U.S. Capital Wealth Advisors LLC Trims Stock Holdings in Accenture plc (NYSE:ACN)

U.S. Capital Wealth Advisors LLC cut its holdings in Accenture plc (NYSE:ACN) by 10.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,548 shares of the information technology services provider’s stock after selling 1,170 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Accenture were worth $3,729,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Accenture by 1.1% during the first quarter. Vanguard Group Inc. now owns 59,718,732 shares of the information technology services provider’s stock valued at $20,699,110,000 after acquiring an additional 635,349 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Accenture by 1.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,912,962 shares of the information technology services provider’s stock worth $3,311,102,000 after purchasing an additional 131,544 shares during the period. Capital Research Global Investors boosted its stake in Accenture by 2.0% during the first quarter. Capital Research Global Investors now owns 8,652,537 shares of the information technology services provider’s stock valued at $2,999,056,000 after buying an additional 173,107 shares during the period. Legal & General Group Plc grew its position in Accenture by 1.4% during the second quarter. Legal & General Group Plc now owns 5,887,266 shares of the information technology services provider’s stock worth $1,786,256,000 after buying an additional 80,514 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of Accenture by 4.1% in the 1st quarter. Lazard Asset Management LLC now owns 3,797,028 shares of the information technology services provider’s stock valued at $1,316,086,000 after acquiring an additional 148,738 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Insider Activity

In other Accenture news, CEO Julie Spellman Sweet sold 9,000 shares of Accenture stock in a transaction on Monday, October 21st. The stock was 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 approximately $7,645,075.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Accenture news, insider Angela Beatty sold 673 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $372.18, for a total transaction of $250,477.14. Following the sale, the insider now directly owns 5,650 shares in the company, valued at approximately $2,102,817. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Julie Spellman Sweet sold 9,000 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $376.16, for a total value of $3,385,440.00. Following the transaction, the chief executive officer now directly owns 20,324 shares in the company, valued at approximately $7,645,075.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,221 shares of company stock worth $7,572,755. Insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ACN. UBS Group upped their price objective on shares of Accenture from $400.00 to $415.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. TD Cowen raised shares of Accenture from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $321.00 to $400.00 in a report on Monday, September 30th. Barclays increased their target price on Accenture from $350.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Bank of America upped their price objective on Accenture from $365.00 to $388.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, BMO Capital Markets raised their price objective on Accenture from $380.00 to $390.00 and gave the company a “market perform” rating in a 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $371.18.

Accenture Trading Down 0.3 %

NYSE:ACN opened at $370.63 on Thursday. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51. The company has a 50-day moving average price of $348.78 and a 200-day moving average price of $322.52. The stock has a market cap of $232.27 billion, a price-to-earnings ratio of 33.94, a P/E/G ratio of 3.47 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 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 firm had revenue of $16.41 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter in the prior year, the business earned $2.71 EPS. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities analysts forecast that Accenture plc will post 12.79 EPS for the current fiscal year.

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

Accenture Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 10th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Thursday, October 10th. This is a boost from Accenture’s previous quarterly dividend of $1.29. Accenture’s dividend payout ratio is 54.21%.

Accenture Company 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.