Cyndeo Wealth Partners LLC Sells 7,629 Shares of Accenture plc (NYSE:ACN)

Cyndeo Wealth Partners LLC lowered its holdings in shares of Accenture plc (NYSE:ACN) by 21.7% in the third quarter, HoldingsChannel reports. The firm owned 27,605 shares of the information technology services provider’s stock after selling 7,629 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Accenture were worth $9,758,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Unique Wealth Strategies LLC acquired a new stake in shares of Accenture in the second quarter valued at approximately $26,000. Annapolis Financial Services LLC raised its position in Accenture by 507.7% during the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 66 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in Accenture during the second quarter valued at approximately $28,000. CarsonAllaria Wealth Management Ltd. acquired a new position in Accenture during the first quarter valued at approximately $35,000. Finally, Tsfg LLC increased its holdings in shares of Accenture by 267.9% during the first quarter. Tsfg LLC now owns 103 shares of the information technology services provider’s stock worth $36,000 after buying an additional 75 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Insider Activity at Accenture

In related news, General Counsel Joel Unruch sold 8,145 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the completion of the sale, the general counsel now directly owns 22,849 shares in the company, valued at $7,564,161.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Accenture news, CAO Melissa A. Burgum sold 458 shares of the stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $373.25, for a total value of $170,948.50. Following the completion of the sale, the chief accounting officer now owns 9,777 shares in the company, valued at approximately $3,649,265.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Joel Unruch sold 8,145 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $331.05, for a total value of $2,696,402.25. Following the completion of the sale, the general counsel now owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,693 shares of company stock worth $8,282,341 in the last ninety days. 0.07% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ACN shares. BMO Capital Markets upped their price target on shares of Accenture from $380.00 to $390.00 and gave the stock a “market perform” rating in a report on Friday, September 27th. UBS Group raised their price objective on Accenture from $400.00 to $415.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. TD Cowen upgraded Accenture from a “hold” rating to a “buy” rating and lifted their target price for the stock from $321.00 to $400.00 in a report on Monday, September 30th. Barclays lifted their target price on Accenture from $350.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Piper Sandler upgraded Accenture from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $329.00 to $395.00 in a report on Thursday, September 26th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $371.18.

Accenture Stock Up 0.5 %

Shares of NYSE ACN opened at $376.86 on Friday. The firm has a market capitalization of $236.18 billion, a P/E ratio of 34.51, a P/E/G ratio of 3.47 and a beta of 1.25. The stock’s 50-day simple moving average is $345.48 and its two-hundred day simple moving average is $321.67. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51.

Accenture (NYSE:ACN) last posted its quarterly earnings data 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 firm had revenue of $16.41 billion during the quarter, compared to analysts’ expectations of $16.37 billion. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.71 EPS. As a group, research analysts anticipate that Accenture plc will post 12.79 EPS for the current fiscal year.

Accenture declared that its Board of Directors has initiated a stock repurchase program 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 programs are generally a sign that the company’s board believes its shares are undervalued.

Accenture Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 10th will be issued a dividend of $1.48 per share. The ex-dividend date is Thursday, October 10th. This is a boost from Accenture’s previous quarterly dividend of $1.29. This represents a $5.92 annualized dividend and a yield of 1.57%. 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.