Commonwealth of Pennsylvania Public School Empls Retrmt SYS Cuts Stake in Accenture plc (NYSE:ACN)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its position in Accenture plc (NYSE:ACN) by 2.6% in the fourth quarter, Holdings Channel reports. The fund owned 132,863 shares of the information technology services provider’s stock after selling 3,495 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Accenture were worth $46,740,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Swedbank AB raised its stake in shares of Accenture by 16.6% during the 3rd quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock worth $901,967,000 after buying an additional 363,401 shares during the last quarter. Meeder Asset Management Inc. boosted its position in shares of Accenture by 24.8% in the third quarter. Meeder Asset Management Inc. now owns 378 shares of the information technology services provider’s stock worth $134,000 after acquiring an additional 75 shares during the last quarter. Prospera Private Wealth LLC raised its stake in Accenture by 3.0% during the third quarter. Prospera Private Wealth LLC now owns 1,673 shares of the information technology services provider’s stock worth $591,000 after purchasing an additional 48 shares during the period. Kirtland Hills Capital Management LLC boosted its holdings in shares of Accenture by 2.4% in the 3rd quarter. Kirtland Hills Capital Management LLC now owns 4,324 shares of the information technology services provider’s stock valued at $1,528,000 after purchasing an additional 100 shares during the last quarter. Finally, Hilton Capital Management LLC increased its holdings in shares of Accenture by 2.6% during the 3rd quarter. Hilton Capital Management LLC now owns 35,900 shares of the information technology services provider’s stock worth $12,690,000 after buying an additional 923 shares during the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Stock Up 0.1 %

Shares of Accenture stock opened at $324.52 on Thursday. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. The stock has a market capitalization of $203.08 billion, a price-to-earnings ratio of 27.22, a PEG 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. The business’s 50 day simple moving average is $361.19 and its 200-day simple moving average is $357.78.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. During the same quarter last year, the company earned $3.27 EPS. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities research analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

ACN has been the subject of a number of research reports. Piper Sandler lowered their price target on Accenture from $429.00 to $396.00 and set an “overweight” rating for the company in a research report on Friday, March 14th. UBS Group increased their target price on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $370.00 to $420.00 in a research report on Friday, December 6th. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a research report on Wednesday, January 8th. Finally, Robert W. Baird raised Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price objective on the stock in a research report on Monday. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $384.45.

Insider Transactions at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 1,487 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total transaction of $527,200.98. Following the completion of the transaction, the chief accounting officer now owns 9,247 shares in the company, valued at approximately $3,278,431.38. The trade was a 13.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the transaction, the insider now directly owns 5,149 shares in the company, valued at $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,280 shares of company stock worth $8,316,190. 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.