Arizona State Retirement System Buys 1,661 Shares of Accenture plc (NYSE:ACN)

Arizona State Retirement System grew its position in Accenture plc (NYSE:ACN) by 0.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 181,260 shares of the information technology services provider’s stock after purchasing an additional 1,661 shares during the period. 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.

Other hedge funds have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. grew its stake in shares of Accenture by 5.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock valued at $182,000 after acquiring an additional 28 shares in the last quarter. FPC Investment Advisory Inc. raised its position in shares of Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 28 shares in the last quarter. Tradition Wealth Management LLC boosted its stake in shares of Accenture by 0.3% in the third quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock valued at $3,871,000 after buying an additional 29 shares during the period. New England Professional Planning Group Inc. raised its holdings in Accenture by 4.6% in the 4th quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock valued at $230,000 after acquiring an additional 29 shares in the last quarter. Finally, TCW Group Inc. grew its holdings in shares of Accenture by 0.3% during the 3rd quarter. TCW Group Inc. now owns 11,501 shares of the information technology services provider’s stock worth $4,065,000 after purchasing an additional 30 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Accenture

In related news, insider Angela Beatty sold 375 shares of Accenture stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the sale, the insider now owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Angie Y. Park sold 685 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the completion of the sale, the chief financial officer now directly owns 8,674 shares in the company, valued at approximately $3,073,892.12. This trade represents a 7.32 % 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. Insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Robert W. Baird reissued a “neutral” rating and issued a $370.00 target price on shares of Accenture in a report on Tuesday, December 3rd. JPMorgan Chase & Co. lifted their price target on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Stifel Nicolaus reduced their price objective on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Jefferies Financial Group dropped 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. Finally, StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $388.96.

Accenture Stock Up 0.2 %

Accenture stock opened at $345.84 on Wednesday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35. The firm has a market capitalization of $216.42 billion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. The firm’s fifty day moving average price is $366.68 and its two-hundred day moving average price is $358.37.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share 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 analyst estimates of $17.15 billion. During the same period last year, the firm earned $3.27 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. On average, equities research analysts predict that Accenture plc will post 12.73 earnings per share for the current fiscal 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.