Arizona State Retirement System Has $63.77 Million Stock Holdings in Accenture plc (NYSE:ACN)

Arizona State Retirement System grew its position in shares of Accenture plc (NYSE:ACN - Free Report) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 181,260 shares of the information technology services provider's stock after buying an additional 1,661 shares during the quarter. Arizona State Retirement System's holdings in Accenture were worth $63,765,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Baldwin Wealth Partners LLC MA increased its holdings in shares of Accenture by 6.5% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider's stock valued at $22,314,000 after purchasing an additional 3,883 shares in the last quarter. Davidson Trust Co. increased its holdings in shares of Accenture by 7.4% in the fourth quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider's stock valued at $812,000 after purchasing an additional 158 shares in the last quarter. Schrum Private Wealth Management LLC increased its holdings in shares of Accenture by 78.6% in the third quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider's stock valued at $4,047,000 after purchasing an additional 5,038 shares in the last quarter. MQS Management LLC acquired a new stake in shares of Accenture in the third quarter valued at approximately $1,040,000. Finally, Concurrent Investment Advisors LLC grew its holdings in Accenture by 70.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider's stock worth $12,581,000 after acquiring an additional 14,724 shares during the period. 75.14% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

ACN has been the subject of a number of analyst reports. Robert W. Baird reaffirmed a "neutral" rating and set a $370.00 target price on shares of Accenture in a report on Tuesday, December 3rd. Jefferies Financial Group lowered their target price on shares of Accenture from $385.00 to $355.00 and set a "hold" rating for the company in a report on Tuesday, January 21st. UBS Group lifted their target price on shares of Accenture from $450.00 to $455.00 and gave the stock a "buy" rating in a report on Friday, December 20th. Piper Sandler lifted their target price on shares of Accenture from $422.00 to $429.00 and gave the stock an "overweight" rating in a report on Thursday, December 19th. Finally, Morgan Stanley lifted their target price on shares of Accenture from $335.00 to $380.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Accenture has an average rating of "Moderate Buy" and an average target price of $388.96.

Insiders Place Their Bets

In other Accenture news, CFO Angie Y. Park sold 685 shares of the business's stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the sale, the chief financial officer now directly owns 8,674 shares of the company's stock, valued at $3,073,892.12. The trade was a 7.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Angela Beatty sold 375 shares of the business'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 sale, 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. Insiders have sold 22,280 shares of company stock valued at $8,316,190 in the last three months. 0.02% of the stock is currently owned by corporate insiders.

Accenture Stock Down 0.0 %

ACN traded down $0.16 during trading on Friday, hitting $341.68. The company had a trading volume of 4,459,862 shares, compared to its average volume of 2,708,053. The company has a market capitalization of $213.82 billion, a PE ratio of 28.66, a PEG ratio of 3.23 and a beta of 1.24. Accenture plc has a one year low of $278.69 and a one year high of $398.35. The firm's 50-day moving average price is $365.74 and its 200 day moving average price is $358.46. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN - Get Free Report) last issued its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping the consensus estimate of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm had revenue of $17.69 billion for the quarter, compared to analysts' expectations of $17.15 billion. During the same period in the previous year, the firm posted $3.27 EPS. The company's revenue for the quarter was up 9.0% on a year-over-year basis. As a group, equities analysts expect that Accenture plc will post 12.73 earnings per share for the current year.

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.