Wall Street analysts forecast that Accenture Plc (NYSE:ACN) will announce $10.02 billion in sales for the current quarter, Zacks reports. Nine analysts have provided estimates for Accenture’s earnings, with the lowest sales estimate coming in at $10.00 billion and the highest estimate coming in at $10.11 billion. Accenture posted sales of $8.87 billion in the same quarter last year, which suggests a positive year over year growth rate of 13%. The company is scheduled to report its next quarterly earnings results on Thursday, June 28th.
On average, analysts expect that Accenture will report full-year sales of $39.19 billion for the current financial year, with estimates ranging from $39.04 billion to $39.44 billion. For the next fiscal year, analysts forecast that the firm will post sales of $42.02 billion per share, with estimates ranging from $41.55 billion to $42.69 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Accenture.
Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, March 22nd. The information technology services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.09. The business had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.31 billion. Accenture had a net margin of 9.18% and a return on equity of 41.50%. The business’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.33 earnings per share.
ACN has been the subject of a number of research analyst reports. Wedbush restated an “outperform” rating and issued a $180.00 price target (up previously from $165.00) on shares of Accenture in a research note on Tuesday, March 20th. Robert W. Baird lifted their price target on shares of Accenture from $162.00 to $165.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 20th. Pivotal Research restated a “buy” rating and issued a $180.00 price target on shares of Accenture in a research note on Thursday, April 26th. ValuEngine upgraded shares of Accenture from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Barclays lifted their price target on shares of Accenture from $152.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Friday, March 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $161.37.
Shares of NYSE:ACN traded down $0.02 during midday trading on Friday, reaching $155.31. The company had a trading volume of 1,673,404 shares, compared to its average volume of 2,243,605. The firm has a market cap of $99.70 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. Accenture has a one year low of $119.10 and a one year high of $165.58.
In related news, CFO David Rowland sold 3,270 shares of the company’s stock in a transaction dated Friday, April 20th. The shares were sold at an average price of $152.93, for a total value of $500,081.10. Following the completion of the sale, the chief financial officer now owns 20,243 shares of the company’s stock, valued at $3,095,761.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Pierre Nanterme sold 36,858 shares of the company’s stock in a transaction dated Monday, March 26th. The stock was sold at an average price of $150.80, for a total transaction of $5,558,186.40. Following the completion of the sale, the chief executive officer now directly owns 357,405 shares of the company’s stock, valued at approximately $53,896,674. The disclosure for this sale can be found here. Insiders sold 53,828 shares of company stock valued at $8,145,630 in the last ninety days. Corporate insiders own 0.21% of the company’s stock.
A number of hedge funds have recently bought and sold shares of ACN. Deutsche Bank AG lifted its holdings in Accenture by 34.3% in the 4th quarter. Deutsche Bank AG now owns 1,453,595 shares of the information technology services provider’s stock valued at $222,522,000 after acquiring an additional 370,895 shares during the last quarter. Wealthfront Inc. lifted its holdings in Accenture by 9.6% in the 4th quarter. Wealthfront Inc. now owns 23,247 shares of the information technology services provider’s stock valued at $3,559,000 after acquiring an additional 2,043 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in Accenture by 2.6% in the 4th quarter. Lazard Asset Management LLC now owns 4,338,133 shares of the information technology services provider’s stock valued at $664,123,000 after acquiring an additional 109,935 shares during the last quarter. Ironvine Capital Partners LLC acquired a new stake in Accenture in the 4th quarter valued at about $2,040,000. Finally, Brookstone Capital Management lifted its holdings in Accenture by 25.3% in the 4th quarter. Brookstone Capital Management now owns 3,521 shares of the information technology services provider’s stock valued at $539,000 after acquiring an additional 711 shares during the last quarter. 73.99% of the stock is owned by institutional investors and hedge funds.
Accenture Company Profile
Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.
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