Accenture (ACN) Set to Announce Quarterly Earnings on Thursday

Posted by Defense World Staff on Jun 15th, 2023

Accenture (NYSE:ACN – Get Rating) is set to release its earnings data before the market opens on Thursday, June 22nd. Analysts expect Accenture to post earnings of $2.94 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Accenture (NYSE:ACN – Get Rating) last posted its earnings results on Thursday, March 23rd. The information technology services provider reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.20. Accenture had a return on equity of 30.73% and a net margin of 11.00%. The firm had revenue of $15.81 billion for the quarter, compared to analysts’ expectations of $15.59 billion. During the same period last year, the firm earned $2.54 EPS. The company’s quarterly revenue was up 5.1% on a year-over-year basis. On average, analysts expect Accenture to post $12 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Accenture Stock Down 0.0 %

NYSE:ACN opened at $315.05 on Thursday. Accenture has a 52 week low of $242.80 and a 52 week high of $322.88. The stock has a market capitalization of $199.07 billion, a PE ratio of 29.01, a price-to-earnings-growth ratio of 2.81 and a beta of 1.24. The stock’s 50-day moving average price is $287.05 and its 200-day moving average price is $279.25.

Accenture Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Thursday, April 13th were given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Wednesday, April 12th. Accenture’s dividend payout ratio (DPR) is presently 41.25%.

Analyst Upgrades and Downgrades

ACN has been the topic of a number of research reports. Morgan Stanley decreased their price target on shares of Accenture from $340.00 to $325.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 15th. JPMorgan Chase & Co. raised their price target on shares of Accenture from $311.00 to $314.00 and gave the company an “overweight” rating in a research note on Friday, March 24th. Wells Fargo & Company raised their price target on shares of Accenture from $289.00 to $294.00 and gave the company an “equal weight” rating in a research note on Friday, March 24th. Edward Jones raised shares of Accenture from a “hold” rating to a “buy” rating in a research note on Wednesday, April 5th. Finally, StockNews.com lowered shares of Accenture from a “buy” rating to a “hold” rating in a research note on Wednesday, May 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.53.

Insider Activity

In related news, CEO Julie Spellman Sweet sold 2,954 shares of Accenture stock in a transaction that occurred on Friday, April 14th. The shares were sold at an average price of $280.05, for a total value of $827,267.70. Following the completion of the sale, the chief executive officer now owns 24,459 shares in the company, valued at approximately $6,849,742.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction that occurred on Friday, April 14th. The shares were sold at an average price of $280.06, for a total value of $1,750,375.00. Following the completion of the sale, the insider now owns 174,084 shares in the company, valued at approximately $48,753,965.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Julie Spellman Sweet sold 2,954 shares of the business’s stock in a transaction on Friday, April 14th. The stock was sold at an average price of $280.05, for a total transaction of $827,267.70. Following the completion of the transaction, the chief executive officer now owns 24,459 shares of the company’s stock, valued at approximately $6,849,742.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,010 shares of company stock valued at $4,180,030. 0.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Accenture

Several institutional investors have recently modified their holdings of ACN. Norges Bank acquired a new position in shares of Accenture in the fourth quarter worth $1,850,765,000. Moneta Group Investment Advisors LLC lifted its position in shares of Accenture by 101,214.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,040,402 shares of the information technology services provider’s stock worth $1,078,141,000 after purchasing an additional 4,036,414 shares during the last quarter. Morgan Stanley lifted its position in shares of Accenture by 14.9% during the 4th quarter. Morgan Stanley now owns 16,642,841 shares of the information technology services provider’s stock worth $4,440,976,000 after purchasing an additional 2,163,582 shares during the last quarter. State Street Corp lifted its position in shares of Accenture by 2.7% during the 1st quarter. State Street Corp now owns 26,453,884 shares of the information technology services provider’s stock worth $7,560,765,000 after purchasing an additional 704,657 shares during the last quarter. Finally, CI Private Wealth LLC purchased a new stake in shares of Accenture during the 4th quarter worth $120,819,000. Institutional investors and hedge funds own 73.97% of the company’s stock.

Accenture Company Profile

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Accenture plc, a professional services company, provides strategy and consulting, interactive, industry X, song, and technology and operation 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 application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprises turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.