Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Accenture plc shares valued at $2,657,034 were sold by Walsh John F on Mar 25 ’24. At $332.13 per share, Walsh John F sold 8,000 shares. The insider’s holdings dropped to 17,877 shares worth approximately $5.81 million following the completion of this transaction.
Also, Sweet Julie Spellman sold 7,361 shares, netting a total of over 2,726,126 in proceeds. Following the sale of shares at $370.35 each, the insider now holds 18,713 shares.
Before that, McClure Kathleen R had sold 2,070 shares from its account. In a trade valued at $766,555, the Chief Financial Officer traded Accenture plc shares for $370.32 each. Upon closing the transaction, the insider’s holdings decreased to 2,070 shares, worth approximately $15.32 million.
As published in a research note from Susquehanna on March 21, 2024, Accenture plc [ACN] has been rated down from a Positive to a Neutral and the price target has been revised to $360 from $400. Analysts at Guggenheim started covering the stock with ‘”a Buy”‘ outlook in a report released in mid March. As of January 30, 2024, Mizuho has initiated its “Buy” rating for ACN. Earlier on January 17, 2024, Exane BNP Paribas upgraded its rating. Their new recommendation was “an Outperform” for ACN stock which previously was a “a Neutral”.
Analyzing ACN Stock Performance
During the last five days, there has been a drop of approximately -1.60%. Over the course of the year, Accenture plc shares have dropped approximately -7.33%. Shares of the company reached a 52-week high of $387.51 on 03/07/24 and a 52-week low of $323.26 on 04/11/24. A 50-day SMA is recorded $362.08, while a 200-day SMA reached $333.00. Nevertheless, trading volume fell to 2.08 million shares from 2.16 million shares the previous day.
Support And Resistance Levels for Accenture plc (ACN)
According to the 24-hour chart, there is a support level at 323.30, which, if violated, would cause prices to drop to 321.41. In the upper region, resistance lies at 327.04. The next price resistance is at 328.89. RSI (Relative Strength Index) is 32.00 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -6.45, which suggests the price will decrease in the coming days. Percent R is at 92.91%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Accenture plc subject to short interest?
Stocks of Accenture plc saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.35 million shares to 7.07 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 7.42 million shares. A decline of -4.95% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.45 of the overall float, the days-to-cover ratio (short ratio) decline to 2.45.
