Mission Wealth Management LP raised its stake in Accenture Plc (NYSE:ACN) by 20.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,302 shares of the information technology services provider’s stock after purchasing an additional 570 shares during the quarter. Mission Wealth Management LP’s holdings in Accenture were worth $506,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Capital Research Global Investors raised its holdings in shares of Accenture by 2.2% during the second quarter. Capital Research Global Investors now owns 28,501,643 shares of the information technology services provider’s stock valued at $3,525,083,000 after acquiring an additional 605,156 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Accenture by 54.1% during the fourth quarter. Wells Fargo & Company MN now owns 6,977,987 shares of the information technology services provider’s stock valued at $1,068,260,000 after acquiring an additional 2,450,772 shares in the last quarter. Independent Franchise Partners LLP raised its holdings in shares of Accenture by 3.7% during the third quarter. Independent Franchise Partners LLP now owns 6,293,362 shares of the information technology services provider’s stock valued at $850,044,000 after acquiring an additional 222,828 shares in the last quarter. WCM Investment Management CA raised its holdings in shares of Accenture by 5.9% during the fourth quarter. WCM Investment Management CA now owns 5,280,182 shares of the information technology services provider’s stock valued at $808,343,000 after acquiring an additional 291,858 shares in the last quarter. Finally, Polen Capital Management LLC raised its holdings in shares of Accenture by 1.4% during the fourth quarter. Polen Capital Management LLC now owns 4,940,069 shares of the information technology services provider’s stock valued at $756,275,000 after acquiring an additional 67,052 shares in the last quarter. Hedge funds and other institutional investors own 75.58% of the company’s stock.
Accenture Plc (NYSE ACN) traded down $1.49 during midday trading on Wednesday, hitting $161.00. The stock had a trading volume of 2,210,000 shares, compared to its average volume of 2,390,000. Accenture Plc has a 52-week low of $114.82 and a 52-week high of $165.58. The stock has a market capitalization of $103,460.00, a PE ratio of 28.55, a P/E/G ratio of 2.43 and a beta of 1.01.
Accenture (NYSE:ACN) last released its earnings results on Thursday, December 21st. The information technology services provider reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.12. Accenture had a return on equity of 41.79% and a net margin of 9.43%. The firm had revenue of $9.52 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the prior year, the firm posted $1.58 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. equities analysts expect that Accenture Plc will post 6.65 earnings per share for the current year.
In related news, insider Richard Lumb sold 2,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $155.34, for a total transaction of $310,680.00. Following the sale, the insider now directly owns 121,041 shares of the company’s stock, valued at $18,802,508.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Johan Deblaere sold 55,000 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $154.24, for a total value of $8,483,200.00. Following the sale, the chief operating officer now directly owns 112,208 shares in the company, valued at $17,306,961.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 117,249 shares of company stock worth $18,106,228. Insiders own 0.21% of the company’s stock.
A number of brokerages recently commented on ACN. Pivotal Research set a $180.00 target price on Accenture and gave the company a “buy” rating in a report on Tuesday, February 20th. Cowen restated a “buy” rating and set a $175.00 target price on shares of Accenture in a report on Friday, January 12th. Morgan Stanley upgraded Accenture from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $159.00 to $140.00 in a report on Monday, February 5th. Citigroup restated a “hold” rating and set a $159.00 target price on shares of Accenture in a report on Friday, December 22nd. Finally, Bank of America increased their price objective on Accenture from $150.00 to $171.00 in a report on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Accenture has an average rating of “Hold” and an average price target of $156.57.
Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.
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