Canada Pension Plan Investment Board Sells 34,225 Shares of Accenture plc (NYSE:ACN)

Canada Pension Plan Investment Board trimmed its stake in shares of Accenture plc (NYSE:ACN) by 50.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,232 shares of the information technology services provider’s stock after selling 34,225 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Accenture were worth $10,083,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Annapolis Financial Services LLC boosted its position in Accenture by 507.7% during the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 66 shares during the period. Ables Iannone Moore & Associates Inc. bought a new position in Accenture during the fourth quarter worth $29,000. Atwood & Palmer Inc. boosted its position in 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 purchasing an additional 58 shares during the period. Unique Wealth Strategies LLC bought a new position in Accenture during the second quarter worth $26,000. Finally, Grayhawk Investment Strategies Inc. bought a new position in Accenture during the fourth quarter worth $35,000. 75.14% of the stock is owned by institutional investors.

Insider Transactions at Accenture

In other news, CFO Kathleen R. Mcclure sold 3,000 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $309.22, for a total transaction of $927,660.00. Following the sale, the chief financial officer now directly owns 40,070 shares in the company, valued at $12,390,445.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Kathleen R. Mcclure sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $309.22, for a total value of $927,660.00. Following the sale, the chief financial officer now directly owns 40,070 shares in the company, valued at $12,390,445.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kathleen R. Mcclure sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $315.00, for a total value of $472,500.00. Following the completion of the sale, the chief financial officer now owns 38,570 shares in the company, valued at $12,149,550. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,421 shares of company stock worth $6,912,635. Insiders own 0.07% of the company’s stock.

Accenture Trading Up 0.1 %

NYSE:ACN opened at $339.64 on Wednesday. The stock has a market cap of $212.85 billion, a P/E ratio of 31.10, a price-to-earnings-growth ratio of 3.82 and a beta of 1.24. The stock’s 50-day moving average is $332.73 and its 200-day moving average is $321.04. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. TD Cowen lifted their target price on Accenture from $293.00 to $321.00 and gave the stock a “hold” rating in a report on Thursday, September 12th. Susquehanna dropped their target price on Accenture from $360.00 to $350.00 and set a “neutral” rating for the company in a report on Friday, June 21st. Morgan Stanley downgraded Accenture from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $382.00 to $300.00 in a report on Wednesday, June 26th. Mizuho lifted their target price on Accenture from $352.00 to $365.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Finally, Wedbush dropped their price target on Accenture from $400.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, June 12th. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $356.14.

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.