Principal Financial Group Inc. Buys 9,023 Shares of Accenture PLC $ACN

Key Points

• Principal Financial Group increased its Accenture stake by 1.2% in the first quarter, buying 9,023 additional shares and bringing its total holdings to 773,483 shares valued at about $153.4 million.
• Accenture also saw notable insider and institutional activity: CEO Atsushi Egawa sold 4,872 shares under a pre-arranged trading plan, while institutional investors continue to own about 75.14% of the stock.
• The company reported quarterly EPS of $3.80, beating estimates, and its board approved a $2 billion share repurchase plan along with a quarterly dividend of $1.63 per share (4.8% annualized yield).

Principal Financial Group Inc. lifted its stake in shares of Accenture PLC (NYSE:ACN - Free Report) by 1.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 773,483 shares of the information technology services provider's stock after acquiring an additional 9,023 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Accenture worth $153,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Triumph Capital Management bought a new stake in shares of Accenture during the 3rd quarter valued at about $26,000. Board of the Pension Protection Fund acquired a new position in Accenture in the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC bought a new position in shares of Accenture during the 4th quarter worth approximately $27,000. McMillan Office Inc. acquired a new stake in shares of Accenture during the 4th quarter worth approximately $27,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of Accenture in the 4th quarter valued at $27,000. 75.14% of the stock is currently owned by institutional investors.

Insider Activity

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

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Dbs Bank lowered shares of Accenture from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, June 23rd. BMO Capital Markets restated a "market perform" rating and issued a $150.00 target price on shares of Accenture in a research note on Friday, June 19th. Mizuho lowered their target price on Accenture from $280.00 to $226.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 23rd. Wolfe Research reissued an "outperform" rating and set a $200.00 target price on shares of Accenture in a report on Tuesday, June 16th. Finally, DA Davidson lowered their price target on shares of Accenture from $275.00 to $175.00 and set a "buy" rating on the stock in a report on Tuesday, June 23rd. Twelve 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $193.19.

Accenture Stock Performance

Accenture stock opened at $134.71 on Wednesday. The firm has a fifty day simple moving average of $158.58 and a two-hundred day simple moving average of $201.58. 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 PLC has a twelve month low of $118.15 and a twelve month high of $291.09. The company has a market capitalization of $89.96 billion, a PE ratio of 10.76, a P/E/G ratio of 1.37 and a beta of 1.13.

Accenture (NYSE:ACN - Get Free Report) last released its quarterly earnings data on Thursday, June 18th. The information technology services provider reported $3.80 EPS 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 firm had revenue of $18.72 billion for the quarter, compared to the consensus estimate of $18.78 billion. During the same quarter in the previous year, the business earned $3.49 earnings per share. The company's quarterly revenue was up 5.6% on a year-over-year basis. Accenture has set its FY 2026 guidance at 13.780-13.900 EPS. Research analysts expect that Accenture PLC will post 13.85 EPS for the current year.

Accenture declared that its Board of Directors has approved a share repurchase plan on Tuesday, June 23rd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are typically an indication 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. Stockholders of record on Thursday, July 9th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Thursday, July 9th. Accenture's dividend payout ratio is 52.08%.

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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