Wall Street analysts expect Accenture Plc (NYSE:ACN) to report $9.98 billion in sales for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Accenture’s earnings. The highest sales estimate is $10.04 billion and the lowest is $9.91 billion. Accenture reported sales of $9.15 billion in the same quarter last year, which suggests a positive year over year growth rate of 9.1%. The firm is scheduled to report its next earnings report before the market opens on Thursday, September 27th.
According to Zacks, analysts expect that Accenture will report full-year sales of $39.41 billion for the current fiscal year, with estimates ranging from $39.34 billion to $39.46 billion. For the next financial year, analysts anticipate that the business will report sales of $41.99 billion per share, with estimates ranging from $41.52 billion to $43.07 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Accenture.
Accenture (NYSE:ACN) last announced its earnings results on Thursday, June 28th. The information technology services provider reported $1.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.07. Accenture had a return on equity of 42.01% and a net margin of 9.76%. The business had revenue of $10.32 billion during the quarter, compared to analyst estimates of $10.04 billion. During the same quarter in the previous year, the business earned $1.52 earnings per share. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year.
ACN has been the subject of several recent analyst reports. Zacks Investment Research upgraded Accenture from a “hold” rating to a “buy” rating and set a $176.00 target price for the company in a research report on Tuesday, May 22nd. Pivotal Research set a $180.00 target price on Accenture and gave the company a “buy” rating in a research report on Tuesday, June 5th. UBS Group upgraded Accenture from a “neutral” rating to a “positive” rating in a research report on Tuesday, June 19th. Susquehanna Bancshares upgraded Accenture from a “neutral” rating to a “positive” rating and boosted their price target for the company from $165.00 to $190.00 in a report on Tuesday, June 19th. Finally, Stifel Nicolaus boosted their price target on Accenture from $170.00 to $179.00 and gave the company a “buy” rating in a report on Thursday, June 21st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $162.11.
Shares of NYSE:ACN opened at $171.64 on Friday. Accenture has a 1 year low of $132.27 and a 1 year high of $172.51. The company has a market cap of $114.93 billion, a price-to-earnings ratio of 29.04, a price-to-earnings-growth ratio of 2.29 and a beta of 0.97.
In related news, insider Ellyn Shook sold 4,375 shares of the business’s stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $168.02, for a total value of $735,087.50. Following the completion of the transaction, the insider now owns 31,707 shares of the company’s stock, valued at $5,327,410.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Pierre Nanterme sold 32,376 shares of the business’s stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $162.39, for a total transaction of $5,257,538.64. The disclosure for this sale can be found here. Insiders sold 54,357 shares of company stock valued at $8,865,112 in the last three months. 0.21% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. HRT Financial LLC acquired a new position in shares of Accenture during the second quarter worth $494,000. HM Payson & Co. increased its position in shares of Accenture by 2.5% during the second quarter. HM Payson & Co. now owns 235,334 shares of the information technology services provider’s stock worth $38,498,000 after purchasing an additional 5,679 shares in the last quarter. Schroder Investment Management Group increased its position in shares of Accenture by 23.0% during the second quarter. Schroder Investment Management Group now owns 342,255 shares of the information technology services provider’s stock worth $56,301,000 after purchasing an additional 63,953 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Accenture by 3.6% during the second quarter. Advisors Asset Management Inc. now owns 114,509 shares of the information technology services provider’s stock worth $18,733,000 after purchasing an additional 4,012 shares in the last quarter. Finally, Cleararc Capital Inc. increased its position in shares of Accenture by 4.7% during the second quarter. Cleararc Capital Inc. now owns 16,574 shares of the information technology services provider’s stock worth $2,711,000 after purchasing an additional 749 shares in the last quarter. 70.50% of the stock is owned by institutional investors.
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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