Schwerin Boyle Capital Management Inc. cut its stake in Accenture PLC (NYSE:ACN) by 0.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 261,605 shares of the information technology services provider’s stock after selling 550 shares during the period. Accenture PLC accounts for 3.8% of Schwerin Boyle Capital Management Inc.’s portfolio, making the stock its 8th largest position. Schwerin Boyle Capital Management Inc.’s holdings in Accenture PLC were worth $31,361,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Waldron LP increased its position in Accenture PLC by 93.3% in the first quarter. Waldron LP now owns 5,709 shares of the information technology services provider’s stock valued at $684,000 after buying an additional 2,756 shares during the last quarter. Hermes Investment Management Ltd. boosted its stake in Accenture PLC by 4.3% in the first quarter. Hermes Investment Management Ltd. now owns 478,527 shares of the information technology services provider’s stock worth $57,366,000 after buying an additional 19,687 shares during the last quarter. Novare Capital Management LLC boosted its stake in Accenture PLC by 8.1% in the first quarter. Novare Capital Management LLC now owns 39,548 shares of the information technology services provider’s stock worth $4,741,000 after buying an additional 2,950 shares during the last quarter. William Blair Investment Management LLC boosted its stake in Accenture PLC by 8.8% in the first quarter. William Blair Investment Management LLC now owns 641,952 shares of the information technology services provider’s stock worth $76,957,000 after buying an additional 51,674 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. boosted its stake in Accenture PLC by 9.3% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 2,269 shares of the information technology services provider’s stock worth $272,000 after buying an additional 193 shares during the last quarter. Hedge funds and other institutional investors own 77.48% of the company’s stock.

Shares of Accenture PLC (NYSE ACN) traded down 0.37% on Monday, reaching $129.72. 200,357 shares of the company traded hands. The firm has a 50-day moving average price of $126.05 and a 200 day moving average price of $121.87. The company has a market capitalization of $80.17 billion, a PE ratio of 22.97 and a beta of 1.11. Accenture PLC has a one year low of $108.83 and a one year high of $130.35.

Accenture PLC (NYSE:ACN) last announced its quarterly earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.52. The business had revenue of $8.87 billion during the quarter, compared to analyst estimates of $8.82 billion. Accenture PLC had a net margin of 9.92% and a return on equity of 43.96%. Accenture PLC’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.41 EPS. Equities analysts forecast that Accenture PLC will post $5.90 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Accenture PLC (NYSE:ACN) is Schwerin Boyle Capital Management Inc.’s 8th Largest Position” was originally posted by Daily Political and is the property of of Daily Political. If you are reading this story on another website, it was illegally stolen and republished in violation of US and international copyright laws. The legal version of this story can be accessed at https://www.dailypolitical.com/2017/08/07/accenture-plc-nyseacn-is-schwerin-boyle-capital-management-inc-s-8th-largest-position.html.

A number of research firms recently weighed in on ACN. BidaskClub cut shares of Accenture PLC from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Cowen and Company restated a “buy” rating and issued a $135.00 price target on shares of Accenture PLC in a research report on Friday, July 28th. Morgan Stanley set a $132.00 price target on shares of Accenture PLC and gave the company a “hold” rating in a research report on Friday, June 16th. Robert W. Baird restated a “neutral” rating and issued a $138.00 price target (up from $132.00) on shares of Accenture PLC in a research report on Wednesday, June 14th. Finally, BMO Capital Markets restated a “hold” rating and issued a $130.00 price target (up from $125.00) on shares of Accenture PLC in a research report on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $130.71.

In other news, General Counsel Chad T. Jerdee sold 3,200 shares of the company’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $122.97, for a total value of $393,504.00. Following the completion of the sale, the general counsel now owns 18,566 shares in the company, valued at approximately $2,283,061.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gianfranco Casati sold 5,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $130.00, for a total transaction of $650,000.00. Following the completion of the sale, the insider now owns 56,014 shares of the company’s stock, valued at approximately $7,281,820. The disclosure for this sale can be found here. Insiders have sold a total of 79,817 shares of company stock valued at $9,902,889 in the last 90 days. 0.21% of the stock is currently owned by company insiders.

About Accenture PLC

Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.

Want to see what other hedge funds are holding ACN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Accenture PLC (NYSE:ACN).

Institutional Ownership by Quarter for Accenture PLC (NYSE:ACN)

Receive News & Ratings for Accenture PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture PLC and related companies with MarketBeat.com's FREE daily email newsletter.