Accenture (NYSE:ACN) Updates FY 2022 Earnings Guidance

Accenture (NYSE:ACNGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $10.61-$10.70 for the period, compared to the consensus earnings per share estimate of $10.28. The company issued revenue guidance of $63.42 billion-$63.92 billion, compared to the consensus revenue estimate of $58.77 billion. Accenture also updated its Q4 2022 guidance to EPS.

Shares of ACN traded down $1.33 during trading hours on Thursday, reaching $285.07. 81,943 shares of the company traded hands, compared to its average volume of 2,141,262. The stock has a market capitalization of $180.71 billion, a PE ratio of 28.87, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. The stock has a fifty day simple moving average of $295.63 and a 200 day simple moving average of $330.28. Accenture has a fifty-two week low of $268.17 and a fifty-two week high of $417.37.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Thursday, July 14th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 1.36%. Accenture’s dividend payout ratio (DPR) is 39.11%.

A number of equities analysts have recently weighed in on ACN shares. Royal Bank of Canada boosted their price objective on shares of Accenture from $430.00 to $435.00 and gave the company an outperform rating in a research report on Friday, March 18th. Piper Sandler decreased their price objective on Accenture from $433.00 to $368.00 and set a neutral rating on the stock in a report on Friday, March 18th. BMO Capital Markets dropped their target price on Accenture from $460.00 to $385.00 in a research note on Friday, March 18th. Morgan Stanley lowered their price target on Accenture from $480.00 to $390.00 and set an overweight rating for the company in a report on Tuesday, June 14th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Accenture from $440.00 to $364.00 in a report on Friday, June 17th. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $375.85.

In other Accenture news, insider Jean-Marc Ollagnier sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $315.13, for a total transaction of $1,969,562.50. Following the completion of the sale, the insider now owns 165,866 shares in the company, valued at approximately $52,269,352.58. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 3,287 shares of the company’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $315.22, for a total value of $1,036,128.14. Following the completion of the transaction, the chief executive officer now directly owns 19,836 shares in the company, valued at $6,252,703.92. The disclosure for this sale can be found here. Insiders have sold 10,757 shares of company stock worth $3,386,681 in the last quarter. Insiders own 0.07% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Cadence Bank raised its position in shares of Accenture by 0.7% during the 1st quarter. Cadence Bank now owns 4,999 shares of the information technology services provider’s stock valued at $1,686,000 after acquiring an additional 36 shares in the last quarter. Wall Street Access Asset Management LLC raised its holdings in shares of Accenture by 4.9% during the first quarter. Wall Street Access Asset Management LLC now owns 830 shares of the information technology services provider’s stock worth $279,000 after purchasing an additional 39 shares during the period. Guardian Wealth Management Inc. lifted its position in shares of Accenture by 0.6% in 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 buying an additional 41 shares during the last quarter. IHT Wealth Management LLC boosted its holdings in shares of Accenture by 6.5% in the 1st quarter. IHT Wealth Management LLC now owns 785 shares of the information technology services provider’s stock valued at $265,000 after buying an additional 48 shares during the period. Finally, Evergreen Capital Management LLC raised its stake in Accenture by 3.2% during the first quarter. Evergreen Capital Management LLC now owns 4,383 shares of the information technology services provider’s stock worth $1,478,000 after acquiring an additional 135 shares during the period. Institutional investors and hedge funds own 74.46% of the company’s stock.

About Accenture (Get Rating)

Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.

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