Mediolanum International Funds Ltd lessened its stake in Accenture PLC (NYSE:ACN – Free Report) by 14.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 175,327 shares of the information technology services provider’s stock after selling 30,258 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Accenture were worth $34,636,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Accenture during the fourth quarter worth $2,146,995,000. Voloridge Investment Management LLC purchased a new position in Accenture in the third quarter valued at about $311,694,000. Franklin Resources Inc. increased its position in Accenture by 15.9% in the 4th quarter. Franklin Resources Inc. now owns 8,173,338 shares of the information technology services provider’s stock worth $2,192,907,000 after purchasing an additional 1,122,855 shares during the last quarter. Pzena Investment Management LLC raised its stake in shares of Accenture by 84.0% during the 1st quarter. Pzena Investment Management LLC now owns 2,405,683 shares of the information technology services provider’s stock worth $477,023,000 after purchasing an additional 1,097,961 shares in the last quarter. Finally, FIL Ltd lifted its holdings in shares of Accenture by 33.5% during the 4th quarter. FIL Ltd now owns 3,921,049 shares of the information technology services provider’s stock valued at $1,052,017,000 after buying an additional 983,840 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.
Insider Buying and Selling at Accenture
In related news, CEO Atsushi Egawa sold 4,872 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $177.14, for a total value of $863,026.08. Following the completion of the sale, the chief executive officer owned 12,802 shares in the company, valued at approximately $2,267,746.28. This trade represents a 27.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.02% of the company’s stock.
Accenture Trading Down 0.7%
Accenture (NYSE:ACN – Get Free Report) last released its earnings results on Thursday, June 18th. The information technology services provider reported $3.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.70 by $0.10. The firm had revenue of $18.72 billion for the quarter, compared to analyst estimates of $18.78 billion. Accenture had a return on equity of 26.47% and a net margin of 10.66%.The company’s revenue was up 5.6% on a year-over-year basis. During the same quarter last 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 has initiated a stock buyback program on Tuesday, June 23rd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the information technology services provider to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
Accenture Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, July 9th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.5%. Accenture’s dividend payout ratio is currently 52.08%.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on ACN shares. Wolfe Research restated an “outperform” rating and issued a $200.00 price objective on shares of Accenture in a report on Tuesday, June 16th. Royal Bank Of Canada cut their price target on shares of Accenture from $253.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, June 22nd. Argus reduced their price objective on shares of Accenture from $335.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, June 22nd. Jefferies Financial Group lowered their target price on shares of Accenture from $210.00 to $185.00 and set a “hold” rating on the stock in a research report on Monday, June 15th. Finally, William Blair lowered Accenture from an “outperform” rating to a “market perform” rating in a report on Thursday, June 18th. Twelve investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $193.19.
Check Out Our Latest Stock Report on ACN
Accenture Profile
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.
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