My Legacy Advisors LLC Decreases Holdings in Accenture plc (NYSE:ACN)

My Legacy Advisors LLC cut its holdings in shares of Accenture plc (NYSE:ACN) by 10.7% during the 1st quarter, HoldingsChannel reports. The fund owned 942 shares of the information technology services provider’s stock after selling 113 shares during the quarter. My Legacy Advisors LLC’s holdings in Accenture were worth $294,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Visionary Wealth Advisors increased its stake in shares of Accenture by 3.5% in the fourth quarter. Visionary Wealth Advisors now owns 778 shares of the information technology services provider’s stock worth $274,000 after buying an additional 26 shares during the period. Vivaldi Capital Management LP increased its stake in shares of Accenture by 3.6% in the fourth quarter. Vivaldi Capital Management LP now owns 782 shares of the information technology services provider’s stock worth $292,000 after buying an additional 27 shares during the period. FPC Investment Advisory Inc. increased its stake in shares of Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after buying an additional 28 shares during the period. New England Professional Planning Group Inc. increased its stake in shares of Accenture by 4.6% in the fourth quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock worth $230,000 after buying an additional 29 shares during the period. Finally, Nemes Rush Group LLC increased its stake in shares of Accenture by 7.5% in the fourth quarter. Nemes Rush Group LLC now owns 418 shares of the information technology services provider’s stock worth $147,000 after buying an additional 29 shares during the period. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Accenture news, CEO Julie Spellman Sweet sold 2,284 shares of the business’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.63, for a total value of $643,242.92. Following the completion of the transaction, the chief executive officer now owns 9,965 shares of the company’s stock, valued at approximately $2,806,442.95. The trade was a 18.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Angela Beatty sold 169 shares of the business’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.90, for a total value of $47,641.10. Following the completion of the transaction, the insider now directly owns 5,364 shares of the company’s stock, valued at approximately $1,512,111.60. This trade represents a 3.05% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,516 shares of company stock valued at $2,507,366. 0.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ACN shares. Barclays decreased their target price on shares of Accenture from $415.00 to $390.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Guggenheim cut their price target on shares of Accenture from $400.00 to $395.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Stifel Nicolaus cut their price target on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Royal Bank of Canada cut their price target on shares of Accenture from $399.00 to $392.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Finally, Mizuho cut their price target on shares of Accenture from $428.00 to $398.00 and set an “outperform” rating on the stock in a report on Wednesday, March 19th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $382.14.

Accenture Stock Performance

Shares of ACN stock opened at $319.20 on Thursday. Accenture plc has a 12 month low of $275.01 and a 12 month high of $398.35. The stock has a market cap of $199.92 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 3.23 and a beta of 1.33. 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’s fifty day moving average price is $304.23 and its 200-day moving average price is $336.42.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.01. The firm had revenue of $16.70 billion during the quarter, compared to analyst estimates of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. Accenture’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.77 EPS. On average, equities analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th were given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, April 10th. Accenture’s dividend payout ratio (DPR) is 48.89%.

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.