Schwerin Boyle Capital Management Inc. Decreases Stake in Accenture plc (NYSE:ACN)

Schwerin Boyle Capital Management Inc. lowered its stake in Accenture plc (NYSE:ACN) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,240 shares of the information technology services provider’s stock after selling 320 shares during the period. Accenture accounts for 3.9% of Schwerin Boyle Capital Management Inc.’s holdings, making the stock its 6th largest holding. Schwerin Boyle Capital Management Inc.’s holdings in Accenture were worth $37,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Unique Wealth Strategies LLC bought a new position in Accenture in the 2nd quarter valued at approximately $26,000. Annapolis Financial Services LLC raised its stake in shares of Accenture by 507.7% during the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 66 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Accenture during the second quarter worth $28,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Accenture in the fourth quarter worth $29,000. Finally, Atwood & Palmer Inc. raised its position in Accenture by 214.8% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 58 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling

In related news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the transaction, the insider now directly owns 8,989 shares of the company’s stock, valued at $2,964,751.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the completion of the transaction, the insider now directly owns 8,989 shares of the company’s stock, valued at approximately $2,964,751.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kathleen R. Mcclure sold 3,000 shares of Accenture stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $309.22, for a total transaction of $927,660.00. Following the completion of the sale, the chief financial officer now directly owns 40,070 shares in the company, valued at approximately $12,390,445.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,421 shares of company stock worth $6,912,635. 0.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ACN shares. Mizuho upped their price target on Accenture from $352.00 to $365.00 and gave the company an “outperform” rating in a research report on Wednesday. TD Cowen upped their target price on Accenture from $293.00 to $321.00 and gave the company a “hold” rating in a report on Thursday, September 12th. Barclays lowered their price target on shares of Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a report on Monday, June 17th. Bank of America decreased their price objective on shares of Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Finally, Wedbush dropped their target price on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, June 12th. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Accenture has an average rating of “Moderate Buy” and an average price target of $356.41.

Accenture Trading Up 0.3 %

Accenture stock opened at $336.22 on Friday. The firm’s fifty day moving average price is $332.01 and its two-hundred day moving average price is $322.06. The firm has a market capitalization of $210.71 billion, a price-to-earnings ratio of 30.79, a price-to-earnings-growth ratio of 3.82 and a beta of 1.24. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). The company had revenue of $16.47 billion for the quarter, compared to analyst estimates of $16.55 billion. Accenture had a net margin of 10.79% and a return on equity of 27.48%. Accenture’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $3.19 EPS. On average, research analysts forecast that Accenture plc will post 11.95 EPS for the current year.

About Accenture

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.