PNC Financial Services Group Inc. Has $155.84 Million Stock Position in Accenture PLC $ACN

PNC Financial Services Group Inc. lowered its stake in shares of 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 institutional investor owned 785,895 shares of the information technology services provider’s stock after selling 24,258 shares during the period. PNC Financial Services Group Inc.’s holdings in Accenture were worth $155,835,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of Accenture by 36.2% in the 4th quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider’s stock valued at $6,486,000 after purchasing an additional 4,905 shares during the period. Sivia Capital Partners LLC grew its holdings in Accenture by 46.9% during the second quarter. Sivia Capital Partners LLC now owns 2,066 shares of the information technology services provider’s stock worth $618,000 after purchasing an additional 660 shares during the period. United Bank increased its position in Accenture by 49.8% during the second quarter. United Bank now owns 3,639 shares of the information technology services provider’s stock worth $1,088,000 after buying an additional 1,209 shares during the last quarter. Bank of Nova Scotia raised its stake in Accenture by 23.0% in the second quarter. Bank of Nova Scotia now owns 828 shares of the information technology services provider’s stock valued at $247,000 after buying an additional 155 shares during the period. Finally, Main Street Financial Solutions LLC lifted its position in shares of Accenture by 4.2% in the second quarter. Main Street Financial Solutions LLC now owns 1,767 shares of the information technology services provider’s stock valued at $528,000 after buying an additional 72 shares during the last quarter. 75.14% of the stock is owned by institutional investors.

Accenture Stock Performance

NYSE:ACN opened at $140.12 on Thursday. The stock has a 50 day simple moving average of $154.86 and a 200 day simple moving average of $196.17. The stock has a market cap of $93.58 billion, a P/E ratio of 11.19, a PEG ratio of 1.46 and a beta of 1.13. Accenture PLC has a 1-year low of $118.15 and a 1-year high of $291.09. 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 issued its quarterly earnings data on Thursday, June 18th. The information technology services provider reported $3.80 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 firm had revenue of $18.72 billion for the quarter, compared to analyst estimates of $18.78 billion. During the same period in the prior year, the firm posted $3.49 EPS. The company’s revenue for the quarter 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 anticipate 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. Investors of record on Thursday, July 9th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a 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 announced that its board has authorized a share repurchase plan on Tuesday, June 23rd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the information technology services provider to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ACN. Robert W. Baird set a $190.00 target price on Accenture in a research note on Thursday, June 18th. Berenberg Bank cut their price target on Accenture from $273.00 to $220.00 and set a “buy” rating for the company in a report on Wednesday, June 17th. Oppenheimer set a $201.00 price objective on shares of Accenture in a research report on Monday, June 8th. Citigroup decreased their price objective on shares of Accenture from $215.00 to $195.00 and set a “neutral” rating on the stock in a report on Monday, June 1st. Finally, Truist Financial cut their target price on shares of Accenture from $210.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, June 22nd. Twelve analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $192.96.

Insiders Place Their Bets

In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of Accenture stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $177.14, for a total value of $863,026.08. Following the completion of the sale, the chief executive officer owned 12,802 shares in the company, valued at $2,267,746.28. The trade was a 27.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is owned by company 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.