Recently, several large investors adjusted their shares in Accenture (ACN). Unique Wealth Strategies LLC invested around $26,000 in the second quarter. Annapolis Financial Services LLC increased its investment by 507.7%, now holding 79 shares valued at $27,000. Strategic Financial Concepts LLC and Ables Iannone Moore & Associates Inc. also acquired new shares worth about $28,000 and $29,000, respectively. Atwood & Palmer Inc. raised its stake by 214.8%, now holding shares valued at $29,000. Currently, institutional investors and hedge funds own 75.14% of ACN stock.
Analyst Ratings
Analysts have been active with Accenture recently. BMO Capital Markets increased its target price from $380 to $390, maintaining a market perform rating. Wedbush lowered its target from $400 to $350, giving it an outperform rating. Royal Bank of Canada raised its target to $389 with an outperform rating. Piper Sandler set a $329 target with a neutral rating. Eight analysts suggest holding the stock while fifteen recommend buying. MarketBeat indicates a consensus rating of Moderate Buy with a target price of $371.18.
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Stock Performance
As of Friday, ACN stock opened at $361.37. It has a 1-year range of $278.69 to $387.51, with a market cap of $226.47 billion. Accenture reported $2.79 EPS for the last quarter, slightly above expectations, with revenues of $16.41 billion, a 2.6% year-over-year increase.
Dividend Announcement
Accenture declared a quarterly dividend of $1.48 to be paid on November 15, with an annual dividend yield of 1.64%. This is an increase from the previous dividend of $1.29. The ex-dividend date is October 10. The current payout ratio is 54.21%.
Share Buyback Program
The board approved a $4 billion stock buyback program, allowing Accenture to repurchase up to 1.8% of its shares, indicating management believes the stock is undervalued.
Insider Transactions
Insider Ellyn Shook sold 5,000 shares at $329.82 each for $1.65 million. After the sale, she retains 8,989 shares worth about $2.96 million. General Counsel Joel Unruch sold 8,145 shares at $331.05, totaling $2.70 million. In the last three months, insiders sold 21,421 shares worth approximately $6.91 million, with corporate insiders owning only 0.07% of shares.
About Accenture
Accenture plc is a global professional services company offering strategy, consulting, digital, technology, and operations services. Its services include application management, intelligent automation, data strategy, and solutions in AI and sustainability.
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