Accenture plc (NYSE:ACN) Position Boosted by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of Accenture plc (NYSE:ACN - Free Report) by 21.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,513 shares of the information technology services provider's stock after acquiring an additional 3,967 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Accenture were worth $7,920,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Masso Torrence Wealth Management Inc. raised its stake 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 acquiring an additional 28 shares in the last quarter. BSW Wealth Partners raised its stake 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 acquiring an additional 28 shares in the last quarter. Newbridge Financial Services Group Inc. increased its stake in 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 valued at $182,000 after purchasing an additional 28 shares in the last quarter. Tradition Wealth Management LLC increased its stake in 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 valued at $3,871,000 after purchasing an additional 29 shares in the last quarter. Finally, TCW Group Inc. increased its stake in Accenture by 0.3% during the 3rd quarter. TCW Group Inc. now owns 11,501 shares of the information technology services provider's stock valued at $4,065,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 75.14% of the company's stock.

Insider Activity

In other Accenture news, insider Angela Beatty sold 375 shares of Accenture stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Melissa A. Burgum sold 232 shares of Accenture stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total transaction of $91,514.72. Following the sale, the chief accounting officer now owns 8,915 shares of the company's stock, valued at approximately $3,516,610.90. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock worth $8,316,190 over the last three months. Insiders own 0.02% of the company's stock.

Accenture Stock Performance

NYSE ACN traded down $20.49 during mid-day trading on Friday, reaching $364.35. 3,747,836 shares of the stock were exchanged, compared to its average volume of 2,728,130. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market capitalization of $228.00 billion, a P/E ratio of 30.57, a P/E/G ratio of 3.46 and a beta of 1.24. Accenture plc has a 1 year low of $278.69 and a 1 year high of $398.35. The business's 50 day moving average is $367.48 and its 200-day moving average is $356.12.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Piper Sandler upped their price target on shares of Accenture from $422.00 to $429.00 and gave the company an "overweight" rating in a research note on Thursday, December 19th. UBS Group upped their price target on shares of Accenture from $450.00 to $455.00 and gave the company a "buy" rating in a research note on Friday, December 20th. The Goldman Sachs Group upgraded shares of Accenture from a "neutral" rating to a "buy" rating and upped their price target for the company from $370.00 to $420.00 in a research note on Friday, December 6th. BNP Paribas lowered shares of Accenture from an "outperform" rating to a "neutral" rating and set a $375.00 price target on the stock. in a research note on Wednesday, October 30th. Finally, BMO Capital Markets upped their price target on shares of Accenture from $390.00 to $425.00 and gave the company a "market perform" rating in a research note on Friday, December 20th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $387.22.

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.