Mcdonald Partners LLC Sells 149 Shares of Accenture plc (NYSE:ACN)

Mcdonald Partners LLC cut its stake in Accenture plc (NYSE:ACN) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 0.9% of Mcdonald Partners LLC’s investment portfolio, making the stock its 28th largest holding. Mcdonald Partners LLC’s holdings in Accenture were worth $3,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Morse Asset Management Inc acquired a new stake in shares of Accenture during the third quarter worth $25,000. MidAtlantic Capital Management Inc. bought a new stake in Accenture during the third quarter valued at $30,000. POM Investment Strategies LLC grew its holdings in Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 34 shares during the period. Retirement Wealth Solutions LLC bought a new position in shares of Accenture in the 4th quarter worth about $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its stake in shares of Accenture by 607.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 85 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Activity

In related news, CEO Julie Spellman Sweet sold 8,793 shares of Accenture stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the sale, the chief executive officer now owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. This trade represents a 42.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Joel Unruch sold 4,750 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $362.78, for a total transaction of $1,723,205.00. Following the transaction, the general counsel now 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 sold 22,280 shares of company stock valued at $8,316,190 in the last three months. Company insiders own 0.02% of the company’s stock.

Accenture Stock Performance

Shares of ACN opened at $387.99 on Tuesday. The stock has a 50 day moving average of $365.85 and a 200 day moving average of $354.87. The company has a market capitalization of $242.80 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 3.44 and a beta of 1.24. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. 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 released its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The company had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business posted $3.27 EPS. As a group, sell-side analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Jefferies Financial Group lowered their target price on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. BNP Paribas lowered shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective for the company. in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Robert W. Baird reaffirmed a “neutral” rating and issued a $370.00 price target on shares of Accenture in a research note on Tuesday, December 3rd. Finally, StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Accenture has an average rating of “Moderate Buy” and a consensus target price of $387.22.

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.