10,050 Shares in Accenture PLC $ACN Acquired by Canandaigua National Bank & Trust Co.

Key Points

• Canandaigua National Bank & Trust acquired 10,050 Accenture shares in the second quarter, worth approximately $1.25 million. Institutional investors collectively own 75.14% of the company.
• Accenture reported quarterly EPS of $3.80, beating estimates of $3.70, while revenue rose 5.6% year over year to $18.72 billion. The company also authorized a $2 billion share-buyback program and declared an annualized dividend of $6.52 per share.
• Accenture’s stock opened at $170.27, significantly below its 52-week high of $291.09. Analysts maintain a consensus “Hold” rating with an average price target of $192.96, while General Counsel Joel Unruch sold 10,498 shares under a Rule 10b5-1 plan.

Canandaigua National Bank & Trust Co. purchased a new position in Accenture PLC (NYSE:ACN - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,050 shares of the information technology services provider's stock, valued at approximately $1,251,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACN. Brighton Jones LLC increased its holdings in Accenture by 36.2% in the 4th quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider's stock valued at $6,486,000 after purchasing an additional 4,905 shares in the last quarter. Sivia Capital Partners LLC grew its stake in shares of Accenture by 46.9% in the second quarter. Sivia Capital Partners LLC now owns 2,066 shares of the information technology services provider's stock valued at $618,000 after buying an additional 660 shares in the last quarter. United Bank lifted its position in Accenture by 49.8% during the 2nd quarter. United Bank now owns 3,639 shares of the information technology services provider's stock worth $1,088,000 after acquiring an additional 1,209 shares in the last quarter. Bank of Nova Scotia grew its position in Accenture by 23.0% in the second quarter. Bank of Nova Scotia now owns 828 shares of the information technology services provider's stock valued at $247,000 after acquiring an additional 155 shares in the last quarter. Finally, Main Street Financial Solutions LLC lifted its position in shares of Accenture by 4.2% during the second quarter. Main Street Financial Solutions LLC now owns 1,767 shares of the information technology services provider's stock worth $528,000 after purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company's stock.

Insider Buying and Selling at Accenture

In related news, General Counsel Joel Unruch sold 10,498 shares of the company's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $162.98, for a total value of $1,710,964.04. Following the completion of the sale, the general counsel owned 17,735 shares of the company's stock, valued at $2,890,450.30. This represents a 37.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is currently owned by corporate insiders.

Accenture Price Performance

Shares of NYSE ACN opened at $170.27 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market capitalization of $113.71 billion, a PE ratio of 13.60, a P/E/G ratio of 1.76 and a beta of 1.09. Accenture PLC has a 1-year low of $118.15 and a 1-year high of $291.09. The business's fifty day moving average price is $152.02 and its two-hundred day moving average price is $188.04.

Accenture (NYSE:ACN - Get Free Report) last released its quarterly earnings results on Thursday, June 18th. The information technology services provider reported $3.80 EPS for the quarter, topping the consensus estimate of $3.70 by $0.10. Accenture had a net margin of 10.66% and a return on equity of 26.47%. The business had revenue of $18.72 billion during the quarter, compared to analyst estimates of $18.78 billion. During the same quarter in the prior year, the firm earned $3.49 earnings per share. The company's quarterly revenue 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, research analysts expect that Accenture PLC will post 13.85 EPS for the current year.

Accenture declared that its board has approved a share buyback plan on Tuesday, June 23rd that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Thursday, July 9th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Thursday, July 9th. Accenture's payout ratio is 52.08%.

Analyst Upgrades and Downgrades

ACN has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $136.00 target price on shares of Accenture in a research report on Friday, July 10th. Argus dropped their target price on shares of Accenture from $335.00 to $220.00 and set a "buy" rating for the company in a research report on Monday, June 22nd. Citigroup reduced their price target on shares of Accenture from $215.00 to $195.00 and set a "neutral" rating on the stock in a research report on Monday, June 1st. BNP Paribas Exane lowered their price objective on Accenture from $180.00 to $130.00 and set a "neutral" rating for the company in a report on Friday, June 26th. Finally, Susquehanna reduced their target price on Accenture from $186.00 to $140.00 and set a "neutral" rating on the stock in a report on Monday, June 22nd. Twelve investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $192.96.

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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