Accenture plc (NYSE:ACN – Get Rating) – Analysts at Wedbush lifted their Q1 2023 earnings per share (EPS) estimates for Accenture in a research note issued to investors on Wednesday, June 29th. Wedbush analyst M. Katri now expects that the information technology services provider will earn $3.09 per share for the quarter, up from their prior forecast of $2.75. The consensus estimate for Accenture’s current full-year earnings is $10.68 per share. Wedbush also issued estimates for Accenture’s Q2 2023 earnings at $3.11 EPS, Q3 2023 earnings at $3.35 EPS and FY2023 earnings at $12.77 EPS.
Several other analysts have also recently issued reports on the company. Barclays cut their target price on Accenture from $455.00 to $370.00 and set an “overweight” rating for the company in a research report on Friday, June 24th. Cowen cut their target price on Accenture from $330.00 to $325.00 and set an “outperform” rating for the company in a research report on Friday, June 24th. The Goldman Sachs Group dropped their price target on Accenture from $446.00 to $386.00 and set a “neutral” rating for the company in a research note on Tuesday, March 15th. StockNews.com started coverage on Accenture in a research note on Thursday, March 31st. They set a “buy” rating for the company. Finally, Robert W. Baird dropped their price target on Accenture from $340.00 to $310.00 and set a “neutral” rating for the company in a research note on Friday, June 24th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $358.03.
Accenture (NYSE:ACN – Get Rating) last released its earnings results on Thursday, June 23rd. The information technology services provider reported $2.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.84 by ($0.05). Accenture had a return on equity of 31.50% and a net margin of 11.13%. During the same period in the previous year, the firm posted $2.40 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Thursday, July 14th will be paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Wednesday, July 13th. Accenture’s dividend payout ratio is currently 37.63%.
In other Accenture news, CEO Julie Spellman Sweet sold 3,287 shares of the firm’s stock in a transaction on Monday, April 18th. The stock was sold at an average price of $315.22, for a total transaction of $1,036,128.14. Following the transaction, the chief executive officer now directly owns 19,836 shares in the company, valued at approximately $6,252,703.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ellyn Shook sold 750 shares of the firm’s stock in a transaction on Monday, April 25th. The stock was sold at an average price of $310.55, for a total value of $232,912.50. Following the transaction, the insider now owns 21,846 shares in the company, valued at $6,784,275.30. The disclosure for this sale can be found here. Insiders have sold a total of 10,757 shares of company stock valued at $3,386,681 over the last three months. 0.07% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Equitable Holdings Inc. increased its holdings in Accenture by 24.7% during the 4th quarter. Equitable Holdings Inc. now owns 1,334 shares of the information technology services provider’s stock worth $553,000 after purchasing an additional 264 shares during the period. FDx Advisors Inc. increased its holdings in shares of Accenture by 6.3% in the 4th quarter. FDx Advisors Inc. now owns 169,310 shares of the information technology services provider’s stock valued at $70,188,000 after acquiring an additional 10,044 shares during the period. SkyView Investment Advisors LLC increased its holdings in shares of Accenture by 697.5% in the 4th quarter. SkyView Investment Advisors LLC now owns 25,032 shares of the information technology services provider’s stock valued at $797,000 after acquiring an additional 21,893 shares during the period. Mayflower Financial Advisors LLC increased its holdings in shares of Accenture by 6.0% in the 1st quarter. Mayflower Financial Advisors LLC now owns 1,508 shares of the information technology services provider’s stock valued at $509,000 after acquiring an additional 86 shares during the period. Finally, Van ECK Associates Corp increased its holdings in shares of Accenture by 4.9% in the 4th quarter. Van ECK Associates Corp now owns 85,404 shares of the information technology services provider’s stock valued at $35,404,000 after acquiring an additional 3,973 shares during the period. Institutional investors own 74.46% of the company’s stock.
Accenture Company Profile (Get Rating)
Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.
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