Accenture plc (NYSE:ACN) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its position in shares of Accenture plc (NYSE:ACN) by 73.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 486,679 shares of the information technology services provider’s stock after buying an additional 205,729 shares during the period. Accenture comprises approximately 0.6% of Teacher Retirement System of Texas’ portfolio, making the stock its 19th biggest holding. Teacher Retirement System of Texas’ holdings in Accenture were worth $171,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Royal London Asset Management Ltd. raised its position in shares of Accenture by 1.2% in the fourth quarter. Royal London Asset Management Ltd. now owns 318,517 shares of the information technology services provider’s stock worth $112,051,000 after acquiring an additional 3,744 shares during the period. Bank of Marin raised its holdings in Accenture by 8.4% in the 4th quarter. Bank of Marin now owns 3,080 shares of the information technology services provider’s stock worth $1,084,000 after purchasing an additional 238 shares during the period. VSM Wealth Advisory LLC purchased a new position in Accenture during the fourth quarter worth approximately $106,000. Xponance Inc. increased its position in shares of Accenture by 8.6% in the fourth quarter. Xponance Inc. now owns 97,765 shares of the information technology services provider’s stock valued at $34,393,000 after buying an additional 7,769 shares in the last quarter. Finally, Intech Investment Management LLC lifted its position in shares of Accenture by 50.3% during the 4th quarter. Intech Investment Management LLC now owns 70,187 shares of the information technology services provider’s stock valued at $24,691,000 after buying an additional 23,484 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Melissa A. Burgum sold 232 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total transaction of $91,514.72. Following the completion of the sale, the chief accounting officer now owns 8,915 shares in the company, valued at $3,516,610.90. This represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Angela Beatty sold 375 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the transaction, the insider now directly owns 5,149 shares in the company, valued at $1,845,916.50. This represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,280 shares of company stock valued at $8,316,190. Insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ACN shares. The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and lifted their target price for the company from $370.00 to $420.00 in a research report on Friday, December 6th. Jefferies Financial Group lowered their price objective on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Robert W. Baird upgraded Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 target price on the stock in a research report on Monday. StockNews.com cut Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Finally, Baird R W upgraded Accenture from a “hold” rating to a “strong-buy” rating in a report on Monday. Eight analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Accenture currently has an average rating of “Moderate Buy” and an average target price of $384.45.

Accenture Trading Up 0.1 %

NYSE ACN opened at $324.52 on Thursday. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The company has a market capitalization of $203.08 billion, a price-to-earnings ratio of 27.22, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The firm’s fifty day moving average price is $361.19 and its 200 day moving average price is $357.78.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. During the same period in the previous year, the company posted $3.27 EPS. The company’s quarterly revenue was up 9.0% on a year-over-year basis. On average, sell-side analysts expect that Accenture plc will post 12.73 earnings per share for the current fiscal year.

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.