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

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

Other large investors have also recently modified their holdings of the company. Morse Asset Management Inc bought a new stake in shares of Accenture during the 3rd quarter valued at about $25,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Accenture during the 3rd quarter valued at about $30,000. POM Investment Strategies LLC raised its holdings in shares of Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 34 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Accenture during the 4th quarter valued at about $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of Accenture by 607.1% during the 3rd 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. Institutional investors own 75.14% of the company’s stock.

Accenture Price Performance

ACN opened at $387.99 on Friday. The stock has a fifty day simple moving average of $365.29 and a two-hundred day simple moving average of $354.11. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The company has a market cap of $242.80 billion, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35.

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

Accenture Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, January 16th were paid a $1.48 dividend. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.53%. Accenture’s dividend payout ratio is currently 49.66%.

Insider Transactions at Accenture

In other news, CAO Melissa A. Burgum sold 232 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the sale, the chief accounting officer now directly owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. This represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the sale, the chief executive officer now directly owns 11,858 shares in the company, valued at approximately $4,677,625.26. This represents a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,280 shares of company stock valued at $8,316,190. Insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ACN. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. 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. Robert W. Baird reaffirmed a “neutral” rating and issued a $370.00 price target on shares of Accenture in a research note on Tuesday, December 3rd. Morgan Stanley boosted their price objective on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Finally, Piper Sandler boosted their price objective on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued 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 an average 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.