Accenture (ACN) to Release Quarterly Earnings on Thursday

Accenture (NYSE:ACN) is projected to announce its earnings results before the market opens on Thursday, March 20th. Analysts expect the company to announce earnings of $2.84 per share and revenue of $16.64 billion for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping the consensus estimate of $3.43 by $0.16. The firm had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the firm posted $3.27 earnings per share. On average, analysts expect Accenture to post $13 EPS for the current fiscal year and $14 EPS for the next fiscal year.

Accenture Trading Up 2.3 %

ACN stock opened at $326.25 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. Accenture has a one year low of $278.69 and a one year high of $398.35. The company has a market capitalization of $204.16 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. The company’s 50 day moving average price is $362.51 and its two-hundred day moving average price is $358.14.

Analysts Set New Price Targets

Several brokerages recently commented on ACN. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price on the stock in a research note on Wednesday, January 8th. Piper Sandler reduced their price objective on shares of Accenture from $429.00 to $396.00 and set an “overweight” rating on the stock in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. StockNews.com downgraded shares of Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Finally, Morgan Stanley reduced their price objective on shares of Accenture from $380.00 to $372.00 and set an “equal weight” rating on the stock in a research report on Monday. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Accenture presently has a consensus rating of “Moderate Buy” and a consensus target price of $388.04.

Insider Buying and Selling at Accenture

In other news, CEO Julie Spellman Sweet sold 8,793 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of the sale, the chief executive officer now owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This represents a 42.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Angela Beatty sold 375 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the sale, the insider now directly owns 5,149 shares of the company’s stock, valued at $1,845,916.50. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,280 shares of company stock worth $8,316,190. Company insiders own 0.02% of the company’s stock.

Institutional Investors Weigh In On Accenture

An institutional investor recently raised its position in Accenture stock. Brighton Jones LLC raised its stake in Accenture plc (NYSE:ACN) by 36.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,438 shares of the information technology services provider’s stock after acquiring an additional 4,905 shares during the period. Brighton Jones LLC’s holdings in Accenture were worth $6,486,000 as of its most recent SEC filing. Institutional investors and hedge funds own 75.14% of the company’s stock.

About Accenture

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.