Public Sector Pension Investment Board Sells 212,850 Shares of Accenture plc (NYSE:ACN)

Public Sector Pension Investment Board reduced its position in Accenture plc (NYSE:ACN) by 89.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 24,196 shares of the information technology services provider’s stock after selling 212,850 shares during the period. Public Sector Pension Investment Board’s holdings in Accenture were worth $7,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Unique Wealth Strategies LLC bought a new stake in Accenture in the 2nd quarter valued at about $26,000. Annapolis Financial Services LLC raised its position in shares of Accenture by 507.7% in the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 66 shares during the period. Strategic Financial Concepts LLC bought a new position in Accenture in the 2nd quarter worth approximately $28,000. Ables Iannone Moore & Associates Inc. bought a new stake in Accenture during the 4th quarter valued at $29,000. Finally, Atwood & Palmer Inc. lifted its position in shares of Accenture by 214.8% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 58 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors.

Accenture Stock Performance

ACN stock opened at $339.64 on Wednesday. The company has a market capitalization of $212.85 billion, a PE ratio of 31.10, a price-to-earnings-growth ratio of 3.82 and a beta of 1.24. Accenture plc has a one year low of $278.69 and a one year high of $387.51. The company’s 50 day moving average price is $332.73 and its two-hundred day moving average price is $321.04.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Piper Sandler boosted their price objective on Accenture from $320.00 to $329.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Morgan Stanley downgraded shares of Accenture from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $382.00 to $300.00 in a report on Wednesday, June 26th. Barclays reduced their price objective on shares of Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a research note on Monday, June 17th. JPMorgan Chase & Co. cut their price target on shares of Accenture from $376.00 to $370.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, BMO Capital Markets decreased their price target on shares of Accenture from $375.00 to $350.00 and set a “market perform” rating on the stock in a report on Friday, June 21st. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $356.14.

Insider Buying and Selling

In other news, CEO Julie Spellman Sweet sold 3,776 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the transaction, the chief executive officer now directly owns 11,819 shares of the company’s stock, valued at $3,652,661.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Accenture news, CEO Julie Spellman Sweet sold 3,776 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $309.05, for a total value of $1,166,972.80. Following the completion of the sale, the chief executive officer now owns 11,819 shares in the company, valued at $3,652,661.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Joel Unruch sold 8,145 shares of Accenture stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the completion of the transaction, the general counsel now directly owns 22,849 shares in the company, valued at $7,564,161.45. The disclosure for this sale can be found here. Insiders have sold a total of 21,421 shares of company stock worth $6,912,635 in the last 90 days. 0.07% of the stock is owned by company insiders.

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.