Sound Income Strategies LLC Has $12.13 Million Stock Position in Accenture PLC $ACN

Sound Income Strategies LLC raised its position in Accenture PLC (NYSE:ACN) by 11,510.0% during the first quarter, HoldingsChannel.com reports. The firm owned 61,533 shares of the information technology services provider’s stock after buying an additional 61,003 shares during the quarter. Sound Income Strategies LLC’s holdings in Accenture were worth $12,126,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Triumph Capital Management bought a new stake in shares of Accenture in the 3rd quarter valued at approximately $26,000. Board of the Pension Protection Fund bought a new position in Accenture during the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC bought a new position in Accenture during the fourth quarter valued at approximately $27,000. McMillan Office Inc. acquired a new stake in Accenture in the fourth quarter valued at approximately $27,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Accenture in the fourth quarter worth approximately $27,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Price Performance

Shares of Accenture stock opened at $137.40 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $165.36 and a 200-day simple moving average of $209.14. The stock has a market capitalization of $91.76 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 1.30 and a beta of 1.14. Accenture PLC has a 1-year low of $118.15 and a 1-year high of $307.77.

Accenture (NYSE:ACN) last posted its earnings results 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. The business had revenue of $18.72 billion for the quarter, compared to analyst estimates of $18.78 billion. Accenture had a net margin of 10.66% and a return on equity of 26.47%. Accenture’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $3.49 EPS. Accenture has set its FY 2026 guidance at 13.780-13.900 EPS. On average, sell-side analysts expect that Accenture PLC will post 13.85 earnings per share for the current year.

Accenture Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Thursday, July 9th. Accenture’s dividend payout ratio (DPR) is currently 52.08%.

Accenture declared that its Board of Directors has approved a stock buyback program on Tuesday, June 23rd that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Accenture from $247.00 to $201.00 and set an “overweight” rating on the stock in a report on Monday, June 8th. Robert W. Baird set a $190.00 price objective on shares of Accenture in a report on Thursday, June 18th. Truist Financial lowered their target price on shares of Accenture from $210.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, June 22nd. BMO Capital Markets restated a “market perform” rating and set a $150.00 target price on shares of Accenture in a report on Friday, June 19th. Finally, Argus reduced their price target on Accenture from $335.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, June 22nd. Twelve equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Accenture currently has a consensus rating of “Hold” and a consensus price target of $195.00.

Insider Activity at Accenture

In related news, CEO Atsushi Egawa sold 4,872 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was 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 of the company’s stock, valued at approximately $2,267,746.28. The trade was a 27.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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.