Legacy Wealth Asset Management LLC lessened its stake in shares of Accenture plc (NYSE:ACN – Free Report) by 4.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,558 shares of the information technology services provider’s stock after selling 480 shares during the period. Accenture accounts for approximately 1.0% of Legacy Wealth Asset Management LLC’s portfolio, making the stock its 11th biggest position. Legacy Wealth Asset Management LLC’s holdings in Accenture were worth $3,714,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of ACN. Morse Asset Management Inc purchased a new stake in shares of Accenture in the 3rd quarter valued at approximately $25,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Accenture during the third quarter worth $30,000. Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of Accenture by 607.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 85 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Accenture in the 3rd quarter valued at $39,000. Finally, Reston Wealth Management LLC acquired a new position in Accenture during the 3rd quarter worth about $51,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.
Accenture Price Performance
Shares of ACN opened at $350.92 on Friday. The firm has a fifty day moving average price of $357.85 and a 200 day moving average price of $344.97. The stock has a market cap of $219.60 billion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 3.11 and a beta of 1.24. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51. 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 Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, January 16th will be given a $1.48 dividend. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $5.92 annualized dividend and a yield of 1.69%. Accenture’s dividend payout ratio (DPR) is 49.66%.
Accenture declared that its board has initiated a stock repurchase program on Thursday, September 26th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the information technology services provider to purchase up to 1.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
Analyst Ratings Changes
A number of analysts have issued reports on the stock. BMO Capital Markets boosted their price target on shares of Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Piper Sandler upped their target price on shares of Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a research report on Wednesday, January 8th. Barclays upped their price objective on Accenture from $350.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Finally, Bank of America lifted their target price on Accenture from $365.00 to $388.00 and gave the company a “buy” rating in a report on Friday, September 27th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Accenture presently has a consensus rating of “Moderate Buy” and an average target price of $385.04.
View Our Latest Report on Accenture
Insider Buying and Selling
In related news, General Counsel Joel Unruch sold 4,750 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $369.97, for a total transaction of $1,757,357.50. Following the completion of the sale, the general counsel now directly owns 22,976 shares of the company’s stock, valued at $8,500,430.72. This trade represents a 17.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Angela Beatty sold 673 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $372.18, for a total transaction of $250,477.14. Following the completion of the transaction, the insider now directly owns 5,650 shares in the company, valued at $2,102,817. This represents a 10.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,125 shares of company stock worth $9,570,260 in the last 90 days. Company insiders own 0.02% of the company’s stock.
Accenture Company 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.
Further Reading
- Five stocks we like better than Accenture
- Unveiling The Power Of VWAP: A Key Indicator For Traders
- Cerence AI: One-Hit Wonder or Long-Term Winner After NVIDIA Pact?
- The Top 3 Healthcare Dividend Stocks to Buy and Hold
- UnitedHealth Group Pulls Back Into Another Healthy Opportunity
- What Are Some of the Best Large-Cap Stocks to Buy?
- Micron Technology: Riding the AI Wave to Long-Term Growth
Receive News & Ratings for Accenture Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture and related companies with MarketBeat.com's FREE daily email newsletter.