Public Employees Retirement System of Ohio Decreases Stock Holdings in Accenture PLC $ACN

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Accenture PLC by 3.1%, owning 266,882 shares valued at approximately $79.77 million after selling 8,634 shares.
• CEOs Mauro Macchi and Julie Spellman Sweet sold shares of Accenture, decreasing their ownership by 17.97% and 21.73%, respectively, with combined sales valued at over $776,000.
• Equities analysts have lowered target prices for Accenture, with Barclays adjusting its target from $390 to $360, while maintaining an "overweight" rating on the stock.

Public Employees Retirement System of Ohio lessened its stake in shares of Accenture PLC (NYSE:ACN - Free Report) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 266,882 shares of the information technology services provider's stock after selling 8,634 shares during the period. Public Employees Retirement System of Ohio's holdings in Accenture were worth $79,768,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Park Square Financial Group LLC bought a new position in shares of Accenture during the fourth quarter valued at approximately $31,000. Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of Accenture in the 1st quarter valued at about $31,000. Inlight Wealth Management LLC purchased a new stake in Accenture in the 1st quarter worth $32,000. Capital A Wealth Management LLC acquired a new stake in Accenture during the 4th quarter worth $34,000. Finally, WPG Advisers LLC acquired a new stake in shares of Accenture in the first quarter valued at approximately $42,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Accenture

In related news, CEO Mauro Macchi sold 500 shares of the firm's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $282.34, for a total transaction of $141,170.00. Following the transaction, the chief executive officer directly owned 2,283 shares of the company's stock, valued at approximately $644,582.22. This trade represents a 17.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 2,251 shares of the firm's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $282.45, for a total value of $635,794.95. Following the completion of the sale, the chief executive officer directly owned 8,109 shares in the company, valued at $2,290,387.05. This trade represents a 21.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,954 shares of company stock valued at $834,280 over the last 90 days. 0.02% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on ACN shares. Barclays lowered their target price on Accenture from $390.00 to $360.00 and set an "overweight" rating for the company in a report on Monday, June 23rd. Hsbc Global Res upgraded Accenture to a "moderate sell" rating in a report on Monday, July 28th. TD Cowen decreased their price objective on Accenture from $342.00 to $313.00 and set a "buy" rating on the stock in a report on Tuesday, September 9th. JPMorgan Chase & Co. decreased their target price on Accenture from $334.00 to $302.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. Finally, Evercore ISI started coverage on Accenture in a report on Thursday, July 17th. They issued an "outperform" rating and a $330.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $329.52.

Accenture Stock Performance

Shares of NYSE:ACN opened at $235.20 on Wednesday. Accenture PLC has a fifty-two week low of $234.10 and a fifty-two week high of $398.35. The business's fifty day moving average price is $256.10 and its two-hundred day moving average price is $287.94. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a market capitalization of $147.32 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 2.07 and a beta of 1.29.

About Accenture

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.

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