Kentucky Retirement Systems Has $14.38 Million Stake in Accenture plc (NYSE:ACN)

Kentucky Retirement Systems lowered its stake in Accenture plc (NYSE:ACN) by 0.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ACN. Unique Wealth Strategies LLC bought a new stake in Accenture during the second quarter worth approximately $26,000. Annapolis Financial Services LLC lifted its stake 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 worth $27,000 after buying an additional 66 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Accenture during the 2nd quarter worth $28,000. Ables Iannone Moore & Associates Inc. acquired a new position in Accenture in the 4th quarter valued at $29,000. Finally, Atwood & Palmer Inc. raised its holdings in Accenture by 214.8% in the 1st 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 during the period. Institutional investors own 75.14% of the company’s stock.

Accenture Trading Down 0.3 %

NYSE ACN opened at $336.17 on Thursday. The firm has a market cap of $210.68 billion, a price-to-earnings ratio of 30.78, a PEG ratio of 3.82 and a beta of 1.24. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51. The company has a 50 day moving average of $330.75 and a 200-day moving average of $322.68.

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

Wall Street Analyst Weigh In

ACN has been the topic of several research analyst reports. Stifel Nicolaus lowered their price target on Accenture from $395.00 to $340.00 and set a “buy” rating on the stock in a research report on Wednesday, June 12th. Piper Sandler dropped their price target on Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a research report on Monday, June 17th. Wedbush reduced their price objective on Accenture from $400.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, June 12th. TD Cowen boosted their target price on shares of Accenture from $293.00 to $321.00 and gave the stock a “hold” rating in a research report on Thursday, September 12th. Finally, Barclays decreased their price target on shares of Accenture from $390.00 to $350.00 and set an “overweight” rating on the stock in a research report on Monday, June 17th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and an average target price of $355.59.

Insider Buying and Selling at Accenture

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