Kentucky Retirement Systems Sells 593 Shares of Accenture plc (NYSE:ACN)

Kentucky Retirement Systems cut its position in Accenture plc (NYSE:ACN) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,044 shares of the information technology services provider’s stock after selling 593 shares during the quarter. Kentucky Retirement Systems’ holdings in Accenture were worth $15,142,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Morse Asset Management Inc bought a new position in shares of Accenture in the third quarter valued at $25,000. MidAtlantic Capital Management Inc. bought a new position in shares of Accenture in the third quarter valued at $30,000. POM Investment Strategies LLC grew its stake in shares of Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 34 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in Accenture during the fourth quarter worth $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its position in Accenture by 607.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 85 shares during the period. 75.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ACN. UBS Group lifted their price objective on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Morgan Stanley lifted their price objective on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. BMO Capital Markets lifted their target price on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Finally, BNP Paribas downgraded Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and an average price target of $387.22.

Insider Buying and Selling at Accenture

In other news, CFO Angie Y. Park sold 685 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $354.38, for a total transaction of $242,750.30. Following the transaction, the chief financial officer now directly owns 8,674 shares of the company’s stock, valued at $3,073,892.12. This represents a 7.32 % 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, insider Angela Beatty sold 375 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the transaction, the insider now directly owns 5,149 shares in the company, valued at $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is currently owned by company insiders.

Accenture Stock Performance

Shares of ACN stock opened at $385.06 on Friday. The business’s 50 day simple moving average is $367.37 and its 200 day simple moving average is $355.77. Accenture plc has a one year low of $278.69 and a one year high of $398.35. The stock has a market capitalization of $240.97 billion, a PE ratio of 32.30, a PEG ratio of 3.44 and a beta of 1.24. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47.

Accenture (NYSE:ACN) last announced its earnings results 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. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. During the same period in the prior year, the business posted $3.27 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. As a group, research analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

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.