Magnolia Private Wealth LLC Acquires New Shares in Accenture plc (NYSE:ACN)

Magnolia Private Wealth LLC bought a new position in shares of Accenture plc (NYSE:ACN) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,152 shares of the information technology services provider’s stock, valued at approximately $405,000.

Several other institutional investors also recently bought and sold shares of the stock. BSW Wealth Partners increased its stake in shares of Accenture by 0.7% during the third quarter. BSW Wealth Partners now owns 4,077 shares of the information technology services provider’s stock worth $1,441,000 after purchasing an additional 28 shares during the period. Newbridge Financial Services Group Inc. grew its position in shares of Accenture by 5.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock worth $182,000 after purchasing an additional 28 shares in the last quarter. FPC Investment Advisory Inc. increased its holdings in shares of Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 28 shares during the period. Tradition Wealth Management LLC boosted its stake in shares of Accenture by 0.3% in the third quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock valued at $3,871,000 after buying an additional 29 shares during the period. Finally, New England Professional Planning Group Inc. grew its position in Accenture by 4.6% during the fourth quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock worth $230,000 after buying an additional 29 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Jefferies Financial Group cut their target price on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. UBS Group increased their price objective on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Morgan Stanley boosted their target price on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. BNP Paribas downgraded shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective for the company. in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and lifted their price target for the company from $370.00 to $420.00 in a research note on Friday, December 6th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and an average target price of $387.22.

Accenture Trading Down 0.2 %

NYSE:ACN opened at $363.22 on Wednesday. The firm has a fifty day simple moving average of $367.73 and a two-hundred day simple moving average of $357.32. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The stock has a market capitalization 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 company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last issued its earnings results 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 business had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. During the same period in the previous year, the company posted $3.27 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. Analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Insider Activity at Accenture

In related news, CAO Melissa A. Burgum sold 1,487 shares of Accenture stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total transaction of $527,200.98. Following the transaction, the chief accounting officer now owns 9,247 shares of the company’s stock, valued at $3,278,431.38. The trade was a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the transaction, the insider now directly owns 5,149 shares in the company, valued at $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is owned by company insiders.

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.