Legacy Financial Advisors Inc. Trims Stake in Accenture plc (NYSE:ACN)

Legacy Financial Advisors Inc. trimmed its stake in Accenture plc (NYSE:ACN) by 3.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,689 shares of the information technology services provider’s stock after selling 149 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Accenture were worth $1,119,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ACN. Accretive Wealth Partners LLC raised its holdings in Accenture by 2.3% in the 4th quarter. Accretive Wealth Partners LLC now owns 2,171 shares of the information technology services provider’s stock valued at $762,000 after acquiring an additional 48 shares during the last quarter. Aveo Capital Partners LLC increased its stake in Accenture by 7.6% in the fourth quarter. Aveo Capital Partners LLC now owns 2,264 shares of the information technology services provider’s stock valued at $794,000 after purchasing an additional 160 shares during the last quarter. 9258 Wealth Management LLC lifted its position in Accenture by 3.6% during the fourth quarter. 9258 Wealth Management LLC now owns 1,308 shares of the information technology services provider’s stock worth $459,000 after buying an additional 46 shares during the period. Gryphon Financial Partners LLC boosted its stake in Accenture by 79.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,535 shares of the information technology services provider’s stock worth $881,000 after buying an additional 1,123 shares during the last quarter. Finally, TrinityPoint Wealth LLC grew its holdings in Accenture by 3.6% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock valued at $1,279,000 after buying an additional 125 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Accenture

In other Accenture news, CFO Kathleen R. Mcclure sold 3,000 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.22, for a total transaction of $927,660.00. Following the completion of the sale, the chief financial officer now owns 40,070 shares in the company, valued at $12,390,445.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the completion of the transaction, the insider now directly owns 8,989 shares in the company, valued at approximately $2,964,751.98. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Kathleen R. Mcclure sold 3,000 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the completion of the sale, the chief financial officer now owns 40,070 shares in the company, valued at $12,390,445.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,421 shares of company stock valued at $6,912,635. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the topic of several research analyst reports. Bank of America decreased their target price on shares of Accenture from $419.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Barclays dropped their price objective on Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a report on Monday, June 17th. TD Cowen lifted their target price on Accenture from $293.00 to $321.00 and gave the company a “hold” rating in a report on Thursday, September 12th. Guggenheim restated a “buy” rating and set a $395.00 price target on shares of Accenture in a research note on Friday, May 24th. Finally, Morgan Stanley cut Accenture from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $382.00 to $300.00 in a report on Wednesday, June 26th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $356.41.

Accenture Price Performance

ACN opened at $336.22 on Friday. The stock has a market capitalization of $210.71 billion, a PE ratio of 30.79, a P/E/G ratio of 3.82 and a beta of 1.24. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51. The firm’s fifty day moving average price is $332.01 and its 200 day moving average price is $322.44.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share for the quarter, missing the consensus estimate of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The firm had revenue of $16.47 billion during the quarter, compared to the consensus estimate of $16.55 billion. During the same period in the prior year, the firm earned $3.19 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities research analysts forecast that Accenture plc will post 11.95 earnings per share for the current fiscal year.

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.