Keybank National Association OH Sells 16,072 Shares of Accenture PLC $ACN

Key Points

• Keybank National Association OH cut its Accenture stake by 6.0% in the first quarter, selling 16,072 shares and leaving it with 251,002 shares valued at about $49.8 million.
• Accenture reported fiscal Q3 earnings that beat expectations, with EPS of $3.80 versus $3.70 expected, while revenue rose 5.6% year over year to $18.72 billion.
• The company also announced a $2.0 billion share buyback and a quarterly dividend of $1.63 per share, which implies an annualized yield of 4.7%.

Keybank National Association OH trimmed its stake in Accenture PLC (NYSE:ACN - Free Report) by 6.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 251,002 shares of the information technology services provider's stock after selling 16,072 shares during the quarter. Keybank National Association OH's holdings in Accenture were worth $49,771,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ACN. Triumph Capital Management purchased a new stake in Accenture during the 3rd quarter valued at about $26,000. Board of the Pension Protection Fund purchased a new position in Accenture in the fourth quarter worth about $27,000. Laurel Wealth Advisors LLC bought a new position in shares of Accenture in the fourth quarter worth approximately $27,000. McMillan Office Inc. purchased a new stake in shares of Accenture during the fourth quarter valued at approximately $27,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of Accenture during the fourth quarter valued at approximately $27,000. 75.14% of the stock is currently owned by institutional investors.

Accenture Trading Up 4.8%

Shares of Accenture stock opened at $137.40 on Friday. Accenture PLC has a 1-year low of $118.15 and a 1-year high of $307.77. The company's fifty day simple moving average is $165.36 and its 200-day simple moving average is $209.14. 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 stock has a market capitalization of $91.76 billion, a PE ratio of 10.97, a P/E/G ratio of 1.30 and a beta of 1.14.

Accenture (NYSE:ACN - Get Free Report) last announced its earnings results on Thursday, June 18th. The information technology services provider reported $3.80 EPS for the quarter, topping analysts' consensus estimates of $3.70 by $0.10. The company had revenue of $18.72 billion for the quarter, compared to analysts' expectations of $18.78 billion. Accenture had a return on equity of 26.47% and a net margin of 10.66%.Accenture's revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the firm earned $3.49 EPS. Accenture has set its FY 2026 guidance at 13.780-13.900 EPS. As a group, equities analysts anticipate that Accenture PLC will post 13.85 earnings per share for the current year.

Accenture Dividend Announcement

The company 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 $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Thursday, July 9th. Accenture's dividend payout ratio is presently 52.08%.

Accenture announced that its Board of Directors has initiated a share buyback program on Tuesday, June 23rd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several research firms recently issued reports on ACN. Royal Bank Of Canada lowered their price objective on Accenture from $253.00 to $175.00 and set an "outperform" rating on the stock in a research report on Monday, June 22nd. Susquehanna reduced their target price on Accenture from $186.00 to $140.00 and set a "neutral" rating for the company in a report on Monday, June 22nd. Jefferies Financial Group decreased their price target on Accenture from $210.00 to $185.00 and set a "hold" rating for the company in a research note on Monday, June 15th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $200.00 price objective on shares of Accenture in a research report on Monday, June 22nd. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Accenture in a report on Tuesday, June 9th. Twelve research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $195.00.

Insider Activity

In other news, CEO Atsushi Egawa sold 4,872 shares of the firm's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $177.14, for a total transaction of $863,026.08. Following the sale, the chief executive officer directly owned 12,802 shares in the company, valued at $2,267,746.28. This trade represents a 27.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is currently owned by company insiders.

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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