New York State Common Retirement Fund Has $308.70 Million Stock Holdings in Accenture plc (NYSE:ACN)

New York State Common Retirement Fund lessened its position in Accenture plc (NYSE:ACN) by 1.0% during the 4th quarter, Holdings Channel reports. The firm owned 877,509 shares of the information technology services provider’s stock after selling 8,932 shares during the quarter. New York State Common Retirement Fund’s holdings in Accenture were worth $308,699,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Baldwin Wealth Partners LLC MA boosted its stake in shares of Accenture by 6.5% in the 4th 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. lifted its position in Accenture by 7.4% during the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock worth $812,000 after buying an additional 158 shares in the last quarter. Schrum Private Wealth Management LLC lifted its position in Accenture by 78.6% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock worth $4,047,000 after buying an additional 5,038 shares in the last quarter. MQS Management LLC acquired a new position in Accenture during the 3rd quarter worth about $1,040,000. Finally, Concurrent Investment Advisors LLC lifted its position 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 buying an additional 14,724 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Activity

In related news, CAO Melissa A. Burgum sold 1,487 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total value of $527,200.98. Following the completion of the transaction, the chief accounting officer now directly owns 9,247 shares of the company’s stock, valued at approximately $3,278,431.38. This trade represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of the transaction, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This represents a 42.58 % 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 worth $8,316,190 over the last ninety days. Insiders own 0.02% of the company’s stock.

Accenture Stock Performance

Shares of ACN stock opened at $387.12 on Wednesday. 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 $242.26 billion, a P/E ratio of 32.48, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. The company’s 50 day moving average price is $366.33 and its two-hundred day moving average price is $355.32. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35.

Accenture (NYSE:ACN) 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 analysts’ consensus estimates of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. During the same period last year, the company earned $3.27 earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year. On average, analysts expect that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. BNP Paribas downgraded shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target on the stock. in a research report on Wednesday, October 30th. BMO Capital Markets upped their target price on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and upped their target price for the company from $370.00 to $420.00 in a research report on Friday, December 6th. Piper Sandler upped their target price on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. upped their target price on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.