Accenture plc (NYSE:ACN) Holdings Lowered by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in Accenture plc (NYSE:ACN - Free Report) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 877,509 shares of the information technology services provider's stock after selling 8,932 shares during the quarter. New York State Common Retirement Fund owned approximately 0.14% of Accenture worth $308,699,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Masso Torrence Wealth Management Inc. grew its holdings in shares of Accenture by 2.0% during the 3rd quarter. Masso Torrence Wealth Management Inc. now owns 1,447 shares of the information technology services provider's stock worth $511,000 after purchasing an additional 28 shares during the period. BSW Wealth Partners grew its holdings in shares of Accenture by 0.7% during the 3rd quarter. BSW Wealth Partners now owns 4,077 shares of the information technology services provider's stock worth $1,441,000 after purchasing an additional 28 shares during the period. Newbridge Financial Services Group Inc. grew its holdings in shares of Accenture by 5.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider's stock worth $182,000 after purchasing an additional 28 shares during the period. Tradition Wealth Management LLC grew its holdings in shares of Accenture by 0.3% during the 3rd quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider's stock worth $3,871,000 after purchasing an additional 29 shares during the period. Finally, TCW Group Inc. grew its holdings in shares of Accenture by 0.3% during the 3rd quarter. TCW Group Inc. now owns 11,501 shares of the information technology services provider's stock worth $4,065,000 after purchasing an additional 30 shares during the period. Hedge funds and other institutional investors own 75.14% of the company's stock.

Insider Transactions at Accenture

In related news, insider Angela Beatty sold 375 shares of the firm's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the transaction, the insider now owns 5,149 shares of the company's stock, valued at $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the firm's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the transaction, the chief executive officer now directly owns 11,858 shares of the company's stock, valued at $4,677,625.26. This represents a 42.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ACN has been the subject of a number of analyst reports. BNP Paribas cut Accenture from an "outperform" rating to a "neutral" rating and set a $375.00 price target for the company. in a report on Wednesday, October 30th. Morgan Stanley upped their price target on Accenture from $335.00 to $380.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. Jefferies Financial Group decreased their price target on Accenture from $385.00 to $355.00 and set a "hold" rating for the company in a report on Tuesday, January 21st. StockNews.com upgraded Accenture from a "hold" rating to a "buy" rating in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. upped their target price on Accenture from $370.00 to $396.00 and gave the company an "overweight" rating in a research report on Monday, December 16th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $387.22.

Accenture Stock Performance

ACN traded down $20.49 during trading on Friday, reaching $364.35. 3,747,836 shares of the company were exchanged, compared to its average volume of 2,728,130. The stock has a market cap of $228.00 billion, a P/E ratio of 30.57, a PEG ratio of 3.46 and a beta of 1.24. The firm has a 50 day moving average of $367.37 and a 200 day moving average of $355.77. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last issued its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping analysts' consensus estimates of $3.43 by $0.16. The firm had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm's revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the business earned $3.27 EPS. On average, sell-side analysts forecast that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Company 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.