375 Shares in Accenture plc (NYSE:ACN) Purchased by D Orazio & Associates Inc.

D Orazio & Associates Inc. bought a new stake in Accenture plc (NYSE:ACN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 375 shares of the information technology services provider’s stock, valued at approximately $120,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Accenture by 0.6% during the 2nd quarter. State Street Corp now owns 25,327,745 shares of the information technology services provider’s stock worth $7,466,412,000 after acquiring an additional 157,577 shares during the period. FMR LLC increased its holdings in Accenture by 9.1% during the 2nd quarter. FMR LLC now owns 12,279,859 shares of the information technology services provider’s stock worth $3,619,980,000 after acquiring an additional 1,020,098 shares during the period. Geode Capital Management LLC increased its holdings in shares of Accenture by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 10,181,463 shares of the information technology services provider’s stock worth $2,992,899,000 after buying an additional 323,633 shares during the last quarter. Polen Capital Management LLC increased its holdings in shares of Accenture by 3.8% in the 2nd quarter. Polen Capital Management LLC now owns 8,238,617 shares of the information technology services provider’s stock worth $2,428,662,000 after buying an additional 303,763 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of Accenture by 1.3% in the 2nd quarter. Lazard Asset Management LLC now owns 4,357,048 shares of the information technology services provider’s stock worth $1,284,413,000 after buying an additional 55,738 shares during the last quarter. Hedge funds and other institutional investors own 73.08% of the company’s stock.

Accenture stock traded down $5.70 during midday trading on Friday, reaching $355.67. 38,051 shares of the stock traded hands, compared to its average volume of 2,501,309. The company has a 50-day simple moving average of $379.13 and a two-hundred day simple moving average of $346.44. Accenture plc has a 12-month low of $241.73 and a 12-month high of $417.37. The firm has a market cap of $224.84 billion, a PE ratio of 37.60, a price-to-earnings-growth ratio of 3.58 and a beta of 1.16.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, December 16th. The information technology services provider reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.15. The firm had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $14.22 billion. Accenture had a return on equity of 30.42% and a net margin of 11.54%. The firm’s revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.17 earnings per share. On average, analysts expect that Accenture plc will post 10.54 EPS for the current year.

Accenture declared that its board has approved a share repurchase program on Thursday, September 23rd that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 1.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 15th. Stockholders of record on Thursday, January 13th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Wednesday, January 12th. Accenture’s payout ratio is currently 40.37%.

In other news, CAO Richard P. Clark sold 2,131 shares of the company’s stock in a transaction on Monday, October 25th. The stock was sold at an average price of $356.08, for a total value of $758,806.48. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider James O. Etheredge sold 1,966 shares of the company’s stock in a transaction on Monday, October 25th. The shares were sold at an average price of $356.11, for a total value of $700,112.26. The disclosure for this sale can be found here. Insiders have sold 16,496 shares of company stock worth $5,865,002 in the last ninety days. 0.07% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently issued reports on ACN shares. Argus increased their price target on shares of Accenture from $330.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, September 24th. Morgan Stanley upped their price objective on shares of Accenture from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, December 17th. Citigroup increased their price target on shares of Accenture from $390.00 to $460.00 and gave the stock a “buy” rating in a research note on Friday, December 17th. Stifel Nicolaus increased their price target on shares of Accenture from $342.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, September 23rd. Finally, Piper Sandler raised their price objective on shares of Accenture from $354.00 to $433.00 and gave the company a “neutral” rating in a research note on Friday, December 17th. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $387.76.

Accenture Company Profile

Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following geographical segments: North America, Europe and Growth Markets. The company was founded in 1989 and is headquartered in Dublin, Ireland.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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