Leo Wealth LLC Has $1.16 Million Stake in Accenture PLC (NYSE:ACN)

by · The Cerbat Gem

Leo Wealth LLC decreased its holdings in Accenture PLC (NYSE:ACN – Free Report) by 3.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,716 shares of the information technology services provider’s stock after selling 116 shares during the quarter. Leo Wealth LLC’s holdings in Accenture were worth $1,159,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Accenture by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 60,394,657 shares of the information technology services provider’s stock worth $21,246,236,000 after purchasing an additional 392,183 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Accenture by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 13,528,348 shares of the information technology services provider’s stock valued at $4,750,021,000 after purchasing an additional 136,665 shares during the last quarter. Capital Research Global Investors lifted its holdings in Accenture by 16.8% during the 4th quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider’s stock valued at $4,325,526,000 after purchasing an additional 1,770,024 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Accenture by 22.8% during the fourth quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider’s stock worth $4,283,225,000 after buying an additional 2,260,740 shares in the last quarter. Finally, Capital International Investors lifted its holdings in shares of Accenture by 2.2% during the fourth quarter. Capital International Investors now owns 8,513,140 shares of the information technology services provider’s stock worth $2,994,922,000 after buying an additional 181,449 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ACN. Barclays decreased their price target on Accenture from $390.00 to $360.00 and set an “overweight” rating on the stock in a research report on Monday, June 23rd. Robert W. Baird raised Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price objective on the stock in a research note on Monday, March 17th. Guggenheim cut their price objective on Accenture from $360.00 to $335.00 and set a “buy” rating on the stock in a research note on Monday, June 23rd. Baird R W raised Accenture from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Finally, Piper Sandler lowered their target price on Accenture from $364.00 to $355.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $370.71.

Read Our Latest Analysis on Accenture

Insider Activity at Accenture

In other news, COO John F. Walsh sold 2,500 shares of the company’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total value of $812,500.00. Following the sale, the chief operating officer owned 15,882 shares in the company, valued at $5,161,650. This represents a 13.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.02% of the stock is owned by insiders.

Accenture Stock Down 2.5%

Accenture stock opened at $281.01 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. The business’s 50-day simple moving average is $309.00 and its two-hundred day simple moving average is $326.89. The company has a market cap of $176.00 billion, a PE ratio of 22.37, a PEG ratio of 2.64 and a beta of 1.29. Accenture PLC has a fifty-two week low of $273.19 and a fifty-two week high of $398.35.

Accenture (NYSE:ACN – Get Free Report) last issued its earnings results on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.32 by $0.17. Accenture had a return on equity of 26.55% and a net margin of 11.61%. The firm had revenue of $17.73 billion for the quarter, compared to the consensus estimate of $17.26 billion. During the same quarter in the prior year, the business earned $3.13 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. Equities analysts anticipate that Accenture PLC will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 10th will be paid a $1.48 dividend. The ex-dividend date is Thursday, July 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 2.11%. Accenture’s payout ratio is 47.13%.

Accenture Company Profile

(Free Report)

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.

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