Accenture (NYSE:ACN) Updates Fiscal 2022 Earnings Guidance
Accenture (NYSE:ACN- Get a rating) updated its earnings guidance for fiscal 2022 on Thursday. share of $10.28. The company released a revenue forecast of $63.42 billion to $63.92 billion, compared to the consensus revenue estimate of $58.77 billion. Accenture also updated its guidance for the fourth quarter of 2022 regarding EPS.
Several stock analysts have weighed in on the company. Morgan Stanley cut its price target on Accenture from $390.00 to $385.00 and set an overweight rating for the stock in a Friday, June 24 report. Goldman Sachs Group lowered its price target on Accenture from $446.00 to $386.00 and set a neutral rating on the stock in a Tuesday, March 15 research note. BNP Paribas downgraded Accenture from an outperform rating to a neutral rating and set a price target of $320.00 for the stock. in a research note from Wednesday, June 29. Robert W. Baird lowered his price target on Accenture from $340.00 to $310.00 and set a neutral rating on the stock in a research note on Friday, June 24. To finish, StockNews.com launched a coverage on Accenture in a research note on Thursday, March 31. They issued a buy rating on the stock. Eight analysts gave the stock a hold rating and fourteen gave the company a buy rating. According to data from MarketBeat, Accenture currently has a Moderate Buy consensus rating and an average price target of $358.03.
NYSE: ACN opened at $275.94 on Thursday. The stock’s fifty-day moving average price is $289.20 and its two-hundred-day moving average price is $323.71. Accenture has a 52-week low of $268.17 and a 52-week high of $417.37. The company has a market capitalization of $174.55 billion, a price/earnings ratio of 26.76, a P/E/G ratio of 2.58 and a beta of 1.22.
Accenture (NYSE:ACN- Get a rating) last released its quarterly earnings data on Thursday, June 23. The information technology service provider reported earnings per share (EPS) of $2.79 for the quarter, missing the consensus estimate of $2.84 per ($0.05). Accenture had a return on equity of 31.50% and a net margin of 11.13%. During the same period last year, the company posted EPS of $2.40. Analysts expect Accenture to post EPS of 10.68 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 15. Shareholders of record on Thursday, July 14 will receive a dividend of $0.97 per share. This represents an annualized dividend of $3.88 and a dividend yield of 1.41%. The ex-dividend date is Wednesday, July 13. Accenture’s payout ratio is 37.63%.
In other Accenture news, General Counsel Joel Unruch sold 470 shares of the company in a transaction on Monday, April 18. The shares were sold at an average price of $315.06, for a total transaction of $148,078.20. Following the completion of the sale, the General Counsel now owns 26,427 shares of the company, valued at approximately $8,326,090.62. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Also, CEO Julie Spellman Sweet sold 3,287 shares of the company in a transaction on Monday, April 18. The shares were sold at an average price of $315.22, for a total transaction of $1,036,128.14. Following the sale, the CEO now owns 19,836 shares of the company, valued at approximately $6,252,703.92. Disclosure of this sale can be found here. Insiders sold a total of 10,757 shares of the company worth $3,386,681 during the last quarter. Company insiders own 0.07% of the company’s shares.
Several institutional investors and hedge funds have recently increased or reduced their stake in ACN. Clearbridge Investments LLC increased its stake in Accenture by 104.8% in the 1st quarter. Clearbridge Investments LLC now owns 441,451 shares of the information technology service provider worth $148,871,000 after purchasing an additional 225,943 shares during the period. Ensign Peak Advisors Inc increased its stake in Accenture by 14.4% in Q1. Ensign Peak Advisors Inc now owns 293,488 shares of the information technology service provider worth $98,973,000 after purchasing an additional 36,959 shares during the period. Mariner LLC increased its stake in Accenture by 6.8% in the first quarter. Mariner LLC now owns 197,360 shares of the information technology service provider worth $66,556,000 after purchasing an additional 12,495 shares during the period. Avalon Investment & Advisory increased its stake in Accenture by 1.1% in the first quarter. Avalon Investment & Advisory now owns 178,329 shares of the information technology service provider worth $60,138,000 after purchasing an additional 2,000 shares during the period. Finally, Employees Retirement System of Texas increased its stake in Accenture by 3.3% in the 1st quarter. Employees Retirement System of Texas now owns 169,689 shares of the information technology service provider worth $57,224,000 after purchasing an additional 5,396 shares during the period. Institutional investors and hedge funds hold 74.46% of the company’s shares.
About Accenture (Get a rating)
Accenture plc, a professional services firm, provides strategy and consulting, interactive, technology and operational services worldwide. The Company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation includes robotic process automation, natural language processing and virtual agents, and liquid application management services, as well as program, project and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption and value realization services; digitization of engineering, research and development; design and development of smart connected products; product platform engineering and modernization; activation of the product as a service; products related to production and operations; autonomous robotic systems; the digital transformation of investment projects; and digital industrial workforce solutions.
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