Brookstone Capital Management Sells 99 Shares of Accenture plc (NYSE:ACN)

Brookstone Capital Management trimmed its stake in Accenture plc (NYSE:ACNFree Report) by 3.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,158 shares of the information technology services provider’s stock after selling 99 shares during the period. Brookstone Capital Management’s holdings in Accenture were worth $1,111,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ACN. Morse Asset Management Inc bought a new stake in shares of Accenture in the 3rd quarter valued at about $25,000. MidAtlantic Capital Management Inc. acquired a new stake in Accenture in the third quarter valued at approximately $30,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in 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 purchasing an additional 85 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of Accenture during the third quarter worth $39,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of Accenture in the 3rd quarter worth $51,000. Institutional investors own 75.14% of the company’s stock.

Insiders Place Their Bets

In other Accenture news, General Counsel Joel Unruch sold 4,750 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $369.97, for a total transaction of $1,757,357.50. Following the completion of the transaction, the general counsel now owns 22,976 shares of the company’s stock, valued at $8,500,430.72. This represents a 17.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Angela Beatty sold 673 shares of Accenture stock in a transaction that occurred on Tuesday, October 22nd. The stock was 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 directly owns 5,650 shares in the company, valued at $2,102,817. This represents a 10.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,125 shares of company stock worth $9,570,260. Company insiders own 0.02% of the company’s stock.

Accenture Trading Up 0.3 %

Shares of Accenture stock opened at $350.92 on Friday. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $387.51. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market cap of $219.60 billion, a P/E ratio of 29.44, a price-to-earnings-growth ratio of 3.11 and a beta of 1.24. The firm has a 50-day simple moving average of $357.85 and a two-hundred day simple moving average of $344.97.

Accenture (NYSE:ACNGet Free Report) last issued its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The company had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. Accenture’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.27 earnings per share. As a group, equities analysts predict that Accenture plc will post 12.69 earnings per share for the current fiscal year.

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

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, January 16th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.69%. The ex-dividend date is Thursday, January 16th. Accenture’s payout ratio is presently 49.66%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ACN shares. BNP Paribas lowered Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price on the stock. in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price on the stock in a research report on Wednesday, January 8th. Jefferies Financial Group raised their price target on shares of Accenture from $355.00 to $385.00 and gave the stock a “hold” rating in a report on Friday, December 20th. Finally, BMO Capital Markets upped their target price on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $385.04.

Get Our Latest Analysis on ACN

Accenture Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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