New Mexico Educational Retirement Board Decreases Stock Holdings in Accenture plc (NYSE:ACN)

New Mexico Educational Retirement Board lessened its holdings in Accenture plc (NYSE:ACN - Free Report) by 2.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,850 shares of the information technology services provider's stock after selling 900 shares during the period. New Mexico Educational Retirement Board's holdings in Accenture were worth $10,501,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ACN. Quadrant Private Wealth Management LLC grew its stake in Accenture by 10.6% in the 4th quarter. Quadrant Private Wealth Management LLC now owns 1,296 shares of the information technology services provider's stock worth $456,000 after buying an additional 124 shares in the last quarter. Adell Harriman & Carpenter Inc. grew its position in Accenture by 3.4% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 1,484 shares of the information technology services provider's stock worth $522,000 after acquiring an additional 49 shares in the last quarter. Banque Pictet & Cie SA raised its position in Accenture by 48.7% during the fourth quarter. Banque Pictet & Cie SA now owns 45,951 shares of the information technology services provider's stock valued at $16,165,000 after purchasing an additional 15,054 shares in the last quarter. W.H. Cornerstone Investments Inc. lifted its stake in Accenture by 32.2% during the fourth quarter. W.H. Cornerstone Investments Inc. now owns 2,138 shares of the information technology services provider's stock worth $752,000 after purchasing an additional 521 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its holdings in shares of Accenture by 7.5% in the 4th quarter. V Square Quantitative Management LLC now owns 14,900 shares of the information technology services provider's stock worth $5,242,000 after purchasing an additional 1,035 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Stock Up 0.8 %

Shares of NYSE:ACN traded up $3.16 during trading on Wednesday, hitting $390.72. The stock had a trading volume of 1,438,004 shares, compared to its average volume of 2,711,225. The company has a market capitalization of $244.51 billion, a PE ratio of 32.78, a PEG ratio of 3.44 and a beta of 1.24. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm's fifty day moving average is $366.33 and its 200 day moving average is $355.32. 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 announced its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating the consensus estimate of $3.43 by $0.16. The business had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company's revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.27 earnings per share. Analysts anticipate that Accenture plc will post 12.73 EPS for the current fiscal year.

Insiders Place Their Bets

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 value of $134,437.50. Following the completion of the transaction, the insider now directly owns 5,149 shares of the company's stock, valued at approximately $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Melissa A. Burgum sold 232 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $3,516,610.90. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ACN has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on Accenture from $335.00 to $380.00 and gave the stock an "equal weight" rating in a research report on Friday, January 31st. Piper Sandler upped their price objective 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. Robert W. Baird reiterated a "neutral" rating and issued a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. 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 report on Friday, December 20th. Finally, Wolfe Research upgraded Accenture from a "peer perform" rating to an "outperform" rating and set a $425.00 price objective on the stock in a report on Wednesday, January 8th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Accenture has an average rating of "Moderate Buy" and an average price target of $387.22.

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.