Accenture PLC (NYSE:ACN) – Equities researchers at Wedbush increased their Q2 2018 earnings estimates for Accenture in a research report issued on Tuesday. Wedbush analyst M. Katri now expects that the information technology services provider will earn $1.45 per share for the quarter, up from their previous estimate of $1.44. Wedbush also issued estimates for Accenture’s Q3 2018 earnings at $1.71 EPS.
Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, September 28th. The information technology services provider reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.01. Accenture had a net margin of 9.37% and a return on equity of 42.65%. The company had revenue of $9.15 billion for the quarter, compared to the consensus estimate of $9.01 billion. During the same quarter in the prior year, the firm earned $1.31 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year.
Several other analysts also recently issued reports on the stock. Deutsche Bank upped their price target on shares of Accenture to $165.00 in a report on Monday. Robert W. Baird reissued a “hold” rating and set a $155.00 price objective on shares of Accenture in a research note on Thursday, December 7th. Zacks Investment Research raised shares of Accenture from a “hold” rating to a “buy” rating and set a $165.00 price objective on the stock in a research note on Tuesday, November 28th. Evercore ISI upped their price objective on shares of Accenture from $148.00 to $162.00 and gave the company a “reduce” rating in a research note on Thursday, November 16th. Finally, Pivotal Research started coverage on shares of Accenture in a research note on Wednesday, November 8th. They set a “buy” rating and a $165.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Accenture presently has an average rating of “Buy” and a consensus target price of $145.77.
Shares of Accenture (NYSE ACN) traded down $0.68 during midday trading on Thursday, hitting $151.42. 1,596,800 shares of the company’s stock traded hands, compared to its average volume of 2,110,823. Accenture has a 12 month low of $112.31 and a 12 month high of $152.80. The stock has a market capitalization of $97,070.00, a P/E ratio of 25.74, a PEG ratio of 2.25 and a beta of 1.08.
The business also recently declared a Semi-Annual dividend, which was paid on Wednesday, November 15th. Investors of record on Thursday, October 19th were given a dividend of $1.33 per share. This represents a yield of 1.97%. The ex-dividend date was Wednesday, October 18th. Accenture’s dividend payout ratio (DPR) is 48.90%.
In related news, COO Johan Deblaere sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $135.05, for a total transaction of $675,250.00. Following the completion of the transaction, the chief operating officer now owns 120,817 shares of the company’s stock, valued at $16,316,335.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Pierre Nanterme sold 38,589 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $135.03, for a total transaction of $5,210,672.67. Following the transaction, the chief executive officer now directly owns 179,083 shares of the company’s stock, valued at approximately $24,181,577.49. The disclosure for this sale can be found here. Insiders have sold 83,325 shares of company stock valued at $11,479,125 in the last ninety days. 0.21% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Westwood Holdings Group Inc. increased its position in shares of Accenture by 1,161.1% in the first quarter. Westwood Holdings Group Inc. now owns 687,543 shares of the information technology services provider’s stock worth $82,423,000 after acquiring an additional 633,024 shares in the last quarter. Credit Suisse AG increased its position in shares of Accenture by 17.7% in the first quarter. Credit Suisse AG now owns 1,326,717 shares of the information technology services provider’s stock worth $159,047,000 after acquiring an additional 199,275 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Accenture in the first quarter worth $342,000. HighTower Advisors LLC increased its position in shares of Accenture by 23.4% in the first quarter. HighTower Advisors LLC now owns 64,462 shares of the information technology services provider’s stock worth $7,730,000 after acquiring an additional 12,238 shares in the last quarter. Finally, Harbour Capital Advisors LLC acquired a new stake in shares of Accenture in the first quarter worth $122,000. 72.51% of the stock is owned by hedge funds and other institutional investors.
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Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.
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