Legacy Capital Group California Inc. Has $380,000 Stock Position in Accenture plc (NYSE:ACN)

Legacy Capital Group California Inc. lifted its holdings in shares of Accenture plc (NYSE:ACN) by 11.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,076 shares of the information technology services provider’s stock after buying an additional 108 shares during the period. Legacy Capital Group California Inc.’s holdings in Accenture were worth $380,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Annapolis Financial Services LLC raised its holdings in shares of Accenture by 507.7% during the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after buying an additional 66 shares in the last quarter. Unique Wealth Strategies LLC bought a new stake in Accenture during the 2nd quarter worth $26,000. Mowery & Schoenfeld Wealth Management LLC grew its position in 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 worth $35,000 after acquiring an additional 85 shares during the last quarter. CarsonAllaria Wealth Management Ltd. bought a new stake in Accenture during the 1st quarter worth $35,000. Finally, Creekmur Asset Management LLC grew its position in Accenture by 108.0% during the 1st quarter. Creekmur Asset Management LLC now owns 104 shares of the information technology services provider’s stock worth $36,000 after acquiring an additional 54 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Activity at Accenture

In related news, insider Angela Beatty sold 673 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $372.18, for a total transaction of $250,477.14. Following the completion of the sale, the insider now directly owns 5,650 shares of the company’s stock, valued at approximately $2,102,817. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Accenture news, insider Angela Beatty sold 673 shares of the stock in a transaction on Tuesday, October 22nd. The stock was 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 of the company’s stock, valued at approximately $2,102,817. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Joel Unruch sold 4,750 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $369.97, for a total value of $1,757,357.50. Following the transaction, the general counsel now directly owns 22,976 shares of the company’s stock, valued at approximately $8,500,430.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,971 shares of company stock valued at $9,330,113. 0.07% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on ACN. Piper Sandler Companies restated a “neutral” rating and set a $329.00 price objective on shares of Accenture in a research report on Friday, September 20th. Mizuho boosted their price objective on Accenture from $352.00 to $365.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. reduced their price objective on Accenture from $376.00 to $370.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 24th. Susquehanna upped their price target on Accenture from $350.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. Finally, UBS Group upped their price target on Accenture from $400.00 to $415.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Accenture currently has a consensus rating of “Moderate Buy” and a consensus price target of $371.18.

Accenture Stock Down 0.9 %

Shares of Accenture stock opened at $360.87 on Friday. The company has a market cap of $226.15 billion, a PE ratio of 33.05, a price-to-earnings-growth ratio of 3.47 and a beta of 1.25. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51. The business has a 50 day moving average price of $349.56 and a 200-day moving average price of $322.81.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $2.79 EPS for the quarter, topping the consensus estimate of $2.78 by $0.01. The firm had revenue of $16.41 billion during the quarter, compared to the consensus estimate of $16.37 billion. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.71 earnings per share. As a group, research analysts anticipate that Accenture plc will post 12.79 EPS for the current year.

Accenture declared that its Board of Directors has authorized a stock repurchase plan 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 plans are usually an indication that the company’s management believes its shares are undervalued.

Accenture Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 10th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.64%. This is an increase 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 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.