Mcdonald Partners LLC Has $3.64 Million Stock Position in Accenture plc (NYSE:ACN)

Mcdonald Partners LLC cut its stake in shares of Accenture plc (NYSE:ACN) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,336 shares of the information technology services provider’s stock after selling 149 shares during the period. Accenture accounts for about 0.9% of Mcdonald Partners LLC’s investment portfolio, making the stock its 28th biggest holding. Mcdonald Partners LLC’s holdings in Accenture were worth $3,636,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Morse Asset Management Inc acquired a new position in Accenture during the third quarter worth $25,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Accenture during the 3rd quarter worth about $30,000. POM Investment Strategies LLC raised its holdings in shares of Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 34 shares during the period. Retirement Wealth Solutions LLC acquired a new stake in Accenture in the 4th quarter valued at about $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC increased 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 worth $35,000 after buying an additional 85 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ACN. UBS Group raised their price objective on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Morgan Stanley lifted their price objective on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. BMO Capital Markets increased their price objective on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Piper Sandler lifted their target price on shares of Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Finally, The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and increased their price target for the company from $370.00 to $420.00 in a report on Friday, December 6th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Accenture has an average rating of “Moderate Buy” and an average price target of $387.22.

Insider Buying and Selling at Accenture

In other news, insider Angela Beatty sold 375 shares of Accenture stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the sale, the insider now directly owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Joel Unruch sold 4,750 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were 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 directly owns 20,526 shares of the company’s stock, valued at $7,446,422.28. This represents a 18.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock worth $8,316,190 over the last quarter. Corporate insiders own 0.02% of the company’s stock.

Accenture Trading Down 0.4 %

Shares of ACN opened at $387.99 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. Accenture plc has a 52-week low of $278.69 and a 52-week high of $398.35. The firm has a market cap of $242.80 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 3.44 and a beta of 1.24. The business’s fifty day moving average is $365.85 and its 200-day moving average is $354.87.

Accenture (NYSE:ACN) last issued its 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 the consensus estimate of $17.15 billion. During the same quarter in the previous year, the firm earned $3.27 earnings per share. The business’s quarterly revenue was up 9.0% on a year-over-year basis. Equities analysts anticipate that Accenture plc will post 12.73 EPS 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.