Legacy Wealth Asset Management LLC decreased its holdings in shares of Accenture plc (NYSE:ACN - Free Report) by 51.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,094 shares of the information technology services provider's stock after selling 5,464 shares during the period. Legacy Wealth Asset Management LLC's holdings in Accenture were worth $1,590,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Fifth Third Wealth Advisors LLC increased its holdings in shares of Accenture by 18.8% in the first quarter. Fifth Third Wealth Advisors LLC now owns 15,789 shares of the information technology services provider's stock valued at $4,927,000 after buying an additional 2,498 shares in the last quarter. Peoples Bank KS purchased a new stake in shares of Accenture during the first quarter valued at $53,000. IVC Wealth Advisors LLC acquired a new position in shares of Accenture in the 1st quarter valued at $216,000. Marion Wealth Management increased its stake in Accenture by 0.6% in the 1st quarter. Marion Wealth Management now owns 12,083 shares of the information technology services provider's stock worth $3,770,000 after purchasing an additional 72 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. raised its holdings in Accenture by 13.9% during the 1st quarter. Beese Fulmer Investment Management Inc. now owns 703 shares of the information technology services provider's stock worth $219,000 after buying an additional 86 shares during the period. 75.14% of the stock is currently owned by institutional investors.
Insider Transactions at Accenture
In other Accenture news, General Counsel Joel Unruch sold 3,563 shares of Accenture stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.78, for a total transaction of $1,003,982.14. Following the sale, the general counsel now owns 17,237 shares in the company, valued at $4,857,041.86. The trade was a 17.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Angela Beatty sold 169 shares of the stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.90, for a total transaction of $47,641.10. Following the completion of the transaction, the insider now owns 5,364 shares of the company's stock, valued at approximately $1,512,111.60. This represents a 3.05% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,516 shares of company stock worth $2,507,366. 0.02% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on ACN. Morgan Stanley cut their price target on shares of Accenture from $380.00 to $372.00 and set an "equal weight" rating on the stock in a report on Monday, March 17th. UBS Group reissued a "buy" rating and set a $395.00 target price (up from $390.00) on shares of Accenture in a research note on Thursday, May 22nd. Baird R W raised Accenture from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Guggenheim dropped their price target on Accenture from $400.00 to $395.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Finally, Mizuho decreased their price objective on Accenture from $428.00 to $398.00 and set an "outperform" rating for the company in a research report on Wednesday, March 19th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Accenture presently has a consensus rating of "Moderate Buy" and a consensus target price of $382.14.
Read Our Latest Analysis on ACN
Accenture Stock Performance
Shares of NYSE ACN traded down $1.54 during trading hours on Tuesday, hitting $312.94. 3,678,232 shares of the stock were exchanged, compared to its average volume of 2,972,910. Accenture plc has a one year low of $275.01 and a one year high of $398.35. The company's 50 day moving average is $302.69 and its 200 day moving average is $338.08. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market capitalization of $196.00 billion, a P/E ratio of 26.25, a P/E/G ratio of 3.23 and a beta of 1.35.
Accenture (NYSE:ACN - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, topping analysts' consensus estimates of $2.81 by $0.01. The business had revenue of $16.70 billion for the quarter, compared to analyst estimates of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.77 earnings per share. On average, research analysts expect that Accenture plc will post 12.73 EPS for the current year.
Accenture Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th were given a $1.48 dividend. The ex-dividend date was Thursday, April 10th. This represents a $5.92 annualized dividend and a yield of 1.89%. Accenture's dividend payout ratio is 48.89%.
About Accenture
(
Free Report)
Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.
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