Elevation Point Wealth Partners LLC Boosts Stock Position in Accenture PLC $ACN

Elevation Point Wealth Partners LLC raised its stake in shares of Accenture PLC (NYSE:ACNFree Report) by 309.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,801 shares of the information technology services provider’s stock after buying an additional 15,722 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Accenture were worth $4,125,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Board of the Pension Protection Fund bought a new position in shares of Accenture during the fourth quarter valued at $27,000. Laurel Wealth Advisors LLC bought a new position in Accenture in the 4th quarter worth about $27,000. McMillan Office Inc. purchased a new stake in Accenture during the 4th quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in Accenture during the 4th quarter valued at about $27,000. Finally, Triumph Capital Management purchased a new position in Accenture in the third quarter worth about $26,000. 75.14% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of the stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $177.14, for a total value of $863,026.08. Following the transaction, the chief executive officer owned 12,802 shares of the company’s stock, valued at approximately $2,267,746.28. This represents a 27.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.02% of the company’s stock.

Accenture Stock Up 0.0%

ACN opened at $137.40 on Friday. The stock has a market capitalization of $91.76 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 1.36 and a beta of 1.13. The firm has a 50 day moving average price of $164.30 and a 200-day moving average price of $208.64. Accenture PLC has a twelve month low of $118.15 and a twelve month high of $307.77. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.15.

Accenture (NYSE:ACNGet Free Report) last posted its earnings results on Thursday, June 18th. The information technology services provider reported $3.80 EPS for the quarter, topping analysts’ consensus estimates of $3.70 by $0.10. The business had revenue of $18.72 billion during the quarter, compared to the consensus estimate of $18.78 billion. Accenture had a net margin of 10.66% and a return on equity of 26.47%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.49 EPS. Accenture has set its FY 2026 guidance at 13.780-13.900 EPS. Equities research analysts forecast that Accenture PLC will post 13.85 earnings per share for the current year.

Accenture declared that its Board of Directors has authorized a stock buyback program on Tuesday, June 23rd that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Accenture Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 9th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $6.52 annualized dividend and a dividend yield of 4.7%. Accenture’s payout ratio is presently 52.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ACN shares. Argus cut their price target on shares of Accenture from $335.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, June 22nd. Wolfe Research reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Accenture in a research report on Tuesday, June 16th. HSBC cut their target price on Accenture from $220.00 to $210.00 and set a “hold” rating on the stock in a research note on Tuesday, April 14th. Truist Financial reduced their target price on Accenture from $210.00 to $150.00 and set a “hold” rating for the company in a report on Monday, June 22nd. Finally, Evercore set a $180.00 price target on Accenture in a report on Thursday, June 18th. Twelve analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $195.00.

Get Our Latest Stock Analysis on ACN

Accenture Profile

(Free Report)

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.

Further Reading

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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