Accenture (NYSE:ACN) Issues Quarterly Earnings Results

Accenture (NYSE:ACNGet Free Report) posted its earnings results on Thursday. The information technology services provider reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.11, RTT News reports. The firm had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.85 billion. Accenture had a return on equity of 29.08% and a net margin of 10.65%. The company’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.69 earnings per share.

Accenture Price Performance

NYSE:ACN opened at $337.49 on Friday. The company has a market cap of $211.71 billion, a P/E ratio of 31.28, a P/E/G ratio of 3.53 and a beta of 1.20. The firm’s fifty day moving average price is $370.57 and its two-hundred day moving average price is $339.99. Accenture has a one year low of $259.30 and a one year high of $387.51.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 11th will be paid a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Wednesday, April 10th. Accenture’s dividend payout ratio (DPR) is presently 47.82%.

Insider Transactions at Accenture

In other Accenture news, CEO Manish Sharma sold 1,486 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $370.39, for a total value of $550,399.54. Following the transaction, the chief executive officer now directly owns 4,503 shares of the company’s stock, valued at approximately $1,667,866.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Manish Sharma sold 1,486 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $370.39, for a total transaction of $550,399.54. Following the transaction, the chief executive officer now owns 4,503 shares in the company, valued at $1,667,866.17. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Melissa A. Burgum sold 3,010 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $371.80, for a total value of $1,119,118.00. Following the completion of the sale, the chief accounting officer now owns 9,193 shares of the company’s stock, valued at $3,417,957.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,000 shares of company stock worth $9,549,498. 0.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Chilton Capital Management LLC grew its position in Accenture by 180.0% during the fourth quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock worth $25,000 after buying an additional 45 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new position in shares of Accenture in the fourth quarter worth $27,000. Strategic Investment Solutions Inc. IL bought a new stake in Accenture during the first quarter worth about $28,000. Ables Iannone Moore & Associates Inc. bought a new position in Accenture in the 4th quarter valued at about $29,000. Finally, BluePath Capital Management LLC bought a new stake in shares of Accenture during the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 70.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Redburn Atlantic boosted their price objective on Accenture from $410.00 to $445.00 and gave the company a “buy” rating in a research report on Tuesday. Citigroup reduced their price target on shares of Accenture from $430.00 to $400.00 and set a “buy” rating for the company in a report on Friday. Stifel Nicolaus upped their target price on shares of Accenture from $363.00 to $395.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. BNP Paribas upgraded Accenture from a “neutral” rating to an “outperform” rating and set a $440.00 price target on the stock in a report on Wednesday, January 17th. Finally, Guggenheim began coverage on Accenture in a report on Tuesday. They set a “buy” rating and a $425.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Accenture has an average rating of “Moderate Buy” and an average price target of $382.77.

Read Our Latest Stock Analysis on ACN

Accenture Company Profile

(Get Free Report)

Accenture plc, a professional services company, provides strategy and consulting, 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 comprising 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 comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.

Further Reading

Earnings History for Accenture (NYSE:ACN)

Receive News & Ratings for Accenture Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture and related companies with MarketBeat.com's FREE daily email newsletter.