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Potential Price Increase for Accenture plc (ACN) After Recent Insider Activity

In a filing, Accenture plc revealed its Director PELISSON Gilles unloaded Company’s shares for reported $2.24 million on May 13 ’24. In the deal valued at $308.02 per share,7,288 shares were sold. As a result of this transaction, PELISSON Gilles now holds 0 shares worth roughly $0.0.

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Then, Shook Ellyn sold 5,000 shares, generating $1,536,112 in total proceeds. Upon selling the shares at $307.22, the Chief Leadership & HR Officer now owns 13,699 shares.

Before that, Unruch Joel sold 4,333 shares. Accenture plc shares valued at $1,369,733 were divested by the General Counsel/Corp Secretary at a price of $316.12 per share. As a result of the transaction, Unruch Joel now holds 30,702 shares, worth roughly $9.29 million.

Morgan Stanley downgraded its Accenture plc [ACN] rating to an Equal-weight from a an Overweight in a research note published on June 26, 2024; the price target was decreased to $300 from $382. A number of analysts have revised their coverage, including Goldman’s analysts, who began to cover the stock in late June with a ‘”a Neutral”‘ rating. Deutsche Bank also remained covering ACN and has decreased its forecast on May 15, 2024 with a “Hold” recommendation from previously “Buy” rating. Susquehanna revised its rating on March 21, 2024. It rated ACN as “a Neutral” which previously was an “a Positive”.

Price Performance Review of ACN

On Monday, Accenture plc [NYSE:ACN] saw its stock fall -0.28% to $302.55. Over the last five days, the stock has lost -1.52%. Accenture plc shares have fallen nearly -13.78% since the year began. Nevertheless, the stocks have fallen -1.87% over the past one year. While a 52-week high of $387.51 was reached on 03/07/24, a 52-week low of $278.69 was recorded on 05/31/24. SMA at 50 days reached $300.82, while 200 days put it at $329.51. A total of 2.33 million shares were traded, compared to the trading of 14.91 million shares in the previous session.

Levels Of Support And Resistance For ACN Stock

The 24-hour chart illustrates a support level at 299.98, which if violated will result in even more drops to 297.41. On the upside, there is a resistance level at 304.74. A further resistance level may holdings at 306.93. The Relative Strength Index (RSI) on the 14-day chart is 53.95, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 5.68, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 41.00%. Stochastics%K at 60.35% indicates the stock is a holding.

The most recent change occurred on March 19, 2024 when Guggenheim began covering the stock and recommended ‘”a Buy”‘ rating along with a $425 price target.

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