Accenture PLC $ACN Stock Position Cut by Schwartz Investment Counsel Inc.
by Amy Steele · The Cerbat GemSchwartz Investment Counsel Inc. decreased its holdings in shares of Accenture PLC (NYSE:ACN – Free Report) by 16.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,210 shares of the information technology services provider’s stock after selling 10,400 shares during the quarter. Schwartz Investment Counsel Inc.’s holdings in Accenture were worth $9,390,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in ACN. Bank of America Corp DE increased its position in Accenture by 2.2% during the 1st quarter. Bank of America Corp DE now owns 6,531,231 shares of the information technology services provider’s stock worth $1,295,078,000 after purchasing an additional 143,483 shares in the last quarter. First Trust Advisors LP boosted its position in Accenture by 120.0% in the first quarter. First Trust Advisors LP now owns 3,482,150 shares of the information technology services provider’s stock valued at $690,475,000 after buying an additional 1,899,305 shares in the last quarter. Pzena Investment Management LLC boosted its position in Accenture by 84.0% in the first quarter. Pzena Investment Management LLC now owns 2,405,683 shares of the information technology services provider’s stock valued at $477,023,000 after buying an additional 1,097,961 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Accenture by 24.3% during the first quarter. The Manufacturers Life Insurance Company now owns 2,384,954 shares of the information technology services provider’s stock worth $472,913,000 after buying an additional 466,452 shares during the last quarter. Finally, Artemis Investment Management LLP grew its stake in shares of Accenture by 67.6% during the third quarter. Artemis Investment Management LLP now owns 2,196,789 shares of the information technology services provider’s stock worth $402,825,000 after buying an additional 885,687 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.
Insider Buying and Selling
In other Accenture news, CEO Ryoji Sekido sold 5,844 shares of the firm’s stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $244.84, for a total transaction of $1,430,844.96. Following the completion of the transaction, the chief executive officer owned 1,194 shares in the company, valued at approximately $292,338.96. This trade represents a 83.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Catherine Hogan sold 1,320 shares of the firm’s stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $200.00, for a total transaction of $264,000.00. Following the transaction, the chief operating officer owned 12,556 shares of the company’s stock, valued at approximately $2,511,200. The trade was a 9.51% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 19,173 shares of company stock valued at $3,758,527 in the last ninety days. Insiders own 0.02% of the company’s stock.
Accenture Stock Performance
NYSE ACN opened at $235.27 on Wednesday. Accenture PLC has a twelve month low of $118.15 and a twelve month high of $291.09. The stock has a fifty day simple moving average of $198.54 and a 200 day simple moving average of $192.91.
Accenture (NYSE:ACN – Get Free Report) last announced its earnings results on Thursday, October 1st. The information technology services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $3.18 by $0.11. The company had revenue of $18.68 billion for the quarter, compared to analyst estimates of $18.03 billion. During the same period in the previous year, the firm posted $3.03 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. Accenture has set its FY 2027 guidance at 14.390-14.810 EPS. Research analysts predict that Accenture PLC will post 14.68 EPS for the current year.
Accenture Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 13th will be paid a $1.71 dividend. This is an increase from Accenture’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, October 13th.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on ACN shares. Morgan Stanley increased their price target on Accenture from $175.00 to $195.00 and gave the company an “equal weight” rating in a research note on Friday, October 2nd. Guggenheim restated a “neutral” rating on shares of Accenture in a research report on Friday, October 2nd. BMO Capital Markets set a $235.00 target price on Accenture in a report on Friday, October 2nd. TD Cowen upped their target price on Accenture from $193.00 to $201.00 and gave the stock a “hold” rating in a report on Thursday, October 15th. Finally, Citigroup increased their target price on Accenture from $135.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, August 24th. Ten research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $221.07.
Read Our Latest Report on Accenture
Accenture Company Profile
Accenture plc is a global professional services company that helps organizations transform their businesses through consulting, technology and managed services. Its work spans strategy and consulting, technology implementation, operations, and interactive customer experiences.
The company provides services in areas including cloud computing, artificial intelligence, cybersecurity, data and analytics, digital engineering, enterprise software, systems integration and business process outsourcing.
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