Legacy Bridge LLC Increases Position in Accenture plc (NYSE:ACN)

Legacy Bridge LLC boosted its holdings in shares of Accenture plc (NYSE:ACN) by 79.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,358 shares of the information technology services provider’s stock after purchasing an additional 1,485 shares during the quarter. Legacy Bridge LLC’s holdings in Accenture were worth $1,181,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ACN. Masso Torrence Wealth Management Inc. lifted its stake in Accenture by 2.0% in the third quarter. Masso Torrence Wealth Management Inc. now owns 1,447 shares of the information technology services provider’s stock valued at $511,000 after buying an additional 28 shares in the last quarter. BSW Wealth Partners increased its holdings in Accenture by 0.7% during the 3rd quarter. BSW Wealth Partners now owns 4,077 shares of the information technology services provider’s stock worth $1,441,000 after purchasing an additional 28 shares in the last quarter. Slow Capital Inc. lifted its holdings in shares of Accenture by 0.3% in the third quarter. Slow Capital Inc. now owns 9,067 shares of the information technology services provider’s stock valued at $3,205,000 after purchasing an additional 29 shares in the last quarter. Tradition Wealth Management LLC grew its holdings in shares of Accenture by 0.3% during the third quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock worth $3,871,000 after buying an additional 29 shares in the last quarter. Finally, NBC Securities Inc. boosted its position in Accenture by 0.6% during the 3rd quarter. NBC Securities Inc. now owns 5,206 shares of the information technology services provider’s stock worth $1,840,000 after acquiring an additional 30 shares during the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Accenture

In other news, CFO Angie Y. Park sold 685 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $354.38, for a total transaction of $242,750.30. Following the completion of the transaction, the chief financial officer now directly owns 8,674 shares of the company’s stock, valued at $3,073,892.12. This represents a 7.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryoji Sekido sold 3,191 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $343.70, for a total transaction of $1,096,746.70. Following the completion of the sale, the chief executive officer now directly owns 6 shares of the company’s stock, valued at approximately $2,062.20. The trade was a 99.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,446 shares of company stock valued at $5,852,848. 0.02% of the stock is owned by insiders.

Analyst Ratings Changes

ACN has been the topic of several analyst reports. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and upped their target price for the stock from $370.00 to $420.00 in a report on Friday, December 6th. JPMorgan Chase & Co. increased their target price on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. UBS Group lifted their price objective on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, BMO Capital Markets raised their price objective on Accenture from $390.00 to $425.00 and gave the company 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 given a buy rating to the stock. According to MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and a consensus price target of $383.74.

Accenture Trading Up 2.9 %

ACN opened at $372.99 on Tuesday. The stock’s 50 day moving average price is $357.37 and its 200-day moving average price is $348.01. Accenture plc has a one year low of $278.69 and a one year high of $387.51. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market cap of $233.41 billion, a price-to-earnings ratio of 31.29, a P/E/G ratio of 3.20 and a beta of 1.24.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping the consensus estimate of $3.43 by $0.16. The company had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $3.27 EPS. On average, equities analysts forecast that Accenture plc will post 12.69 EPS for the current year.

Accenture Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, January 16th will be issued a dividend of $1.48 per share. The ex-dividend date is Thursday, January 16th. This represents a $5.92 annualized dividend and a dividend yield of 1.59%. Accenture’s dividend payout ratio (DPR) is presently 49.66%.

Accenture Profile

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.