Pzena Investment Management LLC Buys 1,097,961 Shares of Accenture PLC $ACN

Pzena Investment Management LLC grew its holdings in shares of Accenture PLC (NYSE:ACNFree Report) by 84.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 2,405,683 shares of the information technology services provider’s stock after purchasing an additional 1,097,961 shares during the quarter. Accenture makes up approximately 1.6% of Pzena Investment Management LLC’s investment portfolio, making the stock its 24th largest position. Pzena Investment Management LLC’s holdings in Accenture were worth $477,023,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Jaffetilchin Investment Partners LLC boosted its position in shares of Accenture by 4.2% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 878 shares of the information technology services provider’s stock worth $236,000 after acquiring an additional 35 shares during the last quarter. Clayton Financial Group LLC lifted its holdings in Accenture by 13.1% during the 4th quarter. Clayton Financial Group LLC now owns 329 shares of the information technology services provider’s stock valued at $88,000 after buying an additional 38 shares in the last quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. boosted its holdings in shares of Accenture by 0.9% in the third quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 4,416 shares of the information technology services provider’s stock valued at $1,089,000 after purchasing an additional 41 shares during the period. Peak Asset Management LLC grew its position in shares of Accenture by 0.8% during the 4th quarter. Peak Asset Management LLC now owns 5,447 shares of the information technology services provider’s stock worth $1,461,000 after buying an additional 43 shares in the last quarter. Finally, SkyView Investment Advisors LLC increased its position in Accenture by 1.2% during the 2nd quarter. SkyView Investment Advisors LLC now owns 3,751 shares of the information technology services provider’s stock valued at $1,108,000 after purchasing an additional 43 shares during the period. 75.14% of the stock is currently owned by institutional investors.

Accenture Stock Up 5.2%

Shares of ACN opened at $130.96 on Thursday. The company has a market capitalization of $87.46 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 1.23 and a beta of 1.14. Accenture PLC has a 52 week low of $118.15 and a 52 week high of $307.77. The stock’s 50-day moving average price is $166.50 and its 200-day moving average price is $210.09. 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 announced its quarterly 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. Accenture had a return on equity of 26.47% and a net margin of 10.66%.The company had revenue of $18.72 billion during the quarter, compared to the consensus estimate of $18.78 billion. During the same period in the previous year, the company posted $3.49 earnings per share. Accenture’s revenue for the quarter was up 5.6% on a year-over-year basis. Accenture has set its FY 2026 guidance at 13.780-13.900 EPS. On average, sell-side analysts predict that Accenture PLC will post 13.85 EPS for the current year.

Accenture announced that its Board of Directors has approved a stock repurchase plan 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 repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Accenture Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 9th will be issued 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 yield of 5.0%. Accenture’s dividend payout ratio is 52.08%.

Insider Buying and Selling

In other 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 transaction of $863,026.08. Following the sale, the chief executive officer directly owned 12,802 shares of the company’s stock, valued at $2,267,746.28. This represents a 27.57% decrease in their position. The transaction 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. Corporate insiders own 0.02% of the company’s stock.

Key Headlines Impacting Accenture

Here are the key news stories impacting Accenture this week:

Analyst Upgrades and Downgrades

Several research firms have recently commented on ACN. Citigroup reduced their price target on Accenture from $215.00 to $195.00 and set a “neutral” rating for the company in a research report on Monday, June 1st. Piper Sandler set a $282.00 target price on shares of Accenture in a research note on Thursday, March 5th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Accenture from $199.00 to $140.00 and set a “hold” rating on the stock in a research note on Monday, June 22nd. Oppenheimer set a $201.00 price target on shares of Accenture in a report on Monday, June 8th. Finally, Evercore set a $180.00 price objective on shares of Accenture in a report on Thursday, June 18th. Twelve research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, Accenture has a consensus rating of “Hold” and a consensus target price of $195.00.

Read 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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