Edgestream Partners L.P. Has $5.98 Million Stake in Accenture PLC $ACN

Edgestream Partners L.P. grew its stake in shares of Accenture PLC (NYSE:ACN) by 85.2% in the first quarter, Holdings Channel reports. The institutional investor owned 30,161 shares of the information technology services provider’s stock after purchasing an additional 13,875 shares during the period. Edgestream Partners L.P.’s holdings in Accenture were worth $5,981,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ACN. Kentucky Retirement Systems grew its position in Accenture by 33.5% during the first quarter. Kentucky Retirement Systems now owns 52,487 shares of the information technology services provider’s stock worth $10,408,000 after buying an additional 13,184 shares in the last quarter. Centaurus Financial Inc. raised its holdings in Accenture by 2.8% in the 1st quarter. Centaurus Financial Inc. now owns 6,752 shares of the information technology services provider’s stock valued at $1,339,000 after acquiring an additional 185 shares in the last quarter. Cim LLC lifted its position in shares of Accenture by 2.4% in the 1st quarter. Cim LLC now owns 6,994 shares of the information technology services provider’s stock worth $1,387,000 after acquiring an additional 166 shares during the period. Bull Harbor Capital LLC acquired a new stake in shares of Accenture during the 1st quarter worth approximately $227,000. Finally, Strategic Investment Advisors MI increased its position in shares of Accenture by 166.3% during the first quarter. Strategic Investment Advisors MI now owns 4,274 shares of the information technology services provider’s stock valued at $849,000 after purchasing an additional 2,669 shares during the period. Institutional investors own 75.14% of the company’s stock.

Accenture Stock Performance

Shares of NYSE:ACN opened at $163.70 on Friday. 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 business’s fifty day moving average price is $152.82 and its two-hundred day moving average price is $191.29. Accenture PLC has a fifty-two week low of $118.15 and a fifty-two week high of $291.09. The stock has a market capitalization of $109.32 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 1.79 and a beta of 1.13.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, June 18th. The information technology services provider reported $3.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the business earned $3.49 earnings per share. The business’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. As a group, analysts predict that Accenture PLC will post 13.85 EPS for the current fiscal year.

Accenture announced that its board has authorized a stock buyback program 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 reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

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. The ex-dividend date is Thursday, July 9th. This represents a $6.52 dividend on an annualized basis and a yield of 4.0%. Accenture’s payout ratio is 52.08%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Susquehanna reduced their target price on Accenture from $186.00 to $140.00 and set a “neutral” rating for the company in a research report on Monday, June 22nd. BNP Paribas Exane lowered their price target on shares of Accenture from $180.00 to $130.00 and set a “neutral” rating on the stock in a report on Friday, June 26th. HSBC reduced their price objective on shares of Accenture from $220.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday, April 14th. Oppenheimer set a $201.00 target price on shares of Accenture in a research report on Monday, June 8th. Finally, Truist Financial dropped their price target on shares of Accenture from $210.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, June 22nd. Twelve research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $192.96.

Accenture 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.