KMG Fiduciary Partners LLC Buys 29 Shares of Accenture plc (NYSE:ACN)

KMG Fiduciary Partners LLC boosted its stake in Accenture plc (NYSE:ACNFree Report) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 760 shares of the information technology services provider’s stock after acquiring an additional 29 shares during the period. KMG Fiduciary Partners LLC’s holdings in Accenture were worth $267,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Accenture by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 58,434,025 shares of the information technology services provider’s stock worth $17,945,673,000 after buying an additional 184,541 shares in the last quarter. State Street Corp lifted its holdings in shares of Accenture by 0.7% in the 2nd quarter. State Street Corp now owns 26,644,296 shares of the information technology services provider’s stock worth $8,221,897,000 after purchasing an additional 190,412 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Accenture by 14.9% in the 4th quarter. Morgan Stanley now owns 16,642,841 shares of the information technology services provider’s stock worth $4,440,976,000 after purchasing an additional 2,163,582 shares in the last quarter. FMR LLC lifted its holdings in shares of Accenture by 4.4% in the 3rd quarter. FMR LLC now owns 13,316,028 shares of the information technology services provider’s stock worth $4,089,485,000 after purchasing an additional 565,505 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Accenture by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 11,816,701 shares of the information technology services provider’s stock worth $3,636,842,000 after purchasing an additional 353,521 shares in the last quarter. 70.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on ACN. BMO Capital Markets increased their price target on Accenture from $350.00 to $385.00 and gave the company a “market perform” rating in a research report on Wednesday, December 20th. BNP Paribas raised Accenture from a “neutral” rating to an “outperform” rating and set a $440.00 target price for the company in a research report on Wednesday, January 17th. Robert W. Baird raised their target price on Accenture from $364.00 to $375.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th. Citigroup raised their target price on Accenture from $385.00 to $430.00 and gave the company a “buy” rating in a research report on Friday. Finally, UBS Group raised their target price on Accenture from $365.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $384.38.

Check Out Our Latest Analysis on Accenture

Accenture Price Performance

Shares of Accenture stock opened at $373.11 on Tuesday. The business’s 50 day simple moving average is $369.22 and its two-hundred day simple moving average is $339.32. The stock has a market capitalization of $234.06 billion, a P/E ratio of 34.54, a price-to-earnings-growth ratio of 3.47 and a beta of 1.20. Accenture plc has a one year low of $250.01 and a one year high of $387.51.

Accenture (NYSE:ACNGet Free Report) last announced its quarterly earnings results on Tuesday, December 19th. The information technology services provider reported $3.27 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.13. Accenture had a return on equity of 29.08% and a net margin of 10.65%. The business had revenue of $16.22 billion for the quarter, compared to analysts’ expectations of $16.17 billion. During the same period in the previous year, the firm earned $3.08 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. Sell-side analysts expect that Accenture plc will post 12.21 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Joel Unruch sold 4,333 shares of Accenture stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $371.83, for a total transaction of $1,611,139.39. Following the sale, the general counsel now directly owns 34,795 shares in the company, valued at $12,937,824.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Accenture news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $371.81, for a total value of $1,859,050.00. Following the sale, the insider now directly owns 20,316 shares of the company’s stock, valued at $7,553,691.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Joel Unruch sold 4,333 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $371.83, for a total value of $1,611,139.39. Following the completion of the sale, the general counsel now directly owns 34,795 shares in the company, valued at $12,937,824.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,551 shares of company stock valued at $9,739,791. Company insiders own 0.07% of the company’s stock.

Accenture Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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