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Accenture plc (NYSE:ACN) Shares Purchased by California Public Employees Retirement System

Accenture logo with Computer and Technology background

California Public Employees Retirement System lifted its position in Accenture plc (NYSE:ACN - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,828,325 shares of the information technology services provider's stock after buying an additional 93,040 shares during the period. California Public Employees Retirement System owned about 0.29% of Accenture worth $643,186,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Accenture during the fourth quarter valued at about $2,351,683,000. Raymond James Financial Inc. purchased a new position in shares of Accenture during the 4th quarter valued at about $666,495,000. Swedbank AB grew its stake in shares of Accenture by 47.5% during the 4th quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider's stock valued at $1,324,029,000 after acquiring an additional 1,212,011 shares during the period. Proficio Capital Partners LLC increased its holdings in Accenture by 51,837.3% in the 4th quarter. Proficio Capital Partners LLC now owns 860,601 shares of the information technology services provider's stock worth $302,751,000 after acquiring an additional 858,944 shares in the last quarter. Finally, Amundi boosted its position in shares of Accenture by 27.9% in the fourth quarter. Amundi now owns 3,790,069 shares of the information technology services provider's stock worth $1,353,909,000 after purchasing an additional 826,038 shares during the period. Institutional investors own 75.14% of the company's stock.

Insider Activity at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the sale, the chief executive officer now owns 11,858 shares in the company, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Angela Beatty sold 961 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $354.47, for a total transaction of $340,645.67. Following the sale, the insider now owns 5,484 shares of the company's stock, valued at $1,943,913.48. This trade represents a 14.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,905 shares of company stock worth $8,181,753. 0.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ACN has been the subject of several recent analyst reports. Baird R W raised shares of Accenture from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. JPMorgan Chase & Co. upped their price objective on Accenture from $370.00 to $396.00 and gave the stock an "overweight" rating in a research note on Monday, December 16th. Piper Sandler cut their price objective on shares of Accenture from $396.00 to $364.00 and set an "overweight" rating for the company in a report on Thursday, March 20th. StockNews.com lowered Accenture from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Finally, Morgan Stanley cut their price target on Accenture from $380.00 to $372.00 and set an "equal weight" rating for the company in a report on Monday, March 17th. 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 company. Based on data from MarketBeat.com, Accenture presently has a consensus rating of "Moderate Buy" and an average target price of $378.23.

Read Our Latest Analysis on ACN

Accenture Stock Performance

Shares of ACN stock traded down $10.96 during trading hours on Thursday, hitting $305.37. The company's stock had a trading volume of 1,560,316 shares, compared to its average volume of 2,932,024. The stock has a market cap of $191.26 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. The company has a 50 day moving average of $352.46 and a 200 day moving average of $355.28. 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 12-month low of $278.69 and a 12-month high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last posted its 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. The business had revenue of $16.70 billion for the quarter, compared to analyst estimates of $16.64 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.77 EPS. On average, sell-side analysts forecast that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.94%. The ex-dividend date is Thursday, April 10th. Accenture's dividend payout ratio (DPR) is presently 48.89%.

Accenture Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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