Accenture plc (NYSE:ACN) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp raised its holdings in shares of Accenture plc (NYSE:ACN) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,205,969 shares of the information technology services provider’s stock after buying an additional 51,387 shares during the period. Accenture comprises 1.0% of Mackenzie Financial Corp’s investment portfolio, making the stock its 21st largest position. Mackenzie Financial Corp owned 0.35% of Accenture worth $669,313,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Accretive Wealth Partners LLC lifted its stake in shares of Accenture by 2.3% during the fourth quarter. Accretive Wealth Partners LLC now owns 2,171 shares of the information technology services provider’s stock worth $762,000 after purchasing an additional 48 shares in the last quarter. Aveo Capital Partners LLC raised its stake in shares of Accenture by 7.6% during the fourth quarter. Aveo Capital Partners LLC now owns 2,264 shares of the information technology services provider’s stock valued at $794,000 after purchasing an additional 160 shares during the period. 9258 Wealth Management LLC lifted its position in shares of Accenture by 3.6% during the fourth quarter. 9258 Wealth Management LLC now owns 1,308 shares of the information technology services provider’s stock worth $459,000 after purchasing an additional 46 shares in the last quarter. Gryphon Financial Partners LLC grew its holdings in Accenture by 79.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,535 shares of the information technology services provider’s stock valued at $881,000 after purchasing an additional 1,123 shares in the last quarter. Finally, Avestar Capital LLC increased its stake in Accenture by 23.2% during the 4th quarter. Avestar Capital LLC now owns 2,297 shares of the information technology services provider’s stock worth $806,000 after buying an additional 432 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Jefferies Financial Group lowered their target price on Accenture from $340.00 to $275.00 and set a “hold” rating for the company in a research note on Wednesday, June 5th. Bank of America dropped their price objective on Accenture from $419.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. JPMorgan Chase & Co. reduced their target price on Accenture from $376.00 to $370.00 and set an “overweight” rating for the company in a research note on Tuesday. UBS Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and set a $400.00 price target for the company in a research note on Friday, July 19th. Finally, Piper Sandler Companies reiterated a “neutral” rating and set a $329.00 price objective on shares of Accenture in a research note on Friday, September 20th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $359.14.

Insider Buying and Selling at Accenture

In related news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total value of $1,649,100.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Kathleen R. Mcclure sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the completion of the sale, the chief financial officer now directly owns 40,070 shares of the company’s stock, valued at approximately $12,390,445.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total value of $1,649,100.00. Following the sale, the insider now directly owns 8,989 shares in the company, valued at approximately $2,964,751.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,421 shares of company stock worth $6,912,635. 0.07% of the stock is owned by company insiders.

Accenture Stock Up 5.6 %

ACN stock opened at $355.81 on Friday. The stock has a market cap of $222.98 billion, a PE ratio of 32.58, a price-to-earnings-growth ratio of 3.69 and a beta of 1.24. The firm’s 50-day simple moving average is $333.51 and its 200 day simple moving average is $321.39. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $387.51.

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

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.