Sage Mountain Advisors LLC Has $2.23 Million Holdings in Accenture plc (NYSE:ACN)

Sage Mountain Advisors LLC raised its holdings in shares of Accenture plc (NYSE:ACN) by 45.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,334 shares of the information technology services provider’s stock after acquiring an additional 1,971 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Accenture were worth $2,228,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Baldwin Wealth Partners LLC MA grew its stake in Accenture by 6.5% during the 4th 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 acquiring an additional 3,883 shares in the last quarter. Davidson Trust Co. lifted its holdings in shares of 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 during the last quarter. Schrum Private Wealth Management LLC lifted its holdings in shares of Accenture by 78.6% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock valued at $4,047,000 after buying an additional 5,038 shares during the last quarter. MQS Management LLC acquired a new stake in shares of Accenture during the 3rd quarter valued at about $1,040,000. Finally, Franklin Street Advisors Inc. NC lifted its holdings in shares of Accenture by 126.8% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 40,051 shares of the information technology services provider’s stock valued at $14,090,000 after buying an additional 22,391 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Stock Performance

ACN opened at $335.34 on Tuesday. The stock has a market cap of $209.85 billion, a PE ratio of 28.13, a P/E/G 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 plc has a 1 year low of $278.69 and a 1 year high of $398.35. The stock’s 50 day simple moving average is $365.40 and its 200-day simple moving average is $358.67.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share 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 firm had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. During the same period in the prior year, the business posted $3.27 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. Sell-side analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ACN shares. 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 report on Friday, December 6th. Stifel Nicolaus reduced their target price on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Morgan Stanley boosted their target price on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Jefferies Financial Group reduced 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. Finally, Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price for the company in a report on Wednesday, January 8th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Accenture has an average rating of “Moderate Buy” and a consensus price target of $388.96.

Insider Buying and Selling at Accenture

In other Accenture news, General Counsel Joel Unruch sold 4,750 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $362.78, for a total value of $1,723,205.00. Following the sale, the general counsel now directly owns 20,526 shares in the company, valued at $7,446,422.28. This represents a 18.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Angela Beatty sold 375 shares of the 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 sale, the insider now owns 5,149 shares in the company, valued at $1,845,916.50. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock worth $8,316,190 over the last three months. Company insiders own 0.02% of the company’s stock.

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.