Accenture Plc (NYSE:ACN) – William Blair cut their Q4 2020 earnings per share (EPS) estimates for shares of Accenture in a research note issued to investors on Thursday, June 25th. William Blair analyst M. Nolan now forecasts that the information technology services provider will post earnings per share of $1.71 for the quarter, down from their previous estimate of $1.79.
Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, June 25th. The information technology services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.06. Accenture had a net margin of 11.11% and a return on equity of 32.04%. The firm had revenue of $10.99 billion during the quarter, compared to analysts’ expectations of $10.89 billion. During the same quarter in the prior year, the company earned $1.93 EPS. The company’s revenue was down 1.0% compared to the same quarter last year.
Several other brokerages have also recently weighed in on ACN. JPMorgan Chase & Co. lowered their price target on shares of Accenture from $227.00 to $188.00 and set an “overweight” rating for the company in a research report on Tuesday, March 17th. Wedbush reaffirmed an “outperform” rating on shares of Accenture in a research report on Thursday, June 25th. UBS Group boosted their price objective on shares of Accenture from $160.00 to $215.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Wells Fargo & Co lowered shares of Accenture from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $190.00 to $200.00 in a research note on Thursday, June 18th. They noted that the move was a valuation call. Finally, Moffett Nathanson upgraded shares of Accenture from a “neutral” rating to a “buy” rating and set a $200.00 price objective for the company in a research note on Friday, March 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Accenture presently has an average rating of “Buy” and a consensus price target of $219.44.
Shares of ACN opened at $212.72 on Monday. The company has a 50 day moving average price of $200.11 and a 200-day moving average price of $193.12. Accenture has a fifty-two week low of $137.15 and a fifty-two week high of $217.89. The stock has a market capitalization of $135.06 billion, a PE ratio of 27.84, a PEG ratio of 2.78 and a beta of 1.06. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.38 and a current ratio of 1.38.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, July 16th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.50%. Accenture’s payout ratio is currently 43.48%.
In other news, Chairman David Rowland sold 5,405 shares of the stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $185.00, for a total value of $999,925.00. Following the sale, the chairman now owns 17,199 shares in the company, valued at $3,181,815. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jean-Marc Ollagnier sold 4,499 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $175.21, for a total transaction of $788,269.79. Following the completion of the sale, the insider now owns 180,110 shares in the company, valued at approximately $31,557,073.10. The disclosure for this sale can be found here. Insiders sold 26,847 shares of company stock worth $4,939,033 in the last quarter. Company insiders own 0.10% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Total Clarity Wealth Management Inc. purchased a new stake in Accenture during the fourth quarter worth $26,000. Islay Capital Management LLC purchased a new stake in Accenture during the fourth quarter worth $31,000. Mark Sheptoff Financial Planning LLC boosted its holdings in Accenture by 200.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 150 shares of the information technology services provider’s stock worth $32,000 after buying an additional 100 shares in the last quarter. FSA Wealth Management LLC purchased a new stake in Accenture during the fourth quarter worth $34,000. Finally, HHM Wealth Advisors LLC purchased a new stake in Accenture during the first quarter worth $29,000. 73.64% of the stock is currently owned by hedge funds and other institutional investors.
Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.
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