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

Schwerin Boyle Capital Management Inc. decreased its stake in shares of Accenture plc (NYSE:ACN) by 0.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,240 shares of the information technology services provider’s stock after selling 320 shares during the period. Accenture makes up about 3.9% of Schwerin Boyle Capital Management Inc.’s investment portfolio, 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 & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. TrinityPoint Wealth LLC boosted its position in shares of Accenture by 3.6% during the fourth quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock worth $1,279,000 after buying an additional 125 shares during the period. Focus Financial Network Inc. ADV bought a new position in shares of Accenture during the 4th quarter worth approximately $4,594,000. New Mexico Educational Retirement Board raised its holdings in shares of Accenture by 11.9% in the first quarter. New Mexico Educational Retirement Board now owns 36,750 shares of the information technology services provider’s stock valued at $12,393,000 after purchasing an additional 3,900 shares during the last quarter. Platform Technology Partners boosted its holdings in Accenture by 7.0% during the fourth quarter. Platform Technology Partners now owns 1,996 shares of the information technology services provider’s stock worth $733,000 after purchasing an additional 131 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Accenture by 13.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 183,446 shares of the information technology services provider’s stock valued at $63,584,000 after purchasing an additional 21,516 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Accenture Stock Performance

ACN opened at $336.22 on Friday. The stock has a fifty day moving average of $332.01 and a 200-day moving average of $322.06. The company has a market capitalization of $210.71 billion, a P/E ratio of 30.79, a P/E/G ratio of 3.82 and a beta of 1.24. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $387.51.

Accenture (NYSE:ACN) last posted its quarterly earnings data 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). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The business had revenue of $16.47 billion during the quarter, compared to the consensus estimate of $16.55 billion. During the same period in the prior year, the firm earned $3.19 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities research analysts predict that Accenture plc will post 11.95 earnings per share for the current fiscal year.

Insider Activity

In other Accenture news, CFO Kathleen R. Mcclure sold 3,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 40,070 shares in the company, valued at approximately $12,390,445.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Accenture news, CFO Kathleen R. Mcclure sold 3,000 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.22, for a total transaction of $927,660.00. Following the sale, the chief financial officer now directly owns 40,070 shares in the company, valued at $12,390,445.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Joel Unruch sold 8,145 shares of the company’s stock in a transaction that occurred 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 sale, the general counsel now directly owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,421 shares of company stock worth $6,912,635. Corporate insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on ACN shares. Stifel Nicolaus reduced their price objective on shares of Accenture from $395.00 to $340.00 and set a “buy” rating for the company in a research note on Wednesday, June 12th. Mizuho raised their price target on Accenture from $352.00 to $365.00 and gave the company an “outperform” rating in a research note on Wednesday. UBS Group upgraded Accenture from a “neutral” rating to a “buy” rating and set a $400.00 price objective on the stock in a research note on Friday, July 19th. Piper Sandler raised their target price on shares of Accenture from $320.00 to $329.00 and gave the company a “neutral” rating in a research note on Friday. Finally, JPMorgan Chase & Co. upped their price target on shares of Accenture from $330.00 to $376.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Accenture has an average rating of “Moderate Buy” and an average target price of $356.41.

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.