MGB Wealth Management LLC Has $371,000 Stock Position in Accenture plc (NYSE:ACN)

MGB Wealth Management LLC increased its holdings in shares of Accenture plc (NYSE:ACN) by 27.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,053 shares of the information technology services provider’s stock after buying an additional 228 shares during the quarter. MGB Wealth Management LLC’s holdings in Accenture were worth $371,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baldwin Wealth Partners LLC MA boosted its stake in shares of Accenture by 6.5% in the 4th quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock valued at $22,314,000 after purchasing an additional 3,883 shares in the last quarter. Schrum Private Wealth Management LLC boosted its position in Accenture by 78.6% in the third quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock valued at $4,047,000 after buying an additional 5,038 shares in the last quarter. MQS Management LLC bought a new stake in shares of Accenture during the third quarter worth $1,040,000. Concurrent Investment Advisors LLC increased its holdings in shares of Accenture by 70.6% during the third quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock worth $12,581,000 after buying an additional 14,724 shares in the last quarter. Finally, M&G PLC lifted its stake in shares of Accenture by 34.1% in the 3rd quarter. M&G PLC now owns 292,808 shares of the information technology services provider’s stock valued at $103,361,000 after acquiring an additional 74,438 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Accenture Stock Performance

NYSE:ACN opened at $388.85 on Thursday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. The company has a fifty day moving average of $363.57 and a 200-day moving average of $353.18. The firm has a market capitalization of $243.34 billion, a P/E ratio of 32.62, a P/E/G ratio of 3.44 and a beta of 1.24.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $17.15 billion. During the same quarter last year, the firm posted $3.27 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Accenture plc will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, January 16th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Thursday, January 16th. Accenture’s payout ratio is currently 49.66%.

Insider Activity at Accenture

In related news, General Counsel Joel Unruch sold 4,750 shares of the business’s stock in a transaction dated 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 transaction, the general counsel now directly owns 20,526 shares of the company’s stock, valued at approximately $7,446,422.28. The trade was a 18.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the sale, the chief executive officer now owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This trade represents a 42.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock valued at $8,316,190 over the last ninety days. Corporate insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on ACN shares. Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price for the company in a research report on Wednesday, January 8th. Morgan Stanley raised their price objective on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Jefferies Financial Group reduced their target price on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Piper Sandler raised their price target on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Finally, BMO Capital Markets boosted their price objective on shares of Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Accenture currently has an average rating of “Moderate Buy” and an average price target of $387.22.

About Accenture

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.