Teachers Retirement System of The State of Kentucky cut its stake in shares of Accenture Plc (NYSE:ACN) by 2.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 91,400 shares of the information technology services provider’s stock after selling 2,100 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Accenture were worth $13,992,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jacobi Capital Management LLC grew its stake in shares of Accenture by 104.8% during the 3rd quarter. Jacobi Capital Management LLC now owns 727 shares of the information technology services provider’s stock valued at $100,000 after buying an additional 372 shares during the period. Virtue Capital Management LLC purchased a new stake in shares of Accenture during the 4th quarter valued at $128,000. Aevitas Wealth Management Inc. purchased a new stake in shares of Accenture during the 4th quarter valued at $131,000. Santori & Peters Inc. purchased a new stake in shares of Accenture during the 4th quarter valued at $181,000. Finally, Calton & Associates Inc. purchased a new stake in shares of Accenture during the 4th quarter valued at $209,000. 75.58% of the stock is owned by institutional investors.
In other Accenture news, CAO Richard P. Clark sold 1,433 shares of the business’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $158.37, for a total value of $226,944.21. Following the transaction, the chief accounting officer now owns 8,932 shares in the company, valued at approximately $1,414,560.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David Rowland sold 3,102 shares of the business’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $161.21, for a total transaction of $500,073.42. Following the completion of the transaction, the chief financial officer now owns 25,012 shares in the company, valued at approximately $4,032,184.52. The disclosure for this sale can be found here. Insiders sold a total of 117,249 shares of company stock worth $18,106,228 in the last quarter. 0.21% of the stock is currently owned by company insiders.
Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, December 21st. The information technology services provider reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.12. Accenture had a net margin of 9.43% and a return on equity of 41.79%. The firm had revenue of $9.52 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the business posted $1.58 EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. research analysts expect that Accenture Plc will post 6.65 earnings per share for the current year.
Several brokerages have recently issued reports on ACN. Pivotal Research boosted their price objective on shares of Accenture from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, December 22nd. Zacks Investment Research raised shares of Accenture from a “hold” rating to a “buy” rating and set a $172.00 price objective for the company in a research note on Wednesday, December 27th. Morgan Stanley raised shares of Accenture from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $159.00 to $140.00 in a research report on Monday, February 5th. Cowen reaffirmed a “buy” rating and set a $165.00 price target on shares of Accenture in a research report on Thursday, December 14th. Finally, Credit Suisse Group set a $165.00 price target on shares of Accenture and gave the stock a “hold” rating in a research report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $156.57.
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Accenture Company Profile
Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.
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