Accenture (NYSE:ACN) Stock Acquired Rep. Jared Moskowitz

Representative Jared Moskowitz (D-Florida) recently bought shares of Accenture plc (NYSE:ACN). In a filing disclosed on December 09th, the Representative disclosed that they had bought between $1,001 and $15,000 in Accenture stock on November 8th. The trade occurred in the Representative’s “MORGAN STANLEY ACTIVE ASSETS (1)” account.

Representative Jared Moskowitz also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Elevance Health (NYSE:ELV) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Broadcom (NASDAQ:AVGO) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of QUALCOMM (NASDAQ:QCOM) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of PepsiCo (NASDAQ:PEP) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Tractor Supply (NASDAQ:TSCO) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of McDonald’s (NYSE:MCD) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Alphabet (NASDAQ:GOOG) on 11/8/2024.
• Sold $50,001 – $100,000 in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) on 11/8/2024.
• Sold $15,001 – $50,000 in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) on 11/8/2024.

Accenture Stock Down 0.8 %

Shares of ACN stock opened at $359.65 on Tuesday. The company’s fifty day simple moving average is $360.26 and its two-hundred day simple moving average is $333.42. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51. The stock has a market cap of $224.84 billion, a P/E ratio of 31.47, a PEG ratio of 3.22 and a beta of 1.24.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, September 26th. The information technology services provider reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.01. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The company had revenue of $16.41 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same period in the previous year, the business earned $2.71 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, analysts anticipate that Accenture plc will post 12.76 EPS for the current fiscal year.

Accenture Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 10th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Thursday, October 10th. This is an increase from Accenture’s previous quarterly dividend of $1.29. Accenture’s payout ratio is 51.79%.

Accenture announced that its Board of Directors has initiated a share repurchase plan on Thursday, September 26th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to purchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Accenture

Institutional investors and hedge funds have recently bought and sold shares of the company. Schrum Private Wealth Management LLC raised its holdings in shares of Accenture by 78.6% in the third 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 acquiring an additional 5,038 shares in the last quarter. MQS Management LLC purchased a new position in Accenture during the 3rd quarter valued at about $1,040,000. Concurrent Investment Advisors LLC lifted its position in shares of 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 period. M&G PLC boosted its stake in shares of Accenture by 34.1% during the third 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 in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Accenture by 18.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 172,199 shares of the information technology services provider’s stock valued at $52,247,000 after buying an additional 27,168 shares during the period. 75.14% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Julie Spellman Sweet sold 9,000 shares of the business’s 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 transaction, the chief executive officer now owns 20,324 shares in the company, valued at $7,645,075.84. The trade was a 30.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 sale, the chief accounting officer now directly owns 9,777 shares of the company’s stock, valued at $3,649,265.25. The trade was a 4.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,298 shares of company stock valued at $13,372,661 over the last 90 days. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the topic of several research reports. Susquehanna boosted their price target on shares of Accenture from $350.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. BNP Paribas cut shares of 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. TD Cowen upgraded 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 report on Monday, September 30th. UBS Group upped their price objective on Accenture from $400.00 to $415.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, Bank of America boosted their target price on Accenture from $365.00 to $388.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Accenture presently has a consensus rating of “Moderate Buy” and a consensus target price of $372.09.

About Representative Moskowitz

Jared Evan Moskowitz (Democratic Party) is a member of the U.S. House, representing Florida’s 23rd Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Moskowitz (Democratic Party) is running for re-election to the U.S. House to represent Florida’s 23rd Congressional District. He declared candidacy for the Democratic primary scheduled on August 20, 2024. Moskowitz resigned his state House seat on January 11, 2019, to head the state’s Division of Emergency Management. Jared Evan Moskowitz was born in Coral Springs, Florida. Moskowitz graduated from Marjory Stoneman Douglas High School. He earned a bachelor’s degree in political science and government from George Washington University in 2003 and a law degree from Nova Southeastern University in 2007. Moskowitz’s career experience includes working as the director of the Florida Division of Emergency Management and general counsel with AshBritt Inc.

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.