were paid a $1.48 dividend. The ex-dividend date was Thursday, October 10th. This is an increase from Accenture’s previous quarterly dividend of $1.29. This represents a $5.92 annualized dividend and a yield of 1.67%. Accenture’s payout ratio is 51.79%.

Analyst Ratings Changes

ACN has been the topic of several research reports. BNP Paribas lowered Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target on the stock. in a research note on Wednesday, October 30th. Piper Sandler Companies restated a “neutral” rating and issued a $329.00 target price on shares of Accenture in a research note on Friday, September 20th. Robert W. Baird lifted their price target on shares of Accenture from $350.00 to $370.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Citigroup raised their price objective on shares of Accenture from $350.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Finally, Bank of America upped their target price on shares of Accenture from $365.00 to $388.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Accenture presently has an average rating of “Moderate Buy” and an average price target of $368.23.

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.