Zacks: Brokerages Expect Accenture Plc (NYSE:ACN) Will Post Quarterly Sales of $11.08 Billion

Wall Street brokerages predict that Accenture Plc (NYSE:ACN) will report sales of $11.08 billion for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Accenture’s earnings. The highest sales estimate is $11.13 billion and the lowest is $11.03 billion. Accenture posted sales of $10.15 billion during the same quarter last year, which would indicate a positive year over year growth rate of 9.2%. The company is scheduled to report its next earnings results on Thursday, September 26th.

According to Zacks, analysts expect that Accenture will report full-year sales of $43.24 billion for the current fiscal year, with estimates ranging from $43.19 billion to $43.29 billion. For the next financial year, analysts anticipate that the firm will post sales of $46.26 billion, with estimates ranging from $45.87 billion to $46.48 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Accenture.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, June 27th. The information technology services provider reported $1.93 EPS for the quarter, topping the Zacks’ consensus estimate of $1.89 by $0.04. The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $11.03 billion. Accenture had a net margin of 10.93% and a return on equity of 36.24%. Accenture’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.79 EPS.

ACN has been the subject of a number of research analyst reports. Citigroup increased their price target on shares of Accenture from $194.00 to $211.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Bank of America increased their price target on shares of Accenture from $182.00 to $186.00 and gave the company a “neutral” rating in a report on Thursday, June 20th. Credit Suisse Group set a $180.00 price target on shares of Accenture and gave the company a “hold” rating in a report on Friday, June 28th. Argus increased their price target on shares of Accenture to $220.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, BMO Capital Markets increased their price target on shares of Accenture from $185.00 to $195.00 and gave the company a “positive” rating in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $192.38.

In other Accenture news, CEO David Rowland sold 2,255 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $194.03, for a total transaction of $437,537.65. Following the sale, the chief executive officer now directly owns 25,078 shares of the company’s stock, valued at approximately $4,865,884.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard Lumb sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $196.95, for a total transaction of $393,900.00. Following the sale, the insider now directly owns 73,548 shares in the company, valued at $14,485,278.60. The disclosure for this sale can be found here. Insiders have sold a total of 36,147 shares of company stock valued at $6,597,288 over the last 90 days. 0.18% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in ACN. Comerica Securities Inc. boosted its stake in shares of Accenture by 39.8% during the 4th quarter. Comerica Securities Inc. now owns 11,542 shares of the information technology services provider’s stock worth $1,628,000 after purchasing an additional 3,285 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Accenture by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,077,488 shares of the information technology services provider’s stock worth $292,943,000 after acquiring an additional 61,798 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Accenture by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 8,446,583 shares of the information technology services provider’s stock worth $1,189,171,000 after acquiring an additional 383,234 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Accenture by 0.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 58,212 shares of the information technology services provider’s stock worth $9,074,000 after acquiring an additional 522 shares during the last quarter. Finally, First Allied Advisory Services Inc. boosted its position in shares of Accenture by 7.2% in the fourth quarter. First Allied Advisory Services Inc. now owns 7,139 shares of the information technology services provider’s stock worth $1,005,000 after acquiring an additional 482 shares during the last quarter. 69.42% of the stock is currently owned by institutional investors.

Shares of ACN traded up $1.58 during trading hours on Thursday, reaching $194.16. The company had a trading volume of 1,708,308 shares, compared to its average volume of 1,864,106. The firm has a 50 day moving average of $190.46. The stock has a market capitalization of $130.51 billion, a P/E ratio of 28.81, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. Accenture has a 12-month low of $132.63 and a 12-month high of $197.47.

About Accenture

Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.

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