State of New Jersey Common Pension Fund D Has $126.21 Million Position in Accenture plc (NYSE:ACN)

State of New Jersey Common Pension Fund D reduced its holdings in shares of Accenture plc (NYSE:ACN) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 359,672 shares of the information technology services provider’s stock after selling 798 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of Accenture worth $126,213,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. International Assets Investment Management LLC increased its position in Accenture by 3.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,690 shares of the information technology services provider’s stock valued at $531,000 after buying an additional 52 shares in the last quarter. Founders Financial Securities LLC bought a new stake in Accenture in the 3rd quarter valued at about $327,000. Newbridge Financial Services Group Inc. increased its position in Accenture by 23.1% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 320 shares of the information technology services provider’s stock valued at $98,000 after buying an additional 60 shares in the last quarter. KFG Wealth Management LLC increased its holdings in Accenture by 16.3% during the 3rd quarter. KFG Wealth Management LLC now owns 1,382 shares of the information technology services provider’s stock worth $424,000 after purchasing an additional 194 shares in the last quarter. Finally, Strategic Blueprint LLC increased its holdings in Accenture by 4.1% during the 3rd quarter. Strategic Blueprint LLC now owns 2,298 shares of the information technology services provider’s stock worth $706,000 after purchasing an additional 90 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Accenture

In related news, CFO Kathleen R. Mcclure sold 851 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $371.77, for a total value of $316,376.27. Following the transaction, the chief financial officer now owns 50,737 shares of the company’s stock, valued at $18,862,494.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Manish Sharma sold 1,486 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $370.39, for a total transaction of $550,399.54. Following the transaction, the chief executive officer now directly owns 4,503 shares of the company’s stock, valued at $1,667,866.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kathleen R. Mcclure sold 851 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $371.77, for a total value of $316,376.27. Following the transaction, the chief financial officer now directly owns 50,737 shares in the company, valued at $18,862,494.49. The disclosure for this sale can be found here. Insiders have sold a total of 32,490 shares of company stock valued at $10,592,664 over the last 90 days. 0.07% of the stock is owned by insiders.

Analyst Ratings Changes

ACN has been the subject of a number of recent research reports. Citigroup decreased their price objective on Accenture from $430.00 to $400.00 and set a “buy” rating for the company in a report on Friday, March 22nd. UBS Group boosted their target price on Accenture from $365.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Stifel Nicolaus boosted their target price on Accenture from $363.00 to $395.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Redburn Atlantic boosted their target price on Accenture from $410.00 to $445.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Finally, BNP Paribas upgraded Accenture from a “neutral” rating to an “outperform” rating and set a $440.00 target price on the stock in a research note on Wednesday, January 17th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Accenture has an average rating of “Moderate Buy” and an average price target of $387.00.

Accenture Trading Down 0.3 %

Shares of Accenture stock traded down $1.07 during trading on Friday, hitting $307.93. The stock had a trading volume of 3,371,677 shares, compared to its average volume of 2,435,283. The firm has a market cap of $206.54 billion, a price-to-earnings ratio of 27.92, a P/E/G ratio of 2.97 and a beta of 1.19. Accenture plc has a 12 month low of $261.68 and a 12 month high of $387.51. The business’s 50-day moving average is $350.89 and its 200 day moving average is $341.97.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.11. The firm had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.85 billion. Accenture had a net margin of 10.89% and a return on equity of 28.30%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.69 earnings per share. As a group, equities analysts expect that Accenture plc will post 12.09 EPS for the current year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 11th will be paid a $1.29 dividend. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a $5.16 dividend on an annualized basis and a yield of 1.68%. Accenture’s dividend payout ratio is presently 46.78%.

Accenture 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.