Accenture PLC to Post Q1 2018 Earnings of $1.64 Per Share, Wedbush Forecasts (ACN)
Accenture PLC (NYSE:ACN) – Stock analysts at Wedbush boosted their Q1 2018 earnings per share (EPS) estimates for Accenture PLC in a research report issued to clients and investors on Friday. Wedbush analyst M. Katri now forecasts that the information technology services provider will earn $1.64 per share for the quarter, up from their prior forecast of $1.63.
Accenture PLC (NYSE:ACN) last announced its earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 EPS for the quarter, meeting analysts’ consensus estimates of $1.52. The company had revenue of $8.87 billion during the quarter, compared to the consensus estimate of $8.82 billion. Accenture PLC had a return on equity of 43.96% and a net margin of 9.92%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 earnings per share.
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Other equities analysts have also recently issued research reports about the company. Berenberg Bank set a $140.00 price objective on Accenture PLC and gave the company a “buy” rating in a report on Saturday, June 24th. Cowen and Company reiterated a “buy” rating and issued a $135.00 target price on shares of Accenture PLC in a report on Friday, July 28th. Bank of America Corporation began coverage on Accenture PLC in a report on Tuesday. They issued a “buy” rating and a $150.00 target price for the company. Zacks Investment Research cut Accenture PLC from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, BidaskClub cut Accenture PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $132.33.
Accenture PLC (ACN) traded down 0.85% during trading on Monday, reaching $135.06. The company’s stock had a trading volume of 455,930 shares. The firm’s 50-day moving average price is $129.66 and its 200 day moving average price is $124.43. The company has a market capitalization of $83.47 billion, a P/E ratio of 23.92 and a beta of 1.11. Accenture PLC has a 12-month low of $108.83 and a 12-month high of $136.26.
In related news, insider Gianfranco Casati sold 6,836 shares of the company’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $122.97, for a total transaction of $840,622.92. Following the transaction, the insider now directly owns 61,714 shares of the company’s stock, valued at approximately $7,588,970.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Chad T. Jerdee sold 3,200 shares of the company’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $122.97, for a total value of $393,504.00. Following the transaction, the general counsel now directly owns 18,566 shares in the company, valued at $2,283,061.02. The disclosure for this sale can be found here. Insiders have sold a total of 79,817 shares of company stock worth $9,920,929 over the last ninety days. 0.21% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Accenture PLC by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 48,468,073 shares of the information technology services provider’s stock valued at $5,994,531,000 after buying an additional 1,088,676 shares in the last quarter. BlackRock Inc. grew its stake in Accenture PLC by 3.0% during the 2nd quarter. BlackRock Inc. now owns 40,659,545 shares of the information technology services provider’s stock valued at $5,028,772,000 after purchasing an additional 1,196,578 shares during the last quarter. Capital Research Global Investors grew its stake in Accenture PLC by 2.2% during the 2nd quarter. Capital Research Global Investors now owns 28,501,643 shares of the information technology services provider’s stock valued at $3,525,083,000 after purchasing an additional 605,156 shares during the last quarter. State Street Corp grew its stake in Accenture PLC by 2.7% during the 1st quarter. State Street Corp now owns 25,356,641 shares of the information technology services provider’s stock valued at $3,039,762,000 after purchasing an additional 665,860 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in Accenture PLC by 8.8% during the 1st quarter. Wellington Management Group LLP now owns 21,583,126 shares of the information technology services provider’s stock valued at $2,587,385,000 after purchasing an additional 1,738,262 shares during the last quarter. 77.80% of the stock is currently owned by institutional investors.
Accenture PLC Company Profile
Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.
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