Long Road Investment Counsel LLC Has $5.45 Million Position in Accenture plc (NYSE:ACN)

Long Road Investment Counsel LLC decreased its position in shares of Accenture plc (NYSE:ACN) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,970 shares of the information technology services provider’s stock after selling 200 shares during the quarter. Accenture makes up approximately 2.4% of Long Road Investment Counsel LLC’s holdings, making the stock its 12th largest holding. Long Road Investment Counsel LLC’s holdings in Accenture were worth $5,452,000 as of its most recent filing with the SEC.

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

Accenture Price Performance

Shares of NYSE ACN opened at $336.22 on Friday. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $387.51. The stock has a market capitalization of $210.71 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 3.82 and a beta of 1.24. The business has a 50-day moving average of $332.01 and a 200-day moving average of $322.06.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 27.48% and a net margin of 10.79%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm earned $3.19 EPS. On average, sell-side analysts expect that Accenture plc will post 11.95 EPS for the current year.

Analyst Ratings Changes

ACN has been the subject of several analyst reports. Stifel Nicolaus decreased their target price on Accenture from $395.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday, June 12th. Morgan Stanley cut shares of Accenture from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $382.00 to $300.00 in a report on Wednesday, June 26th. The Goldman Sachs Group initiated coverage on shares of Accenture in a research report on Monday, June 24th. They set a “neutral” rating and a $335.00 price target on the stock. Piper Sandler Companies reaffirmed a “neutral” rating and set a $329.00 price objective on shares of Accenture in a research note on Friday. Finally, BMO Capital Markets decreased their target price on Accenture from $375.00 to $350.00 and set a “market perform” rating for the company in a research note on Friday, June 21st. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Accenture presently has a consensus rating of “Moderate Buy” and an average target price of $356.41.

Insider Activity at Accenture

In other Accenture news, General Counsel Joel Unruch sold 8,145 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $331.05, for a total value of $2,696,402.25. Following the completion of the sale, the general counsel now owns 22,849 shares in the company, valued at $7,564,161.45. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Kathleen R. Mcclure sold 1,500 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $315.00, for a total value of $472,500.00. Following the sale, the chief financial officer now owns 38,570 shares in the company, valued at approximately $12,149,550. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Joel Unruch sold 8,145 shares of Accenture stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the transaction, the general counsel now directly owns 22,849 shares of the company’s stock, valued at $7,564,161.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,421 shares of company stock valued at $6,912,635. 0.07% of the stock is owned by corporate insiders.

Accenture Company 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.