My Legacy Advisors LLC Has $402,000 Stock Holdings in Accenture plc (NYSE:ACN)

My Legacy Advisors LLC trimmed its holdings in Accenture plc (NYSE:ACN) by 15.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,136 shares of the information technology services provider’s stock after selling 202 shares during the quarter. My Legacy Advisors LLC’s holdings in Accenture were worth $402,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ACN. Unique Wealth Strategies LLC bought a new stake in shares of Accenture in the second quarter valued at approximately $26,000. Annapolis Financial Services LLC lifted its position in Accenture by 507.7% in the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 66 shares during the period. Strategic Financial Concepts LLC bought a new position in Accenture in the second quarter worth $28,000. CarsonAllaria Wealth Management Ltd. bought a new position in Accenture in the first quarter worth $35,000. Finally, Tsfg LLC lifted its position in Accenture by 267.9% in the first quarter. Tsfg LLC now owns 103 shares of the information technology services provider’s stock worth $36,000 after purchasing an additional 75 shares during the period. 75.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ACN. UBS Group raised their target price on Accenture from $400.00 to $415.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. cut their price objective on Accenture from $376.00 to $370.00 and set an “overweight” rating for the company in a report on Tuesday, September 24th. Royal Bank of Canada lifted their price objective on Accenture from $377.00 to $389.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Piper Sandler raised Accenture from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $329.00 to $395.00 in a report on Thursday, September 26th. Finally, Barclays lifted their price objective on Accenture from $350.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $371.18.

Accenture Stock Down 1.2 %

Shares of ACN stock opened at $371.69 on Wednesday. The stock has a 50-day moving average price of $347.76 and a 200 day moving average price of $322.19. The firm has a market cap of $232.94 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 3.47 and a beta of 1.25. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.01. The firm had revenue of $16.41 billion during the quarter, compared to analyst estimates of $16.37 billion. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the company earned $2.71 earnings per share. Sell-side analysts predict that Accenture plc will post 12.79 earnings per share for the current fiscal year.

Accenture Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 10th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.59%. This is a positive change from Accenture’s previous quarterly dividend of $1.29. The ex-dividend date of this dividend is Thursday, October 10th. Accenture’s dividend payout ratio (DPR) is presently 54.21%.

Accenture declared that its board has authorized a stock buyback plan on Thursday, September 26th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 1.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Accenture news, CFO Kathleen R. Mcclure sold 5,090 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $373.22, for a total transaction of $1,899,689.80. Following the transaction, the chief financial officer now owns 38,825 shares in the company, valued at approximately $14,490,266.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Julie Spellman Sweet sold 9,000 shares of Accenture stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $376.16, for a total transaction of $3,385,440.00. Following the transaction, the chief executive officer now owns 20,324 shares in the company, valued at $7,645,075.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kathleen R. Mcclure sold 5,090 shares of Accenture stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $373.22, for a total value of $1,899,689.80. Following the transaction, the chief financial officer now owns 38,825 shares in the company, valued at $14,490,266.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,548 shares of company stock worth $7,322,278. 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.