Elevation Point Wealth Partners LLC Acquires 15,722 Shares of Accenture PLC $ACN

Key Points

• Elevation Point Wealth Partners LLC boosted its Accenture stake by 309.5% in the first quarter, buying 15,722 additional shares to bring its total to 20,801 shares worth about $4.13 million.
• Accenture’s latest quarterly results topped earnings expectations, with EPS of $3.80 versus estimates of $3.70, while revenue rose 5.6% year over year to $18.72 billion.
• The company also approved a $2 billion share repurchase program and declared a quarterly dividend of $1.63 per share, equal to a 4.7% yield based on the article’s pricing.

Elevation Point Wealth Partners LLC lifted its holdings in shares of Accenture PLC (NYSE:ACN - Free Report) by 309.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 20,801 shares of the information technology services provider's stock after purchasing an additional 15,722 shares during the period. Elevation Point Wealth Partners LLC's holdings in Accenture were worth $4,125,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Accenture by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 66,070,930 shares of the information technology services provider's stock valued at $17,726,831,000 after acquiring an additional 854,361 shares during the last quarter. State Street Corp increased its stake in Accenture by 0.5% in the 4th quarter. State Street Corp now owns 28,264,675 shares of the information technology services provider's stock worth $7,583,462,000 after purchasing an additional 129,610 shares during the period. Capital International Investors increased its stake in Accenture by 2.0% in the 4th quarter. Capital International Investors now owns 17,471,554 shares of the information technology services provider's stock worth $4,687,867,000 after purchasing an additional 343,420 shares during the period. Geode Capital Management LLC lifted its position in Accenture by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 14,656,436 shares of the information technology services provider's stock valued at $3,922,212,000 after purchasing an additional 218,719 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Accenture by 5.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,693,994 shares of the information technology services provider's stock valued at $2,869,199,000 after purchasing an additional 546,198 shares during the period. 75.14% of the stock is owned by institutional investors.

Insider Transactions at Accenture

In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of the firm's stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $177.14, for a total transaction of $863,026.08. Following the completion of the transaction, the chief executive officer 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.02% of the company's stock.

Accenture Stock Up 0.0%

Shares of Accenture stock opened at $137.40 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.15. Accenture PLC has a 12-month low of $118.15 and a 12-month high of $307.77. The company has a market cap of $91.76 billion, a P/E ratio of 10.97, a PEG ratio of 1.36 and a beta of 1.13. The company's fifty day simple moving average is $164.30 and its two-hundred day simple moving average is $208.64.

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

Accenture announced that its board has approved a stock repurchase program on Tuesday, June 23rd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is 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 given a dividend of $1.63 per share. The ex-dividend date is Thursday, July 9th. This represents a $6.52 annualized dividend and a dividend yield of 4.7%. Accenture's payout ratio is currently 52.08%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ACN shares. Morgan Stanley decreased their target price 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. Royal Bank Of Canada cut their price target on shares of Accenture from $253.00 to $175.00 and set an "outperform" rating on the stock in a report on Monday, June 22nd. Susquehanna decreased their price objective on shares of Accenture from $186.00 to $140.00 and set a "neutral" rating on the stock in a research report on Monday, June 22nd. Oppenheimer set a $201.00 target price on shares of Accenture in a report on Monday, June 8th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Accenture from $199.00 to $140.00 and set a "hold" rating on the stock in a research note on Monday, June 22nd. Twelve investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $195.00.

Accenture Company 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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