Kestra Advisory Services LLC cut its holdings in Accenture PLC (NYSE:ACN – Free Report) by 11.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,396 shares of the information technology services provider’s stock after selling 4,998 shares during the period. Kestra Advisory Services LLC’s holdings in Accenture were worth $7,613,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Accenture in the fourth quarter valued at approximately $2,146,995,000. Voloridge Investment Management LLC purchased a new stake in shares of Accenture during the 3rd quarter worth approximately $311,694,000. Franklin Resources Inc. lifted its position in shares of Accenture by 15.9% during 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 buying an additional 1,122,855 shares during the last quarter. Pzena Investment Management LLC grew its position in shares of Accenture by 84.0% in the 1st 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 during the last quarter. Finally, FIL Ltd raised its stake in Accenture by 33.5% during the 4th quarter. FIL Ltd now owns 3,921,049 shares of the information technology services provider’s stock worth $1,052,017,000 after acquiring an additional 983,840 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on ACN shares. Truist Financial reduced their price target on shares of Accenture from $210.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, June 22nd. Stifel Nicolaus cut their target price on Accenture from $315.00 to $270.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Evercore set a $180.00 target price on Accenture in a research report on Thursday, June 18th. Argus dropped their price target on Accenture from $335.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, June 22nd. Finally, Berenberg Bank cut their price target on Accenture from $273.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, June 17th. Twelve research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $193.19.
Insider Activity
In other news, CEO Atsushi Egawa sold 4,872 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $177.14, for a total transaction of $863,026.08. Following the transaction, the chief executive officer directly owned 12,802 shares in the company, valued at $2,267,746.28. The trade was a 27.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is currently owned by company insiders.
Accenture Stock Up 2.4%
ACN opened at $138.50 on Tuesday. Accenture PLC has a 52 week low of $118.15 and a 52 week high of $291.09. The business has a 50 day moving average price of $159.47 and a two-hundred day moving average price of $202.54. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.15. The company has a market cap of $92.49 billion, a PE ratio of 11.06, a P/E/G ratio of 1.34 and a beta of 1.13.
Accenture (NYSE:ACN – Get Free Report) last announced its earnings results on Thursday, June 18th. The information technology services provider reported $3.80 earnings per share for the quarter, beating the consensus estimate of $3.70 by $0.10. Accenture had a return on equity of 26.47% and a net margin of 10.66%.The company had revenue of $18.72 billion for the quarter, compared to the consensus estimate of $18.78 billion. During the same period last year, the business posted $3.49 EPS. The company’s revenue was up 5.6% on a year-over-year basis. Accenture has set its FY 2026 guidance at 13.780-13.900 EPS. As a group, research analysts anticipate that Accenture PLC will post 13.85 EPS for the current year.
Accenture Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders 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%.
Accenture declared that its Board of Directors has initiated a share repurchase program on Tuesday, June 23rd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the information technology services provider to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.
About Accenture
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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