Friday, June 24, 2011

Accenture Trades Close to All Time High, Company Continues Buying Shares

After the close on Thursday, Accenture (ACN) reported earnings that surpassed earnings estimates. The company continues to report strong numbers with 21% revenue growth and 27% earnings growth.
More important to us is that all though the stock traded at an all time high during the quarter at $58.21, the company bought back $644M worth of stock at an average price of $56.50. The stock remains a top five pick in our Net Payout Yields (NPY) portfolio, which invests in stocks with high yields comprised of dividends plus stock repurchases.

Read full article at Seeking Alpha

1 comment:

Mark Holder said...

Being added to the SP500. Looks like all those buybacks were very timely.