Legacy Capital Wealth Partners LLC Sells 576 Shares of Accenture plc (NYSE:ACN)

Legacy Capital Wealth Partners LLC cut its stake in Accenture plc (NYSE:ACN) by 12.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,229 shares of the information technology services provider’s stock after selling 576 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Accenture were worth $1,488,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Everhart Financial Group Inc. boosted its holdings in shares of Accenture by 3.4% during the 4th quarter. Everhart Financial Group Inc. now owns 3,810 shares of the information technology services provider’s stock worth $1,340,000 after buying an additional 126 shares in the last quarter. Congress Asset Management Co. boosted its holdings in shares of Accenture by 1.3% during the 4th quarter. Congress Asset Management Co. now owns 68,296 shares of the information technology services provider’s stock worth $24,026,000 after buying an additional 886 shares in the last quarter. Roxbury Financial LLC bought a new position in shares of Accenture during the 4th quarter worth approximately $191,000. Aveo Capital Partners LLC boosted its holdings in shares of Accenture by 4.8% during the 4th quarter. Aveo Capital Partners LLC now owns 1,304 shares of the information technology services provider’s stock worth $459,000 after buying an additional 60 shares in the last quarter. Finally, Manchester Capital Management LLC boosted its holdings in shares of Accenture by 3.0% during the 4th quarter. Manchester Capital Management LLC now owns 4,114 shares of the information technology services provider’s stock worth $1,447,000 after buying an additional 119 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Accenture news, CEO Julie Spellman Sweet sold 2,497 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $354.48, for a total value of $885,136.56. Following the completion of the transaction, the chief executive officer now owns 28,866 shares in the company, valued at $10,232,419.68. This trade represents a 7.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Melissa A. Burgum sold 232 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the completion of the transaction, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is owned by insiders.

Accenture Trading Down 0.4 %

Shares of Accenture stock opened at $387.99 on Friday. Accenture plc has a 1 year low of $278.69 and a 1 year high of $398.35. The firm has a market cap of $242.80 billion, a PE ratio of 32.55, a P/E/G ratio of 3.44 and a beta of 1.24. The stock has a fifty day moving average price of $365.29 and a 200-day moving average price of $354.11. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. During the same quarter last year, the firm posted $3.27 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities research analysts anticipate that Accenture plc will post 12.73 EPS for the current year.

Accenture Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Thursday, January 16th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Thursday, January 16th. Accenture’s dividend payout ratio (DPR) is currently 49.66%.

Analysts Set New Price Targets

A number of research firms have issued reports on ACN. Piper Sandler increased their price target on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Robert W. Baird reiterated a “neutral” rating and issued a $370.00 target price on shares of Accenture in a report on Tuesday, December 3rd. Morgan Stanley increased their target price on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. UBS Group increased their target price on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, BMO Capital Markets increased their target price on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Accenture currently has an average rating of “Moderate Buy” and a consensus price target of $387.22.

About Accenture

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.