MBB Public Markets I LLC Has $13.60 Million Position in Accenture plc (NYSE:ACN)

MBB Public Markets I LLC boosted its holdings in shares of Accenture plc (NYSE:ACN) by 1,431.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,818 shares of the information technology services provider’s stock after acquiring an additional 41,892 shares during the quarter. MBB Public Markets I LLC’s holdings in Accenture were worth $13,598,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Pin Oak Investment Advisors Inc. raised its position in Accenture by 8.2% during the 4th quarter. Pin Oak Investment Advisors Inc. now owns 357 shares of the information technology services provider’s stock worth $125,000 after purchasing an additional 27 shares during the last quarter. IronBridge Private Wealth LLC boosted its holdings in Accenture by 2.3% in the fourth quarter. IronBridge Private Wealth LLC now owns 1,235 shares of the information technology services provider’s stock valued at $433,000 after acquiring an additional 28 shares during the last quarter. Kolinsky Wealth Management LLC increased its position in Accenture by 1.0% during the 4th quarter. Kolinsky Wealth Management LLC now owns 2,888 shares of the information technology services provider’s stock valued at $1,013,000 after purchasing an additional 30 shares during the period. Walled Lake Planning & Wealth Management LLC lifted its position in shares of Accenture by 0.3% in the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 11,740 shares of the information technology services provider’s stock worth $4,120,000 after purchasing an additional 32 shares during the period. Finally, West Paces Advisors Inc. increased its position in shares of Accenture by 10.2% during the first quarter. West Paces Advisors Inc. now owns 346 shares of the information technology services provider’s stock worth $120,000 after buying an additional 32 shares during the period. Institutional investors own 75.14% of the company’s stock.

Accenture Stock Up 5.6 %

Shares of NYSE ACN opened at $355.81 on Friday. The company has a market capitalization of $222.98 billion, a PE ratio of 32.58, a PEG ratio of 3.69 and a beta of 1.24. The stock’s 50 day moving average price is $332.96 and its 200-day moving average price is $321.15. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51.

Accenture declared that its Board of Directors has authorized a stock buyback plan on Thursday, September 26th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the completion of the sale, the insider now directly owns 8,989 shares of the company’s stock, valued at approximately $2,964,751.98. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the completion of the sale, the insider now owns 8,989 shares in the company, valued at approximately $2,964,751.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Julie Spellman Sweet sold 3,776 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.05, for a total value of $1,166,972.80. Following the transaction, the chief executive officer now directly owns 11,819 shares of the company’s stock, valued at $3,652,661.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,421 shares of company stock valued at $6,912,635. Insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wedbush decreased their price target on Accenture from $400.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, June 12th. Citigroup boosted their price target on Accenture from $350.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. The Goldman Sachs Group initiated coverage on shares of Accenture in a research report on Monday, June 24th. They set a “neutral” rating and a $335.00 price objective for the company. Mizuho increased their target price on shares of Accenture from $352.00 to $365.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th. Finally, TD Cowen upped their price objective on shares of Accenture from $293.00 to $321.00 and gave the company a “hold” rating in a report on Thursday, September 12th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Accenture has a consensus rating of “Moderate Buy” and an average price target of $359.14.

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.