Kentucky Retirement Systems Sells 237 Shares of Accenture plc (NYSE:ACN)

Kentucky Retirement Systems lowered its position in Accenture plc (NYSE:ACN) by 0.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 47,379 shares of the information technology services provider’s stock after selling 237 shares during the period. Kentucky Retirement Systems’ holdings in Accenture were worth $14,375,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Accenture by 1.1% in the first quarter. Vanguard Group Inc. now owns 59,718,732 shares of the information technology services provider’s stock valued at $20,699,110,000 after buying an additional 635,349 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Accenture by 1.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,912,962 shares of the information technology services provider’s stock worth $3,311,102,000 after purchasing an additional 131,544 shares during the period. Capital Research Global Investors increased its holdings in Accenture by 2.0% during the 1st quarter. Capital Research Global Investors now owns 8,652,537 shares of the information technology services provider’s stock worth $2,999,056,000 after purchasing an additional 173,107 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Accenture by 4.1% in the 1st quarter. Lazard Asset Management LLC now owns 3,797,028 shares of the information technology services provider’s stock valued at $1,316,086,000 after purchasing an additional 148,738 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Accenture by 6.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,044,810 shares of the information technology services provider’s stock worth $1,055,362,000 after buying an additional 178,003 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Activity

In related news, CFO Kathleen R. Mcclure sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.22, for a total transaction of $927,660.00. Following the transaction, the chief financial officer now directly owns 40,070 shares of the company’s stock, valued at $12,390,445.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Accenture news, CFO Kathleen R. Mcclure sold 1,500 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $315.00, for a total transaction of $472,500.00. Following the transaction, the chief financial officer now owns 38,570 shares in the company, valued at approximately $12,149,550. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Kathleen R. Mcclure sold 3,000 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the sale, the chief financial officer now owns 40,070 shares of the company’s stock, valued at $12,390,445.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,421 shares of company stock valued at $6,912,635. 0.07% of the stock is owned by company insiders.

Accenture Stock Down 0.3 %

Shares of NYSE:ACN opened at $336.17 on Thursday. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51. The business has a 50 day moving average of $330.75 and a 200-day moving average of $322.68. The stock has a market cap of $210.68 billion, a PE ratio of 30.78, a P/E/G ratio of 3.82 and a beta of 1.24.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The firm had revenue of $16.47 billion during the quarter, compared to analyst estimates of $16.55 billion. During the same period in the prior year, the company earned $3.19 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. Equities research analysts expect that Accenture plc will post 11.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ACN. Mizuho lifted their target price on Accenture from $352.00 to $365.00 and gave the company an “outperform” rating in a research report on Wednesday. Citigroup boosted their price objective on shares of Accenture from $350.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday. Bank of America decreased their target price on shares of Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. TD Cowen increased their price objective on shares of Accenture from $293.00 to $321.00 and gave the stock a “hold” rating in a research note on Thursday, September 12th. Finally, Stifel Nicolaus lowered their target price on Accenture from $395.00 to $340.00 and set a “buy” rating on the stock in a research report on Wednesday, June 12th. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $355.59.

Accenture Company 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.