Tudor Financial Inc. Purchases 3,222 Shares of Accenture PLC $ACN

Tudor Financial Inc. lifted its position in shares of Accenture PLC (NYSE:ACN) by 45.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,360 shares of the information technology services provider’s stock after purchasing an additional 3,222 shares during the period. Tudor Financial Inc.’s holdings in Accenture were worth $1,289,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACN. McMillan Office Inc. purchased a new stake in Accenture in the fourth quarter worth $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Accenture in the 4th quarter worth about $27,000. Triumph Capital Management bought a new stake in shares of Accenture during the 3rd quarter valued at about $26,000. Lloyd Advisory Services LLC. bought a new position in Accenture in the fourth quarter worth about $35,000. Finally, IMG Wealth Management Inc. lifted its holdings in Accenture by 134.8% in the first quarter. IMG Wealth Management Inc. now owns 155 shares of the information technology services provider’s stock worth $31,000 after buying an additional 89 shares during the period. Institutional investors own 75.14% of the company’s stock.

Accenture Stock Performance

Shares of ACN stock opened at $193.19 on Friday. The company has a market capitalization of $129.01 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 1.51 and a beta of 1.10. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.34 and a current ratio of 1.34. Accenture PLC has a one year low of $118.15 and a one year high of $291.09. The company’s 50-day moving average is $160.77 and its 200 day moving average is $176.79.

Accenture (NYSE:ACN) last issued its earnings results on Friday, June 19th. The information technology services provider reported $3.80 EPS for the quarter, beating the consensus estimate of $3.70 by $0.10. The business had revenue of $18.72 billion for the quarter, compared to the consensus estimate of $18.78 billion. Accenture had a return on equity of 26.47% and a net margin of 10.66%.The company’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $3.49 EPS. Sell-side analysts expect that Accenture PLC will post 13.86 EPS for the current fiscal year.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Thursday, July 9th were given a $1.63 dividend. The ex-dividend date was Thursday, July 9th. This represents a $6.52 annualized dividend and a yield of 3.4%. Accenture’s dividend payout ratio (DPR) is presently 52.08%.

Accenture announced that its Board of Directors has approved a share repurchase program on Tuesday, June 23rd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have weighed in on ACN shares. BNP Paribas Exane reduced their target price on Accenture from $180.00 to $130.00 and set a “neutral” rating on the stock in a report on Friday, June 26th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $150.00 price target on shares of Accenture in a research note on Friday, June 19th. JPMorgan Chase & Co. decreased their price objective on Accenture from $247.00 to $201.00 and set an “overweight” rating for the company in a report on Monday, June 8th. Truist Financial lowered their price objective on Accenture from $210.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, June 22nd. Finally, Mizuho reduced their target price on shares of Accenture from $280.00 to $226.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 23rd. Twelve research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $194.19.

Insider Buying and Selling at Accenture

In other news, General Counsel Joel Unruch sold 10,498 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $162.98, for a total transaction of $1,710,964.04. Following the completion of the sale, the general counsel owned 17,735 shares of the company’s stock, valued at $2,890,450.30. The trade was a 37.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is owned by corporate insiders.

Accenture Company Profile

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.