Midwest Trust Co Buys 34,529 Shares of Accenture PLC $ACN

Key Points

• Midwest Trust Co more than doubled its Accenture stake in the first quarter, buying 34,529 additional shares to bring its total holdings to 67,548 shares worth about $13.4 million.
• Accenture reported better-than-expected quarterly earnings of $3.80 per share, though revenue came in slightly below estimates at $18.72 billion; the company also reaffirmed guidance for FY 2026 EPS of 13.780 to 13.900.
• The company announced a quarterly dividend of $1.63 per share and approved a $2 billion share repurchase program, while analysts remain cautious overall with a consensus rating of Hold.

Midwest Trust Co raised its stake in shares of Accenture PLC (NYSE:ACN - Free Report) by 104.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,548 shares of the information technology services provider's stock after buying an additional 34,529 shares during the quarter. Midwest Trust Co's holdings in Accenture were worth $13,394,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ACN. Rossmore Private Capital grew its holdings in shares of Accenture by 11.5% during the first quarter. Rossmore Private Capital now owns 21,772 shares of the information technology services provider's stock worth $4,317,000 after purchasing an additional 2,247 shares in the last quarter. Darwin Wealth Management LLC grew its holdings in shares of Accenture by 27.1% during the 1st quarter. Darwin Wealth Management LLC now owns 1,148 shares of the information technology services provider's stock valued at $228,000 after purchasing an additional 245 shares during the last quarter. Simplicity Wealth LLC increased its holdings in shares of Accenture by 3.9% in the first quarter. Simplicity Wealth LLC now owns 6,108 shares of the information technology services provider's stock worth $1,211,000 after buying an additional 230 shares during the period. Osprey Private Wealth LLC increased its stake in Accenture by 16.6% in the 1st quarter. Osprey Private Wealth LLC now owns 24,934 shares of the information technology services provider's stock worth $4,944,000 after purchasing an additional 3,550 shares during the period. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Accenture by 15.8% in the first quarter. Sequoia Financial Advisors LLC now owns 163,843 shares of the information technology services provider's stock worth $32,488,000 after buying an additional 22,359 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Stock Performance

Shares of ACN opened at $135.19 on Monday. Accenture PLC has a 52 week low of $118.15 and a 52 week high of $291.09. The stock has a market cap of $90.28 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 1.34 and a beta of 1.13. The business has a 50-day simple moving average of $160.28 and a two-hundred day simple moving average of $203.47. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.15.

Accenture (NYSE:ACN - Get Free Report) last posted its quarterly earnings results on Thursday, June 18th. The information technology services provider reported $3.80 earnings per share for the quarter, topping 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 business had revenue of $18.72 billion during the quarter, compared to analyst estimates of $18.78 billion. During the same period in the prior year, the business posted $3.49 earnings per share. The company's 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, analysts expect that Accenture PLC will post 13.85 EPS for the current year.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 9th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $6.52 dividend on an annualized basis and a yield of 4.8%. Accenture's payout ratio is currently 52.08%.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ACN. Royal Bank Of Canada reduced their price target on Accenture from $253.00 to $175.00 and set an "outperform" rating on the stock in a report on Monday, June 22nd. BMO Capital Markets reiterated a "market perform" rating and issued a $150.00 price target on shares of Accenture in a research note on Friday, June 19th. DA Davidson lowered their price objective on Accenture from $275.00 to $175.00 and set a "buy" rating for the company in a research note on Tuesday, June 23rd. Susquehanna decreased their target price on shares of Accenture from $186.00 to $140.00 and set a "neutral" rating for the company in a report on Monday, June 22nd. Finally, 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. Twelve investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $193.19.

Insider Activity at Accenture

In related news, CEO Atsushi Egawa sold 4,872 shares of the company'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 completion of the transaction, the chief executive officer owned 12,802 shares in the company, valued at approximately $2,267,746.28. This represents a 27.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company 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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