Accenture PLC $ACN Stake Reduced by North Point Portfolio Managers Corp OH

North Point Portfolio Managers Corp OH cut its position in shares of Accenture PLC (NYSE:ACN) by 5.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,511 shares of the information technology services provider’s stock after selling 2,901 shares during the period. Accenture comprises 1.8% of North Point Portfolio Managers Corp OH’s portfolio, making the stock its 24th biggest position. North Point Portfolio Managers Corp OH’s holdings in Accenture were worth $9,629,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Regent Peak Wealth Advisors LLC raised its stake in Accenture by 10.4% in the second quarter. Regent Peak Wealth Advisors LLC now owns 74,187 shares of the information technology services provider’s stock worth $9,232,000 after buying an additional 7,018 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in Accenture by 6.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 74,054 shares of the information technology services provider’s stock valued at $19,869,000 after acquiring an additional 4,640 shares in the last quarter. Dynamic Advisor Solutions LLC increased its holdings in shares of Accenture by 72.4% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 19,455 shares of the information technology services provider’s stock valued at $2,421,000 after acquiring an additional 8,169 shares during the period. Bright Rock Capital Management LLC bought a new position in shares of Accenture in the 2nd quarter worth $7,466,000. Finally, Dearborn Partners LLC purchased a new stake in shares of Accenture during the 2nd quarter worth $25,108,000. Institutional investors own 75.14% of the company’s stock.

Insider Transactions at Accenture

In other Accenture news, General Counsel Joel Unruch sold 10,498 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $162.98, for a total value of $1,710,964.04. Following the completion of the transaction, the general counsel owned 17,735 shares of the company’s stock, valued at approximately $2,890,450.30. This trade represents a 37.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.02% of the company’s stock.

Accenture Stock Up 1.9%

NYSE:ACN traded up $3.68 during mid-day trading on Wednesday, hitting $197.08. 1,929,157 shares of the company’s stock traded hands, compared to its average volume of 6,971,438. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.34 and a current ratio of 1.43. The company has a market capitalization of $131.61 billion, a P/E ratio of 14.53, a P/E/G ratio of 1.61 and a beta of 1.11. The company has a fifty day moving average of $182.31 and a 200 day moving average of $173.42. Accenture PLC has a twelve month low of $118.15 and a twelve month high of $291.09.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, October 1st. The information technology services provider reported $3.29 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.11. Accenture had a return on equity of 26.53% and a net margin of 11.28%.The business had revenue of $18.68 billion for the quarter, compared to analyst estimates of $18.03 billion. During the same quarter in the previous year, the firm earned $3.03 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. Accenture has set its FY 2027 guidance at 14.390-14.810 EPS. On average, analysts forecast that Accenture PLC will post 14.66 EPS for the current year.

Accenture declared that its Board of Directors has initiated a share buyback program on Tuesday, June 23rd that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the information technology services provider to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Accenture Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 13th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $6.84 annualized dividend and a yield of 3.5%. This is a boost from Accenture’s previous quarterly dividend of $1.63. Accenture’s payout ratio is presently 48.08%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. UBS Group reiterated a “buy” rating on shares of Accenture in a research note on Wednesday, September 30th. DA Davidson decreased their price target on shares of Accenture from $275.00 to $175.00 and set a “buy” rating for the company in a research report on Tuesday, June 23rd. Robert W. Baird set a $245.00 price target on shares of Accenture in a report on Thursday, October 1st. Wolfe Research boosted their price objective on shares of Accenture from $165.00 to $215.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 25th. Finally, TD Cowen increased their target price on shares of Accenture from $173.00 to $193.00 and gave the company a “hold” rating in a research report on Thursday, October 1st. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Accenture presently has a consensus rating of “Hold” and an average price target of $219.15.

Accenture Company Profile

Accenture plc (NYSE: ACN) is a global professional services company that helps organizations improve performance, modernize operations and respond to technological and market changes. Its services span strategy and consulting, technology, operations, and managed services, with expertise across industries including communications, financial services, health care, public service, retail, manufacturing and resources.

The company provides digital transformation, cloud migration, data and artificial intelligence, cybersecurity, systems integration and technology implementation services.