Picton Mahoney Asset Management Acquires 376 Shares of Accenture plc (NYSE:ACN)

Picton Mahoney Asset Management increased its holdings in Accenture plc (NYSE:ACN) by 12,533.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 379 shares of the information technology services provider’s stock after buying an additional 376 shares during the period. Picton Mahoney Asset Management’s holdings in Accenture were worth $133,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Baldwin Wealth Partners LLC MA grew its position in shares of Accenture by 6.5% in the fourth 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. Davidson Trust Co. grew its holdings in Accenture by 7.4% during the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock valued at $812,000 after buying an additional 158 shares in the last quarter. Franklin Street Advisors Inc. NC lifted its holdings in shares of Accenture by 126.8% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 40,051 shares of the information technology services provider’s stock worth $14,090,000 after buying an additional 22,391 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Accenture by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,823,754 shares of the information technology services provider’s stock valued at $1,705,100,000 after acquiring an additional 56,937 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its stake in Accenture by 37.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,094 shares of the information technology services provider’s stock valued at $1,088,000 after acquiring an additional 843 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 11,858 shares in the company, valued at $4,677,625.26. This trade represents a 42.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Angela Beatty sold 375 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the sale, the insider now directly owns 5,149 shares in the company, valued at approximately $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 have sold 22,280 shares of company stock valued at $8,316,190. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

ACN has been the subject of several analyst reports. Piper Sandler cut their price target on shares of Accenture from $429.00 to $396.00 and set an “overweight” rating for the company in a report on Friday. Morgan Stanley lifted their price objective on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a report on Wednesday, January 8th. BMO Capital Markets boosted their price objective on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Finally, Jefferies Financial Group dropped their target price on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Nine investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Accenture has a consensus rating of “Moderate Buy” and a consensus target price of $387.52.

Accenture Stock Performance

Shares of NYSE:ACN opened at $318.28 on Monday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $363.01 and a 200-day moving average price of $358.24. The company has a market cap of $199.17 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $17.15 billion. During the same quarter last year, the business posted $3.27 EPS. The business’s revenue was up 9.0% on a year-over-year basis. As a group, equities analysts anticipate that Accenture plc will post 12.73 EPS for the current year.

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.