Magnolia Private Wealth LLC Buys Shares of 1,152 Accenture plc (NYSE:ACN)

Magnolia Private Wealth LLC purchased a new position in Accenture plc (NYSE:ACN) during the fourth quarter, Holdings Channel.com reports. The fund purchased 1,152 shares of the information technology services provider’s stock, valued at approximately $405,000.

Other hedge funds have also recently made changes to their positions in the company. Baldwin Wealth Partners LLC MA lifted its position in shares of Accenture by 6.5% during the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock worth $22,314,000 after acquiring an additional 3,883 shares in the last quarter. Davidson Trust Co. lifted its holdings in Accenture by 7.4% during the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock worth $812,000 after purchasing an additional 158 shares in the last quarter. Schrum Private Wealth Management LLC boosted its stake in Accenture by 78.6% in the 3rd quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock worth $4,047,000 after purchasing an additional 5,038 shares during the period. MQS Management LLC purchased a new stake in shares of Accenture in the third quarter worth about $1,040,000. Finally, Concurrent Investment Advisors LLC boosted its position in shares of Accenture by 70.6% in the third quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock valued at $12,581,000 after acquiring an additional 14,724 shares during the period. 75.14% of the stock is currently owned by institutional investors.

Accenture Price Performance

Shares of ACN stock opened at $363.22 on Wednesday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The stock has a market cap of $227.30 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 3.23 and a beta of 1.24. The business’s fifty day moving average is $367.73 and its 200 day moving average is $357.32. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.16. The company had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. Accenture’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $3.27 EPS. Research analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on ACN shares. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a research report on Wednesday, January 8th. BNP Paribas cut shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective on the stock. in a research report on Wednesday, October 30th. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and increased their price target for the stock from $370.00 to $420.00 in a report on Friday, December 6th. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Finally, Morgan Stanley boosted their target price on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $387.22.

Insider Activity at Accenture

In other news, General Counsel Joel Unruch sold 4,750 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $362.78, for a total value of $1,723,205.00. Following the completion of the transaction, the general counsel now owns 20,526 shares in the company, valued at $7,446,422.28. The trade was a 18.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Angela Beatty sold 375 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the sale, the insider now directly owns 5,149 shares in the company, valued at $1,845,916.50. This trade represents 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 valued at $8,316,190 in the last 90 days. Corporate insiders own 0.02% of the company’s stock.

Accenture Company 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.