Accenture plc to Post FY2024 Earnings of $11.89 Per Share, William Blair Forecasts (NYSE:ACN)

Accenture plc (NYSE:ACN) – Analysts at William Blair reduced their FY2024 earnings estimates for shares of Accenture in a research report issued to clients and investors on Thursday, June 20th. William Blair analyst M. Nolan now expects that the information technology services provider will post earnings per share of $11.89 for the year, down from their prior estimate of $12.09. The consensus estimate for Accenture’s current full-year earnings is $12.00 per share. William Blair also issued estimates for Accenture’s Q4 2024 earnings at $2.74 EPS, Q3 2025 earnings at $3.31 EPS, Q4 2025 earnings at $3.20 EPS, FY2025 earnings at $12.29 EPS and FY2026 earnings at $13.03 EPS.

Other equities research analysts have also recently issued research reports about the stock. Bank of America reduced their price objective on shares of Accenture from $419.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Wedbush reduced their price objective on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 12th. Mizuho reduced their price objective on shares of Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. TD Cowen reduced their price objective on shares of Accenture from $294.00 to $293.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Guggenheim reiterated a “buy” rating and set a $395.00 price objective on shares of Accenture in a research report on Friday, May 24th. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $358.09.

Accenture Trading Up 0.9 %

NYSE ACN opened at $308.98 on Monday. The stock has a market cap of $207.25 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 3.35 and a beta of 1.21. Accenture has a 12 month low of $278.69 and a 12 month high of $387.51. The company’s 50 day moving average is $301.15 and its two-hundred day moving average is $337.29.

Accenture (NYSE:ACN) last released its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). Accenture had a return on equity of 27.48% and a net margin of 10.79%. The firm had revenue of $16.47 billion for the quarter, compared to the consensus estimate of $16.55 billion. During the same quarter in the previous year, the business posted $3.19 EPS. Accenture’s revenue was down .6% on a year-over-year basis.

Institutional Trading of Accenture

A number of large investors have recently made changes to their positions in the stock. McKinley Carter Wealth Services Inc. raised its holdings in shares of Accenture by 7.4% in the fourth quarter. McKinley Carter Wealth Services Inc. now owns 29,204 shares of the information technology services provider’s stock valued at $10,248,000 after acquiring an additional 2,008 shares in the last quarter. TrinityPoint Wealth LLC raised its holdings in shares of Accenture by 3.6% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock valued at $1,279,000 after acquiring an additional 125 shares in the last quarter. Buckingham Capital Management Inc. raised its holdings in shares of Accenture by 3.4% in the fourth quarter. Buckingham Capital Management Inc. now owns 27,559 shares of the information technology services provider’s stock valued at $9,671,000 after acquiring an additional 900 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Accenture by 2.3% in the third quarter. Ameriprise Financial Inc. now owns 4,284,770 shares of the information technology services provider’s stock valued at $1,315,832,000 after acquiring an additional 96,414 shares in the last quarter. Finally, Redwood Investments LLC raised its holdings in shares of Accenture by 8.3% in the fourth quarter. Redwood Investments LLC now owns 20,227 shares of the information technology services provider’s stock valued at $7,098,000 after acquiring an additional 1,542 shares in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Accenture news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the transaction, the insider now directly owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jean-Marc Ollagnier sold 6,250 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the completion of the sale, the chief executive officer now directly owns 161,581 shares of the company’s stock, valued at $51,045,053.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the sale, the insider now directly owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The disclosure for this sale can be found here. Insiders sold 20,083 shares of company stock valued at $6,302,285 over the last three months. 0.07% of the stock is owned by company insiders.

Accenture Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th will be paid a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, July 11th. Accenture’s payout ratio is 47.25%.

Accenture Company Profile

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.