New York State Teachers Retirement System Reduces Stock Holdings in Accenture PLC (NYSE:ACN)

New York State Teachers Retirement System decreased its holdings in Accenture PLC (NYSE:ACN - Free Report) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 541,670 shares of the information technology services provider's stock after selling 7,377 shares during the period. New York State Teachers Retirement System owned 0.09% of Accenture worth $169,023,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ACN. Kohmann Bosshard Financial Services LLC bought a new position in shares of Accenture in the fourth quarter worth $30,000. Mpwm Advisory Solutions LLC bought a new position in Accenture in the 4th quarter worth about $30,000. Park Square Financial Group LLC purchased a new stake in shares of Accenture in the fourth quarter worth about $31,000. Promus Capital LLC purchased a new position in Accenture during the fourth quarter valued at approximately $34,000. Finally, Capital A Wealth Management LLC bought a new stake in Accenture during the 4th quarter worth approximately $34,000. Institutional investors own 75.14% of the company's stock.

Insider Activity

In other Accenture news, General Counsel Joel Unruch sold 3,563 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $281.78, for a total transaction of $1,003,982.14. Following the sale, the general counsel directly owned 17,237 shares in the company, valued at approximately $4,857,041.86. This trade represents a 17.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO John F. Walsh sold 2,500 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $325.00, for a total value of $812,500.00. Following the sale, the chief operating officer directly owned 15,882 shares in the company, valued at $5,161,650. This trade represents a 13.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,516 shares of company stock worth $2,507,366. Corporate insiders own 0.02% of the company's stock.

Accenture Trading Up 1.2%

Shares of Accenture stock traded up $3.67 during midday trading on Tuesday, reaching $302.56. 3,565,561 shares of the company's stock traded hands, compared to its average volume of 2,900,444. The company has a market cap of $189.50 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 2.93 and a beta of 1.30. The stock has a 50 day moving average of $308.43 and a 200-day moving average of $330.80. Accenture PLC has a 12 month low of $273.19 and a 12 month high of $398.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46.

Accenture (NYSE:ACN - Get Free Report) last issued its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.32 by $0.17. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The business had revenue of $17.73 billion during the quarter, compared to analyst estimates of $17.26 billion. During the same period last year, the business posted $3.13 earnings per share. Accenture's quarterly revenue was up 7.7% compared to the same quarter last year. As a group, equities analysts expect that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 10th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $5.92 annualized dividend and a yield of 1.96%. Accenture's dividend payout ratio (DPR) is presently 47.13%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ACN shares. Mizuho set a $348.00 price target on Accenture and gave the company an "outperform" rating in a report on Tuesday, June 24th. Wall Street Zen lowered shares of Accenture from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Morgan Stanley decreased their price target on shares of Accenture from $340.00 to $325.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 24th. Benchmark reissued a "mixed" rating on shares of Accenture in a research note on Friday, June 20th. Finally, Royal Bank Of Canada cut their price objective on Accenture from $399.00 to $392.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $370.71.

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.