Leo Wealth LLC Decreases Stock Position in Accenture plc (NYSE:ACN)

Leo Wealth LLC cut its position in shares of Accenture plc (NYSE:ACN) by 14.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,832 shares of the information technology services provider’s stock after selling 668 shares during the period. Leo Wealth LLC’s holdings in Accenture were worth $1,348,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ACN. Morse Asset Management Inc bought a new stake in Accenture in the third quarter worth $25,000. MidAtlantic Capital Management Inc. bought a new position in shares of Accenture in the 3rd quarter valued at about $30,000. Retirement Wealth Solutions LLC purchased a new position in Accenture in the fourth quarter worth about $34,000. Mowery & Schoenfeld Wealth Management LLC raised its position in Accenture by 607.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 85 shares during the period. Finally, Berbice Capital Management LLC purchased a new position in shares of Accenture in the 4th quarter worth approximately $35,000. Institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 1,487 shares of Accenture stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total transaction of $527,200.98. Following the completion of the sale, the chief accounting officer now owns 9,247 shares of the company’s stock, valued at approximately $3,278,431.38. The trade was a 13.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the transaction, the insider now owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock worth $8,316,190 over the last three months. Corporate insiders own 0.02% of the company’s stock.

Accenture Price Performance

NYSE ACN opened at $386.71 on Friday. The company has a market cap of $242.00 billion, a PE ratio of 32.44, a P/E/G ratio of 3.43 and a beta of 1.24. Accenture plc has a 52-week low of $278.69 and a 52-week high of $398.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The firm’s 50 day moving average price is $361.34 and its 200-day moving average price is $351.40.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping the consensus estimate of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. During the same period in the previous year, the company posted $3.27 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. Sell-side analysts forecast that Accenture plc will post 12.69 EPS for the current fiscal year.

Accenture Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, January 16th will be paid a dividend of $1.48 per share. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $5.92 annualized dividend and a dividend yield of 1.53%. Accenture’s dividend payout ratio (DPR) is presently 49.66%.

Analyst Upgrades and Downgrades

Several research analysts have commented on ACN shares. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. Morgan Stanley upped their price target on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price on the stock. in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $387.22.

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.