Convergence Investment Partners LLC Purchases 9,477 Shares of Accenture PLC $ACN

Key Points

• Convergence Investment Partners boosted its Accenture stake by 1,099.4% in the first quarter, buying 9,477 shares and bringing its total holding to 10,339 shares worth about $2.05 million.
• Accenture reported better-than-expected quarterly earnings of $3.80 per share, though revenue of $18.72 billion came in slightly below estimates. The company also raised FY2026 guidance to 13.780-13.900 EPS.
• The company announced a quarterly dividend of $1.63 per share and authorized a $2 billion stock buyback, signaling confidence in its shares. Even so, analysts remain mixed, with a consensus rating of “Hold” and a target price of $192.96.

Convergence Investment Partners LLC lifted its position in Accenture PLC (NYSE:ACN - Free Report) by 1,099.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,339 shares of the information technology services provider's stock after buying an additional 9,477 shares during the period. Convergence Investment Partners LLC's holdings in Accenture were worth $2,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Triumph Capital Management bought a new stake in shares of Accenture during the 3rd quarter valued at about $26,000. Laurel Wealth Advisors LLC bought a new position in shares of Accenture in the 4th quarter worth approximately $27,000. McMillan Office Inc. purchased a new position in shares of Accenture in the fourth quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in Accenture during the fourth quarter valued at approximately $27,000. Finally, Private Wealth Management Group LLC increased its holdings in 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 valued at $29,000 after buying an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company's stock.

Accenture Stock Up 0.7%

Shares of ACN stock opened at $144.63 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.34 and a quick ratio of 1.34. Accenture PLC has a one year low of $118.15 and a one year high of $291.09. The company's fifty day moving average price is $155.82 and its 200-day moving average price is $197.97. The company has a market capitalization of $96.58 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.49 and a beta of 1.13.

Accenture (NYSE:ACN - Get Free Report) last issued its quarterly earnings results on Thursday, June 18th. The information technology services provider reported $3.80 earnings per share (EPS) for the quarter, topping 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 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 business posted $3.49 EPS. Accenture's revenue for the quarter was up 5.6% compared to the same quarter last year. Accenture has set its FY 2026 guidance at 13.780-13.900 EPS. Sell-side analysts expect that Accenture PLC will post 13.85 EPS for the current fiscal year.

Accenture Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 9th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Thursday, July 9th. Accenture's dividend payout ratio (DPR) is 52.08%.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ACN shares. Morgan Stanley dropped their price target on shares of Accenture from $177.00 to $130.00 and set an "equal weight" rating on the stock in a research note on Monday, June 22nd. The Goldman Sachs Group decreased 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. JPMorgan Chase & Co. lowered their target price on Accenture from $247.00 to $201.00 and set an "overweight" rating on the stock in a research report on Monday, June 8th. Stifel Nicolaus reduced their price target on Accenture from $315.00 to $270.00 and set a "buy" rating for the company in a research report on Wednesday, June 3rd. Finally, Weiss Ratings downgraded Accenture from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $192.96.

Insider Buying and Selling

In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $2,267,746.28. This represents a 27.57% decrease in their position. 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. Corporate insiders own 0.02% of the company's stock.

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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