New York State Teachers Retirement System Sells 16,099 Shares of Accenture plc (NYSE:ACN)

New York State Teachers Retirement System decreased its position in Accenture plc (NYSE:ACN - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 549,047 shares of the information technology services provider's stock after selling 16,099 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of Accenture worth $193,149,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Morse Asset Management Inc acquired a new stake in shares of Accenture during the 3rd quarter worth approximately $25,000. MidAtlantic Capital Management Inc. acquired a new stake in Accenture in the third quarter worth $30,000. POM Investment Strategies LLC raised its holdings in shares of Accenture by 64.2% during the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider's stock valued at $31,000 after purchasing an additional 34 shares during the period. Retirement Wealth Solutions LLC bought a new position in shares of Accenture during the 4th quarter worth about $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC increased its position in Accenture by 607.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider's stock valued at $35,000 after buying an additional 85 shares in the last quarter. Institutional investors own 75.14% of the company's stock.

Accenture Stock Performance

Shares of Accenture stock traded down $0.88 during trading hours on Tuesday, hitting $387.12. 3,701,062 shares of the company's stock traded hands, compared to its average volume of 2,752,295. The company has a fifty day simple moving average of $365.85 and a 200-day simple moving average of $354.87. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market capitalization of $242.26 billion, a price-to-earnings ratio of 32.48, a PEG ratio of 3.44 and a beta of 1.24. 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, 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 business had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. During the same quarter in the previous year, the firm posted $3.27 earnings per share. The company's revenue for the quarter was up 9.0% on a year-over-year basis. Equities research analysts anticipate that Accenture plc will post 12.73 EPS for the current fiscal year.

Insider Buying and Selling at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 2,497 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.48, for a total transaction of $885,136.56. Following the completion of the transaction, the chief executive officer now owns 28,866 shares in the company, valued at $10,232,419.68. This trade represents a 7.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Melissa A. Burgum sold 1,487 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the completion of the sale, the chief accounting officer now directly owns 9,247 shares in the company, valued at approximately $3,278,431.38. This trade represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,280 shares of company stock valued at $8,316,190. Company insiders own 0.02% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. The Goldman Sachs Group upgraded Accenture from a "neutral" rating to a "buy" rating and increased their price target for the stock from $370.00 to $420.00 in a report on Friday, December 6th. Robert W. Baird reissued a "neutral" rating and issued a $370.00 price target on shares of Accenture in a research report on Tuesday, December 3rd. Jefferies Financial Group lowered their price objective on shares of Accenture from $385.00 to $355.00 and set a "hold" rating on the stock in a report on Tuesday, January 21st. Morgan Stanley lifted their price objective on shares of Accenture from $335.00 to $380.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. Finally, Piper Sandler upped 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. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $387.22.

About Accenture

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.