MGO One Seven LLC Has $1.84 Million Stock Position in Accenture plc (NYSE:ACN)

MGO One Seven LLC grew its stake in Accenture plc (NYSE:ACN - Free Report) by 25.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,235 shares of the information technology services provider's stock after buying an additional 1,052 shares during the period. MGO One Seven LLC's holdings in Accenture were worth $1,842,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Quantessence Capital LLC acquired a new position in Accenture during the fourth quarter valued at approximately $2,487,000. Alta Advisers Ltd raised its holdings in Accenture by 21.6% in the 4th quarter. Alta Advisers Ltd now owns 2,068 shares of the information technology services provider's stock worth $728,000 after acquiring an additional 368 shares during the period. Manchester Global Management UK Ltd lifted its position in Accenture by 47.7% during the 4th quarter. Manchester Global Management UK Ltd now owns 58,285 shares of the information technology services provider's stock worth $20,504,000 after acquiring an additional 18,813 shares during the last quarter. Harvest Investment Services LLC grew its position in shares of Accenture by 47.4% in the fourth quarter. Harvest Investment Services LLC now owns 2,097 shares of the information technology services provider's stock valued at $738,000 after purchasing an additional 674 shares during the last quarter. Finally, Fayez Sarofim & Co lifted its position in shares of Accenture by 6.2% during the 4th quarter. Fayez Sarofim & Co now owns 43,568 shares of the information technology services provider's stock worth $15,327,000 after purchasing an additional 2,546 shares during the last quarter. Institutional investors own 75.14% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on ACN shares. 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 research report on Wednesday, January 8th. StockNews.com lowered shares of Accenture from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Royal Bank of Canada reduced their price target on shares of Accenture from $399.00 to $392.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Guggenheim dropped their price objective on shares of Accenture from $400.00 to $395.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Finally, Jefferies Financial Group reduced their target price on shares of Accenture from $385.00 to $355.00 and set a "hold" rating for the company in a research note on Tuesday, January 21st. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $377.82.

Insider Buying and Selling

In other news, insider Angela Beatty sold 169 shares of the firm's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.90, for a total value of $47,641.10. Following the completion of the transaction, the insider now owns 5,364 shares in the company, valued at $1,512,111.60. This trade represents a 3.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Julie Spellman Sweet sold 2,284 shares of the business's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.63, for a total value of $643,242.92. Following the transaction, the chief executive officer now directly owns 9,965 shares in the company, valued at $2,806,442.95. This trade represents a 18.65 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,041 shares of company stock valued at $5,254,956. Company insiders own 0.02% of the company's stock.

Accenture Trading Down 0.7 %

Shares of NYSE ACN traded down $2.02 during midday trading on Wednesday, reaching $296.45. 723,358 shares of the stock were exchanged, compared to its average volume of 2,981,646. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. Accenture plc has a 12 month low of $275.01 and a 12 month high of $398.35. The business has a 50-day simple moving average of $312.46 and a two-hundred day simple moving average of $346.22. The company has a market capitalization of $185.68 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 3.23 and a beta of 1.32.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.01. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $16.70 billion during the quarter, compared to the consensus estimate of $16.64 billion. During the same period in the prior year, the company earned $2.77 earnings per share. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, equities research analysts expect that Accenture plc will post 12.73 EPS for the current year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 10th will be issued a dividend of $1.48 per share. The ex-dividend date is Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 2.00%. Accenture's payout ratio is 48.89%.

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.