8,114 Accenture PLC $ACN Shares Acquired by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC raised its stake in shares of Accenture PLC (NYSE:ACN) by 253.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,314 shares of the information technology services provider’s stock after buying an additional 8,114 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Accenture were worth $2,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of ACN. State Street Corp boosted its position in shares of Accenture by 0.5% during the fourth quarter. State Street Corp now owns 28,264,675 shares of the information technology services provider’s stock worth $7,583,462,000 after acquiring an additional 129,610 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Accenture by 1.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,393,818 shares of the information technology services provider’s stock valued at $1,447,161,000 after acquiring an additional 63,760 shares during the last quarter. Bank of America Corp DE lifted its stake in Accenture by 2.2% in the 1st quarter. Bank of America Corp DE now owns 6,531,231 shares of the information technology services provider’s stock worth $1,295,078,000 after purchasing an additional 143,483 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Accenture by 120.0% during the 1st quarter. First Trust Advisors LP now owns 3,482,150 shares of the information technology services provider’s stock valued at $690,475,000 after purchasing an additional 1,899,305 shares during the last quarter. Finally, Pzena Investment Management LLC grew its position in shares of Accenture by 84.0% during the first quarter. Pzena Investment Management LLC now owns 2,405,683 shares of the information technology services provider’s stock valued at $477,023,000 after purchasing an additional 1,097,961 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Transactions at Accenture

In other Accenture news, General Counsel Joel Unruch sold 10,498 shares of Accenture stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $162.98, for a total transaction of $1,710,964.04. Following the completion of the transaction, the general counsel directly owned 17,735 shares of the company’s stock, valued at $2,890,450.30. The trade was a 37.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is currently owned by corporate insiders.

Accenture Trading Up 6.1%

ACN opened at $208.73 on Friday. The stock has a 50-day moving average of $183.68 and a 200 day moving average of $173.44. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 0.31. Accenture PLC has a 12 month low of $118.15 and a 12 month high of $291.09. The firm has a market cap of $139.39 billion, a P/E ratio of 15.39, a P/E/G ratio of 1.62 and a beta of 1.11.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, October 1st. The information technology services provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.11. The business had revenue of $18.68 billion for the quarter, compared to the consensus estimate of $18.03 billion. Accenture had a return on equity of 26.53% and a net margin of 11.28%.The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.03 earnings per share. Accenture has set its FY 2027 guidance at 14.390-14.810 EPS. As a group, research analysts forecast that Accenture PLC will post 14.68 EPS for the current year.

Accenture announced that its board has initiated a stock buyback program on Tuesday, June 23rd that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Accenture Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 13th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 3.3%. The ex-dividend date is Tuesday, October 13th. This is a boost from Accenture’s previous quarterly dividend of $1.63. Accenture’s payout ratio is currently 50.44%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ACN shares. Citigroup boosted their target price on Accenture from $135.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, August 24th. BNP Paribas Exane reduced their price objective on Accenture from $180.00 to $130.00 and set a “neutral” rating on the stock in a research note on Friday, June 26th. Robert W. Baird set a $245.00 price objective on Accenture in a report on Thursday, October 1st. Argus increased their target price on Accenture from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, October 2nd. Finally, TD Cowen boosted their price target on shares of Accenture from $173.00 to $193.00 and gave the stock a “hold” rating in a research report on Thursday, October 1st. Eleven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $219.15.

Accenture Company Profile

Accenture plc (NYSE: ACN) is a global professional services company that helps organizations improve performance, modernize operations and respond to technological and market changes. Its services span strategy and consulting, technology, operations, and managed services, with expertise across industries including communications, financial services, health care, public service, retail, manufacturing and resources.

The company provides digital transformation, cloud migration, data and artificial intelligence, cybersecurity, systems integration and technology implementation services.