Accenture plc (NYSE:ACN) is Legacy Wealth Asset Management LLC’s 10th Largest Position

Legacy Wealth Asset Management LLC grew its position in shares of Accenture plc (NYSE:ACN) by 1.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 11,270 shares of the information technology services provider’s stock after buying an additional 184 shares during the quarter. Accenture makes up approximately 1.1% of Legacy Wealth Asset Management LLC’s portfolio, making the stock its 10th largest holding. Legacy Wealth Asset Management LLC’s holdings in Accenture were worth $3,906,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Accenture by 0.3% in the third quarter. Vanguard Group Inc. now owns 58,434,025 shares of the information technology services provider’s stock valued at $17,945,673,000 after purchasing an additional 184,541 shares during the period. Wellington Management Group LLP raised its stake in Accenture by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 11,034,666 shares of the information technology services provider’s stock valued at $3,388,856,000 after acquiring an additional 720,647 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Accenture by 1.9% in the 4th quarter. Capital Research Global Investors now owns 8,479,430 shares of the information technology services provider’s stock valued at $2,975,517,000 after purchasing an additional 159,696 shares during the last quarter. Norges Bank acquired a new position in shares of Accenture in the fourth quarter valued at approximately $2,061,490,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Accenture by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,466,684 shares of the information technology services provider’s stock worth $1,556,676,000 after purchasing an additional 68,635 shares during the period. 75.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Redburn Atlantic upped their price objective on shares of Accenture from $410.00 to $445.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Mizuho reduced their price objective on shares of Accenture from $398.00 to $350.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. BMO Capital Markets dropped their target price on Accenture from $375.00 to $350.00 and set a “market perform” rating on the stock in a research report on Friday, June 21st. Morgan Stanley cut Accenture from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $382.00 to $300.00 in a report on Wednesday, June 26th. Finally, Jefferies Financial Group cut their price objective on Accenture from $340.00 to $275.00 and set a “hold” rating for the company in a research report on Wednesday, June 5th. Twelve analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $352.74.

Accenture Stock Performance

ACN stock traded up $1.92 on Thursday, reaching $305.75. The company had a trading volume of 1,751,215 shares, compared to its average volume of 4,312,141. The company’s fifty day moving average is $299.45 and its 200 day moving average is $335.28. The company has a market cap of $191.61 billion, a P/E ratio of 28.00, a PEG ratio of 3.39 and a beta of 1.23. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.15 by ($0.02). The company had revenue of $16.47 billion during the quarter, compared to analysts’ expectations of $16.55 billion. Accenture had a net margin of 10.79% and a return on equity of 27.48%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.19 earnings per share. On average, sell-side analysts predict that Accenture plc will post 11.95 earnings per share for the current year.

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th will be given a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, July 11th. Accenture’s dividend payout ratio is presently 47.25%.

Insider Activity at Accenture

In other Accenture news, CEO Jean-Marc Ollagnier sold 6,250 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $315.91, for a total value of $1,974,437.50. Following the completion of the transaction, the chief executive officer now directly owns 161,581 shares in the company, valued at approximately $51,045,053.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total value of $1,536,100.00. Following the completion of the sale, the insider now directly owns 13,699 shares in the company, valued at $4,208,606.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jean-Marc Ollagnier sold 6,250 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the transaction, the chief executive officer now directly owns 161,581 shares in the company, valued at approximately $51,045,053.71. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,083 shares of company stock valued at $6,302,285. Company insiders own 0.07% of the company’s stock.

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.