Assetmark Inc. Has $16.71 Million Stake in Accenture PLC $ACN

Key Points

• Assetmark Inc. increased its Accenture stake by 246.7% in the first quarter, ending with 84,278 shares valued at about $16.71 million.
• Accenture reported quarterly earnings of $3.80 per share, beating estimates, while revenue came in at $18.72 billion and rose 5.6% from a year earlier.
• The company authorized a $2.0 billion share buyback and declared a quarterly dividend of $1.63 per share, which implies a 4.5% annualized yield.

Assetmark Inc. grew its stake in Accenture PLC (NYSE:ACN - Free Report) by 246.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,278 shares of the information technology services provider's stock after purchasing an additional 59,968 shares during the quarter. Assetmark Inc.'s holdings in Accenture were worth $16,712,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ACN. Triumph Capital Management acquired a new position in shares of Accenture during the 3rd quarter worth approximately $26,000. Laurel Wealth Advisors LLC bought a new position in Accenture during the 4th quarter worth $27,000. McMillan Office Inc. bought a new position in Accenture during the 4th quarter worth $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in Accenture in the 4th quarter valued at $27,000. Finally, Private Wealth Management Group LLC lifted its position in shares of Accenture by 96.4% during the 4th quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 53 shares during the period. Institutional investors own 75.14% of the company's stock.

Accenture Stock Down 0.0%

Shares of NYSE:ACN opened at $143.56 on Monday. Accenture PLC has a 52-week low of $118.15 and a 52-week high of $291.09. The company has a market capitalization of $95.87 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 1.49 and a beta of 1.13. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.34 and a current ratio of 1.34. The company has a fifty day moving average of $156.38 and a 200-day moving average of $198.86.

Accenture (NYSE:ACN - Get Free Report) last released its quarterly earnings results on Thursday, June 18th. The information technology services provider reported $3.80 earnings per share for the quarter, topping 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 analysts' expectations of $18.78 billion. During the same period in the previous year, the business posted $3.49 earnings per share. The business's quarterly revenue was up 5.6% compared to the same quarter last year. Accenture has set its FY 2026 guidance at 13.780-13.900 EPS. On average, equities analysts predict that Accenture PLC will post 13.85 EPS for the current fiscal year.

Accenture declared that its board has initiated 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 often a sign that the company's leadership believes its shares are undervalued.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 9th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Thursday, July 9th. Accenture's payout ratio is currently 52.08%.

Insider Buying and Selling

In other news, CEO Atsushi Egawa sold 4,872 shares of Accenture stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $177.14, for a total value of $863,026.08. Following the completion of the transaction, the chief executive officer directly owned 12,802 shares of the company's stock, valued at approximately $2,267,746.28. This trade represents a 27.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ACN has been the topic of a number of analyst reports. Argus reduced their price objective on shares of Accenture from $335.00 to $220.00 and set a "buy" rating on the stock in a research note on Monday, June 22nd. Stifel Nicolaus cut their price target on shares of Accenture from $315.00 to $270.00 and set a "buy" rating for the company in a report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $136.00 price objective on shares of Accenture in a research note on Friday, July 10th. Berenberg Bank lowered their price objective on shares of Accenture from $273.00 to $220.00 and set a "buy" rating for the company in a research report on Wednesday, June 17th. Finally, The Goldman Sachs Group reduced their target price on Accenture from $270.00 to $230.00 and set a "neutral" rating on the stock in a report on Thursday, June 18th. Twelve research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $193.19.

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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