PNC Financial Services Group Inc. Sells 24,258 Shares of Accenture PLC $ACN

PNC Financial Services Group Inc. lowered its stake in Accenture PLC (NYSE:ACN) by 3.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 785,895 shares of the information technology services provider’s stock after selling 24,258 shares during the quarter. PNC Financial Services Group Inc. owned about 0.12% of Accenture worth $155,835,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ACN. Jaffetilchin Investment Partners LLC boosted its holdings in Accenture by 4.2% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 878 shares of the information technology services provider’s stock worth $236,000 after buying an additional 35 shares during the last quarter. Clayton Financial Group LLC increased its stake in shares of Accenture by 13.1% in the 4th quarter. Clayton Financial Group LLC now owns 329 shares of the information technology services provider’s stock valued at $88,000 after acquiring an additional 38 shares during the last quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. raised its position in shares of Accenture by 0.9% in the 3rd quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 4,416 shares of the information technology services provider’s stock valued at $1,089,000 after acquiring an additional 41 shares during the period. Peak Asset Management LLC boosted its stake in Accenture by 0.8% during the 4th quarter. Peak Asset Management LLC now owns 5,447 shares of the information technology services provider’s stock worth $1,461,000 after acquiring an additional 43 shares during the last quarter. Finally, SkyView Investment Advisors LLC grew its holdings in Accenture by 1.2% during the second quarter. SkyView Investment Advisors LLC now owns 3,751 shares of the information technology services provider’s stock valued at $1,108,000 after purchasing an additional 43 shares during the period. 75.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. TD Cowen lowered shares of Accenture from a “buy” rating to a “hold” rating and cut their target price for the stock from $258.00 to $150.00 in a report on Monday, June 22nd. William Blair lowered shares of Accenture from an “outperform” rating to a “market perform” rating in a report on Thursday, June 18th. Stifel Nicolaus lowered their price objective on shares of Accenture from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, June 3rd. The Goldman Sachs Group reduced 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. Finally, Royal Bank Of Canada decreased their target price on Accenture from $253.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, June 22nd. Twelve equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $192.96.

Accenture Price Performance

ACN stock opened at $140.12 on Thursday. The stock has a 50-day moving average price of $154.86 and a two-hundred day moving average price of $196.17. Accenture PLC has a 1 year low of $118.15 and a 1 year high of $291.09. The stock has a market cap of $93.58 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 1.46 and a beta of 1.13. 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 (NYSE:ACN) last posted its quarterly earnings data on Thursday, June 18th. The information technology services provider reported $3.80 earnings per share 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 company had revenue of $18.72 billion during the quarter, compared to analysts’ expectations of $18.78 billion. During the same period in the prior year, the firm earned $3.49 earnings per share. 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. Equities analysts forecast that Accenture PLC will post 13.85 EPS for the current fiscal year.

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders 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 of this dividend is Thursday, July 9th. Accenture’s payout ratio is currently 52.08%.

Accenture declared that its Board of Directors has authorized a stock buyback plan on Tuesday, June 23rd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Accenture

In related news, CEO Atsushi Egawa sold 4,872 shares of the 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 document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is currently owned by corporate 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.