Modern Wealth Management LLC Buys 2,788 Shares of Accenture PLC $ACN

Key Points

• Modern Wealth Management LLC increased its stake in Accenture PLC by 149.3%, acquiring an additional 2,788 shares, bringing its total holdings to 4,656 shares valued at approximately $1.45 million.
• Major institutional investors like Vanguard Group and Price T Rowe Associates have also boosted their stakes in Accenture, indicating a strong interest among hedge funds.
• Accenture's recent quarterly earnings surpassed expectations with an EPS of $3.49, compared to an expected $3.32, alongside reported revenue of $17.73 billion.

Modern Wealth Management LLC raised its stake in Accenture PLC (NYSE:ACN - Free Report) by 149.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,656 shares of the information technology services provider's stock after purchasing an additional 2,788 shares during the quarter. Modern Wealth Management LLC's holdings in Accenture were worth $1,453,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Accenture by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 63,814,234 shares of the information technology services provider's stock worth $19,912,594,000 after acquiring an additional 3,419,577 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Accenture by 63.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,953,621 shares of the information technology services provider's stock worth $2,793,889,000 after acquiring an additional 3,490,569 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Accenture by 3.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,766,369 shares of the information technology services provider's stock worth $2,111,378,000 after acquiring an additional 228,939 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Accenture by 2.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,163,393 shares of the information technology services provider's stock worth $1,923,225,000 after acquiring an additional 126,548 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Accenture by 9.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,036,845 shares of the information technology services provider's stock worth $2,123,702,000 after acquiring an additional 545,109 shares during the period. 75.14% of the stock is currently owned by institutional investors.

Insider Transactions at Accenture

In other Accenture news, CEO Mauro Macchi sold 500 shares of the company's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $282.34, for a total value of $141,170.00. Following the completion of the transaction, the chief executive officer owned 2,283 shares of the company's stock, valued at $644,582.22. This represents a 17.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Julie Spellman Sweet sold 2,251 shares of the company's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $282.45, for a total value of $635,794.95. Following the completion of the transaction, the chief executive officer directly owned 8,109 shares of the company's stock, valued at approximately $2,290,387.05. The trade was a 21.73% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,954 shares of company stock valued at $834,280. Corporate insiders own 0.02% of the company's stock.

Accenture Price Performance

Accenture stock opened at $238.55 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. Accenture PLC has a 52 week low of $236.67 and a 52 week high of $398.35. The stock has a market capitalization of $149.41 billion, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 2.10 and a beta of 1.29. The stock has a fifty day moving average of $263.21 and a 200-day moving average of $293.19.

Accenture (NYSE:ACN - Get Free Report) last posted its quarterly earnings results on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, topping analysts' consensus estimates of $3.32 by $0.17. Accenture had a return on equity of 26.55% and a net margin of 11.61%.The company had revenue of $17.73 billion during the quarter, compared to analysts' expectations of $17.26 billion. During the same quarter in the previous year, the firm earned $3.13 EPS. Accenture's revenue was up 7.7% on a year-over-year basis. Accenture has set its Q4 2025 guidance at EPS. FY 2025 guidance at 12.770-12.890 EPS. On average, sell-side analysts expect that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ACN. TD Cowen reduced their price target on Accenture from $342.00 to $313.00 and set a "buy" rating for the company in a research note on Tuesday, September 9th. Benchmark restated a "mixed" rating on shares of Accenture in a research note on Friday, June 20th. Rothschild & Co Redburn downgraded Accenture from a "buy" rating to a "neutral" rating and set a $250.00 price target for the company. in a research note on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft reduced their price target on Accenture from $290.00 to $260.00 and set a "hold" rating for the company in a research note on Thursday. Finally, Morgan Stanley dropped their price objective on Accenture from $325.00 to $271.00 and set an "equal weight" rating for the company in a report on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Accenture has an average rating of "Moderate Buy" and a consensus target price of $346.92.

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.

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