Q4 2023 Earnings Estimate for Accenture plc Issued By Wedbush (NYSE:ACN)

Accenture plc (NYSE:ACN – Get Rating) – Investment analysts at Wedbush decreased their Q4 2023 EPS estimates for Accenture in a report issued on Sunday, March 12th. Wedbush analyst M. Katri now anticipates that the information technology services provider will post earnings of $2.88 per share for the quarter, down from their previous forecast of $2.97. Wedbush has a “Outperform” rating and a $300.00 price target on the stock. The consensus estimate for Accenture’s current full-year earnings is $11.45 per share. Wedbush also issued estimates for Accenture’s Q1 2024 earnings at $2.98 EPS, Q3 2024 earnings at $3.17 EPS, Q4 2024 earnings at $2.90 EPS and FY2024 earnings at $12.13 EPS.

Several other brokerages have also commented on ACN. Wells Fargo & Company began coverage on Accenture in a research report on Monday, January 30th. They set an “equal weight” rating and a $289.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on Accenture from $306.00 to $327.00 in a research report on Thursday, December 15th. Cowen lifted their price target on Accenture from $295.00 to $300.00 in a research report on Monday, December 19th. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a research report on Thursday, March 2nd. Finally, Robert W. Baird lowered their price target on Accenture from $310.00 to $290.00 and set a “neutral” rating for the company in a research report on Monday, December 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $323.55.

Accenture Trading Up 0.5 %

Shares of Accenture stock opened at $252.48 on Tuesday. The firm has a market capitalization of $159.12 billion, a P/E ratio of 22.93, a P/E/G ratio of 2.33 and a beta of 1.25. The business has a fifty day simple moving average of $274.75 and a two-hundred day simple moving average of $275.84. Accenture has a 12 month low of $242.95 and a 12 month high of $345.30.

Accenture (NYSE:ACN – Get Rating) last released its quarterly earnings results on Friday, December 16th. The information technology services provider reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.17. The business had revenue of $15.75 billion for the quarter, compared to analysts’ expectations of $15.58 billion. Accenture had a net margin of 11.31% and a return on equity of 31.49%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. United Bank raised its holdings in shares of Accenture by 6.3% during the 1st quarter. United Bank now owns 2,969 shares of the information technology services provider’s stock worth $1,001,000 after acquiring an additional 176 shares in the last quarter. Weitz Investment Management Inc. raised its holdings in shares of Accenture by 1.3% during the 1st quarter. Weitz Investment Management Inc. now owns 89,400 shares of the information technology services provider’s stock worth $30,148,000 after acquiring an additional 1,168 shares in the last quarter. Fund Management at Engine No. 1 LLC purchased a new stake in shares of Accenture during the 1st quarter worth approximately $1,805,000. Guardian Wealth Management Inc. raised its holdings in shares of Accenture by 0.6% during the 1st quarter. Guardian Wealth Management Inc. now owns 7,292 shares of the information technology services provider’s stock worth $2,459,000 after acquiring an additional 41 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Accenture by 104.8% during the 1st quarter. Clearbridge Investments LLC now owns 441,451 shares of the information technology services provider’s stock worth $148,871,000 after acquiring an additional 225,943 shares in the last quarter. 73.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Accenture

In other Accenture news, Director Paula A. Price sold 750 shares of the business’s stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $258.77, for a total transaction of $194,077.50. Following the completion of the sale, the director now directly owns 6,697 shares in the company, valued at approximately $1,732,982.69. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Melissa A. Burgum sold 1,027 shares of the business’s stock in a transaction that occurred on Friday, January 13th. The stock was sold at an average price of $280.99, for a total transaction of $288,576.73. Following the completion of the transaction, the chief accounting officer now directly owns 11,467 shares in the company, valued at approximately $3,222,112.33. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Paula A. Price sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $258.77, for a total value of $194,077.50. Following the transaction, the director now owns 6,697 shares of the company’s stock, valued at $1,732,982.69. The disclosure for this sale can be found here. Insiders sold a total of 39,015 shares of company stock worth $10,884,179 in the last three months. 0.08% of the stock is currently owned by company insiders.

Accenture Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 15th. Shareholders of record on Tuesday, January 10th were paid a dividend of $1.12 per share. The ex-dividend date was Wednesday, January 11th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.77%. Accenture’s dividend payout ratio is currently 40.69%.

Accenture Company Profile

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Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following geographical segments: North America, Europe and Growth Markets. The company was founded in 1989 and is headquartered in Dublin, Ireland.