Q4 2020 Earnings Estimate for Accenture Plc Issued By William Blair (NYSE:ACN)
Accenture Plc (NYSE:ACN) – Equities researchers at William Blair cut their Q4 2020 earnings per share (EPS) estimates for Accenture in a report issued on Thursday, June 25th. William Blair analyst M. Nolan now forecasts that the information technology services provider will post earnings per share of $1.71 for the quarter, down from their previous forecast of $1.79.
Several other analysts have also issued reports on the stock. UBS Group raised their price target on shares of Accenture from $160.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday. Wells Fargo & Co lowered shares of Accenture from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $190.00 to $200.00 in a research report on Thursday, June 18th. They noted that the move was a valuation call. Deutsche Bank raised their price target on shares of Accenture from $215.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday. Stifel Nicolaus raised their price target on shares of Accenture from $184.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, June 19th. Finally, Exane BNP Paribas lowered shares of Accenture from an “outperform” rating to a “neutral” rating in a research report on Wednesday, June 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $219.44.
Accenture (NYSE:ACN) last announced its earnings results on Thursday, June 25th. The information technology services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.84 by $0.06. The firm had revenue of $10.99 billion for the quarter, compared to the consensus estimate of $10.89 billion. Accenture had a net margin of 11.11% and a return on equity of 32.04%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.93 EPS.
Institutional investors and hedge funds have recently modified their holdings of the company. Total Clarity Wealth Management Inc. bought a new position in Accenture during the fourth quarter worth about $26,000. HHM Wealth Advisors LLC bought a new position in Accenture during the first quarter worth about $29,000. Islay Capital Management LLC bought a new position in Accenture during the fourth quarter worth about $31,000. Mark Sheptoff Financial Planning LLC increased its position in Accenture by 200.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 150 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 100 shares during the period. Finally, FSA Wealth Management LLC bought a new position in Accenture during the fourth quarter worth about $34,000. 73.64% of the stock is currently owned by institutional investors.
In other news, insider Ellyn Shook sold 1,251 shares of the stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $185.00, for a total value of $231,435.00. Following the transaction, the insider now directly owns 23,927 shares of the company’s stock, valued at $4,426,495. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David Rowland sold 2,119 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $178.63, for a total transaction of $378,516.97. Following the completion of the transaction, the chairman now directly owns 15,238 shares in the company, valued at $2,721,963.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,221 shares of company stock worth $4,169,477. Company insiders own 0.10% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Thursday, July 16th will be given a $0.80 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $3.20 dividend on an annualized basis and a yield of 1.50%. Accenture’s dividend payout ratio (DPR) is presently 43.48%.
Accenture Company Profile
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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