Accenture PLC $ACN Position Boosted by GRIMES & Co WEALTH MANAGEMENT LLC

GRIMES & Co WEALTH MANAGEMENT LLC increased its position in shares of Accenture PLC (NYSE:ACN) by 44.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 97,622 shares of the information technology services provider’s stock after buying an additional 29,871 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Accenture were worth $17,901,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC raised its holdings in Accenture by 10.4% in the 2nd quarter. Regent Peak Wealth Advisors LLC now owns 74,187 shares of the information technology services provider’s stock worth $9,232,000 after purchasing an additional 7,018 shares during the period. Carnegie Investment Counsel boosted its position in Accenture by 63.5% during the third quarter. Carnegie Investment Counsel now owns 26,565 shares of the information technology services provider’s stock worth $4,871,000 after purchasing an additional 10,322 shares in the last quarter. Dynamic Advisor Solutions LLC grew its holdings in Accenture by 72.4% in the second quarter. Dynamic Advisor Solutions LLC now owns 19,455 shares of the information technology services provider’s stock valued at $2,421,000 after purchasing an additional 8,169 shares during the period. Dearborn Partners LLC acquired a new stake in Accenture in the second quarter valued at approximately $25,108,000. Finally, Bright Rock Capital Management LLC purchased a new stake in shares of Accenture in the second quarter valued at approximately $7,466,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Trading Up 1.3%

ACN stock opened at $261.47 on Tuesday. Accenture PLC has a 12-month low of $118.15 and a 12-month high of $291.09. The business’s 50-day moving average is $204.28 and its 200 day moving average is $192.36. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31. The stock has a market cap of $154.54 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 1.87 and a beta of 1.11.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, October 1st. The information technology services provider reported $3.29 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.11. The business had revenue of $18.68 billion during the quarter, compared to analysts’ expectations of $18.03 billion. Accenture had a return on equity of 26.53% and a net margin of 11.28%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.03 earnings per share. Accenture has set its FY 2027 guidance at 14.390-14.810 EPS. On average, sell-side analysts anticipate that Accenture PLC will post 14.68 EPS for the current fiscal year.

Accenture Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 13th will be given a dividend of $1.71 per share. The ex-dividend date is Tuesday, October 13th. This is a positive change from Accenture’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 2.6%. Accenture’s dividend payout ratio (DPR) is presently 50.44%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ACN shares. The Goldman Sachs Group upped their target price on Accenture from $230.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, October 1st. Argus lifted their price target on shares of Accenture from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. UBS Group set a $278.00 price target on shares of Accenture in a research note on Thursday, October 15th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Accenture from $136.00 to $175.00 and gave the stock a “hold” rating in a report on Friday, September 18th. Finally, Susquehanna upped their price objective on shares of Accenture from $210.00 to $230.00 and gave the stock a “neutral” rating in a research report on Thursday, October 15th. Ten investment analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the stock. Based on data from MarketBeat.com, Accenture presently has a consensus rating of “Hold” and an average price target of $221.07.

Insider Activity

In other news, Director Paula Price acquired 800 shares of Accenture stock in a transaction that occurred on Monday, October 26th. The stock was purchased at an average cost of $249.81 per share, with a total value of $199,848.00. Following the purchase, the director owned 9,361 shares in the company, valued at $2,338,471.41. This trade represents a 9.34% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Julie Sweet acquired 12,200 shares of the firm’s stock in a transaction on Monday, October 26th. The stock was purchased at an average price of $245.99 per share, for a total transaction of $3,001,078.00. Following the acquisition, the chief executive officer directly owned 48,910 shares in the company, valued at $12,031,370.90. This represents a 33.23% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 8,675 shares of company stock valued at $2,047,563 in the last three months. Company insiders own 0.02% of the company’s stock.

About Accenture

Accenture plc is a global professional services company that helps organizations transform their businesses through consulting, technology and managed services. Its work spans strategy and consulting, technology implementation, operations, and interactive customer experiences.

The company provides services in areas including cloud computing, artificial intelligence, cybersecurity, data and analytics, digital engineering, enterprise software, systems integration and business process outsourcing.