Accenture Plc (NYSE:ACN) – Investment analysts at Wedbush decreased their FY2020 earnings estimates for shares of Accenture in a research note issued to investors on Thursday, June 25th. Wedbush analyst M. Katri now anticipates that the information technology services provider will earn $7.65 per share for the year, down from their prior forecast of $7.70. Wedbush currently has a “Outperform” rating on the stock. Wedbush also issued estimates for Accenture’s Q4 2020 earnings at $1.75 EPS, Q1 2021 earnings at $2.14 EPS, Q2 2021 earnings at $1.88 EPS, Q3 2021 earnings at $2.16 EPS, Q4 2021 earnings at $2.01 EPS and FY2021 earnings at $8.19 EPS.
A number of other research analysts have also issued reports on ACN. Bank of America increased their target price on Accenture from $154.00 to $182.00 and gave the company an “underperform” rating in a research report on Thursday, June 18th. UBS Group increased their target price on Accenture from $160.00 to $215.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Moffett Nathanson upgraded Accenture from a “neutral” rating to a “buy” rating and set a $200.00 target price on the stock in a research report on Friday, March 20th. Exane BNP Paribas lowered Accenture from an “outperform” rating to a “neutral” rating in a research report on Wednesday, June 3rd. Finally, BNP Paribas downgraded Accenture from an “outperform” rating to a “neutral” rating in a research note on Wednesday, June 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $219.44.
Shares of NYSE:ACN opened at $212.72 on Monday. Accenture has a 1 year low of $137.15 and a 1 year high of $217.89. The firm has a market capitalization of $135.06 billion, a price-to-earnings ratio of 27.84, a price-to-earnings-growth ratio of 2.78 and a beta of 1.06. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.38 and a quick ratio of 1.38. The business’s 50 day moving average price is $200.11 and its 200-day moving average price is $193.12.
Accenture (NYSE:ACN) last announced its earnings results on Thursday, June 25th. The information technology services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Accenture had a return on equity of 32.04% and a net margin of 11.11%. The firm had revenue of $10.99 billion for the quarter, compared to analyst estimates of $10.89 billion. During the same quarter last year, the firm posted $1.93 EPS. The business’s revenue was down 1.0% on a year-over-year basis.
Large investors have recently modified their holdings of the stock. Solstein Capital LLC purchased a new position in shares of Accenture in the 4th quarter valued at about $844,000. Weaver Consulting Group boosted its stake in shares of Accenture by 47.9% in the 1st quarter. Weaver Consulting Group now owns 312 shares of the information technology services provider’s stock valued at $51,000 after buying an additional 101 shares during the period. Raymond James & Associates lifted its stake in Accenture by 4.5% during the fourth quarter. Raymond James & Associates now owns 504,162 shares of the information technology services provider’s stock worth $106,165,000 after purchasing an additional 21,861 shares during the last quarter. Granite Investment Advisors LLC lifted its stake in Accenture by 2.5% during the first quarter. Granite Investment Advisors LLC now owns 21,354 shares of the information technology services provider’s stock worth $3,486,000 after purchasing an additional 516 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its stake in Accenture by 61.9% during the first quarter. Integrated Wealth Concepts LLC now owns 4,635 shares of the information technology services provider’s stock worth $757,000 after purchasing an additional 1,772 shares during the last quarter. 73.64% of the stock is owned by hedge funds and other institutional investors.
In related news, General Counsel Joel Unruch sold 855 shares of the firm’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $175.18, for a total transaction of $149,778.90. Following the completion of the sale, the general counsel now directly owns 24,689 shares of the company’s stock, valued at approximately $4,325,019.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kathleen R. Mcclure sold 1,125 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $185.00, for a total value of $208,125.00. Following the sale, the chief financial officer now directly owns 23,085 shares of the company’s stock, valued at $4,270,725. The disclosure for this sale can be found here. Insiders sold a total of 26,847 shares of company stock valued at $4,939,033 over the last ninety days. Corporate insiders own 0.10% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Thursday, July 16th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Wednesday, July 15th. Accenture’s dividend payout ratio (DPR) is presently 43.48%.
Accenture Company Profile
Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.
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