Evercore Wealth Management LLC Sells 35,811 Shares of Accenture PLC $ACN

Evercore Wealth Management LLC cut its stake in Accenture PLC (NYSE:ACN) by 27.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 96,981 shares of the information technology services provider’s stock after selling 35,811 shares during the period. Evercore Wealth Management LLC’s holdings in Accenture were worth $19,230,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of ACN. Triumph Capital Management acquired a new stake in shares of Accenture in the third quarter valued at approximately $26,000. Laurel Wealth Advisors LLC acquired a new position in Accenture during the 4th quarter worth $27,000. McMillan Office Inc. bought a new position in Accenture in the 4th quarter valued at $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Accenture in the 4th quarter valued at $27,000. Finally, Private Wealth Management Group LLC raised its position in shares of Accenture by 96.4% during the fourth quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 53 shares during the last quarter. 75.14% of the stock is owned by institutional investors.

Accenture Trading Up 4.9%

NYSE:ACN opened at $154.22 on Tuesday. Accenture PLC has a 1-year low of $118.15 and a 1-year high of $291.09. The business’s 50-day moving average price is $153.46 and its two-hundred day moving average price is $193.65. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $102.99 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.52 and a beta of 1.13.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, June 18th. The information technology services provider reported $3.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.70 by $0.10. The company had revenue of $18.72 billion during 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 for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.49 EPS. Accenture has set its FY 2026 guidance at 13.780-13.900 EPS. On average, equities analysts expect that Accenture PLC will post 13.85 earnings per share for the current year.

Accenture announced that its board has approved a share buyback plan on Tuesday, June 23rd that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication 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 dividend of $1.63 per share. The ex-dividend date is Thursday, July 9th. This represents a $6.52 dividend on an annualized basis and a yield of 4.2%. Accenture’s payout ratio is currently 52.08%.

Insider Buying and Selling

In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $177.14, for a total value of $863,026.08. Following the sale, the chief executive officer directly 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 document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Guggenheim lowered their price objective on Accenture from $225.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, June 22nd. BMO Capital Markets restated a “market perform” rating and set a $150.00 target price on shares of Accenture in a research report on Friday, June 19th. JPMorgan Chase & Co. lowered their price target on shares of Accenture from $247.00 to $201.00 and set an “overweight” rating for the company in a research report on Monday, June 8th. Evercore set a $180.00 price target on shares of Accenture in a research note on Thursday, June 18th. Finally, The Goldman Sachs Group cut their price objective on shares of Accenture from $270.00 to $230.00 and set a “neutral” rating on the stock in a report on Thursday, June 18th. Twelve equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $192.96.

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.