Leo Wealth LLC Purchases New Stake in Accenture PLC $ACN

Leo Wealth LLC acquired a new position in Accenture PLC (NYSE:ACN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,674 shares of the information technology services provider’s stock, valued at approximately $674,000.

A number of other institutional investors also recently made changes to their positions in ACN. Bank of America Corp DE grew its holdings in shares of Accenture by 2.2% during the 1st quarter. Bank of America Corp DE now owns 6,531,231 shares of the information technology services provider’s stock valued at $1,295,078,000 after purchasing an additional 143,483 shares during the last quarter. First Trust Advisors LP lifted its stake in Accenture by 120.0% in the first quarter. First Trust Advisors LP now owns 3,482,150 shares of the information technology services provider’s stock worth $690,475,000 after purchasing an additional 1,899,305 shares during the last quarter. Flossbach Von Storch SE bought a new stake in Accenture in the second quarter worth $309,873,000. Pzena Investment Management LLC boosted its position in 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 buying an additional 1,097,961 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Accenture by 24.3% during the first quarter. The Manufacturers Life Insurance Company now owns 2,384,954 shares of the information technology services provider’s stock valued at $472,913,000 after buying an additional 466,452 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ACN shares. Wolfe Research lifted their price objective on Accenture from $165.00 to $215.00 and gave the stock an “outperform” rating in a report on Tuesday, August 25th. Deutsche Bank Aktiengesellschaft increased their target price on Accenture from $136.00 to $175.00 and gave the company a “hold” rating in a report on Friday, September 18th. BMO Capital Markets set a $235.00 price target on Accenture in a research report on Friday, October 2nd. Susquehanna lifted their price target on Accenture from $210.00 to $230.00 and gave the stock a “neutral” rating in a research note on Thursday, October 15th. Finally, Royal Bank Of Canada boosted their price objective on Accenture from $175.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, October 2nd. Ten equities research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Accenture presently has an average rating of “Hold” and a consensus target price of $221.07.

Accenture Stock Performance

Accenture stock opened at $247.26 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31. The firm has a market cap of $146.14 billion, a P/E ratio of 18.23, a P/E/G ratio of 1.92 and a beta of 1.11. Accenture PLC has a 1-year low of $118.15 and a 1-year high of $291.09. The firm has a 50-day moving average of $195.83 and a 200-day moving average of $193.24.

Accenture (NYSE:ACN) last announced its quarterly earnings results 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 company 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%. Accenture’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.03 EPS. Accenture has set its FY 2027 guidance at 14.390-14.810 EPS. Sell-side analysts expect that Accenture PLC will post 14.68 EPS for the current year.

Accenture Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 13th will be given a $1.71 dividend. The ex-dividend date is Tuesday, October 13th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.8%. This is an increase from Accenture’s previous quarterly dividend of $1.63. Accenture’s dividend payout ratio is 50.44%.

Insiders Place Their Bets

In related news, CEO Ryoji Sekido sold 5,844 shares of the company’s stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $244.84, for a total transaction of $1,430,844.96. Following the completion of the transaction, the chief executive officer owned 1,194 shares in the company, valued at $292,338.96. This represents a 83.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Melissa Burgum sold 811 shares of the company’s stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $250.00, for a total value of $202,750.00. Following the transaction, the chief accounting officer owned 9,820 shares of the company’s stock, valued at approximately $2,455,000. This represents a 7.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 19,173 shares of company stock valued at $3,758,527 over the last three months. 0.02% of the stock is currently owned by corporate insiders.

Accenture Profile

Accenture plc is a global professional services company that helps organizations transform their businesses through consulting, technology and managed services. Its work spans strategy and consulting, technology implementation, operations, and interactive customer experiences.

The company provides services in areas including cloud computing, artificial intelligence, cybersecurity, data and analytics, digital engineering, enterprise software, systems integration and business process outsourcing.