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Accenture plc ACN has seen its stock rise 22% in the past three months, outperforming the industry’s 14.9% growth and the 2.4% uptick in the S&P 500 composite index.
We have a Zacks Rank #2 (Buy) on ACN shares, given the company’s technological prowess, strong cash position, contribution from acquisitions and consistent dividend payouts.
Accenture PLC Price
Accenture PLC price | Accenture PLC Quote
Let’s look at the factors in detail that make the stock an attractive pick.
Technology-Based Growth Strategy
Accenture's broader growth strategy focuses on delivering comprehensive value to its stakeholders through technology. By focusing on building a digital core with cloud, data, and AI technologies and investing in talent, Accenture is well-positioned for long-term success. We believe this strategy positions Accenture as a trusted partner for its clients and keeps the stock attractive.
Strong Cash Position
Accenture had a cash and cash equivalents balance of $5.5 billion at the end of third-quarter fiscal 2024 against a total long-term debt of just $69 million. Cash provided by operating activities was $1 billion and free cash flow came in at $1 million. Accenture generates significant cash from operations and also holds a huge cash balance, management has the flexibility to pursue growth in any areas that exhibit true potential.
This flexibility and technological prowess allowed it to pursue acquisition opportunities in different markets. The company spent $2.5 billion across 25 acquisitions in fiscal 2023. A disciplined acquisition strategy helps ACN channel its business in high-growth areas, adding skills and capabilities, and deepening industry and functional expertise.
Dividend Spinner
Commitment to shareholder returns makes ACN a reliable way for investors to compound wealth over the long term. The company paid $2.8 billion, $2.5 billion and $2.2 billion in dividends in 2023, 2022, and 2021, respectively. We are expecting steady income growth, which will translate to steady cash flow, enabling it to pay out stable dividends.
Other Stocks to Consider
Investors can look at some other top-ranked stocks like AppLovin APP, Climb Global Solutions CLMB, and HNI Corporation HNI.
APP currently sports a Zacks Rank of 1 (Strong Buy). The company has a long-term earnings growth expectation of 20%. APP delivered a trailing four-quarter earnings surprise of 21.1%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
Climb Global Solutions flaunts a Zacks Rank #1 at present. It has a long-term earnings growth expectation of 11%. CLMB delivered a trailing four-quarter earnings surprise of 25.2%, on average.
HNI sports a Zacks Rank #1 at present. It has a long-term earnings growth expectation of 12%. HNI delivered a trailing four-quarter earnings surprise of 51.3%, on average.
Zacks Investment Research
The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Byrna Technologies Inc. (BYRN) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.
Byrna Technologies Inc. is one of 317 companies in the Business Services group. The Business Services group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Byrna Technologies Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for BYRN's full-year earnings has moved 180.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, BYRN has moved about 149.6% on a year-to-date basis. Meanwhile, stocks in the Business Services group have gained about 14.5% on average. This shows that Byrna Technologies Inc. is outperforming its peers so far this year.
One other Business Services stock that has outperformed the sector so far this year is Climb Global Solutions (CLMB). The stock is up 67.4% year-to-date.
Over the past three months, Climb Global Solutions' consensus EPS estimate for the current year has increased 12.3%. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Byrna Technologies Inc. belongs to the Technology Services industry, a group that includes 171 individual companies and currently sits at #70 in the Zacks Industry Rank. This group has gained an average of 25.6% so far this year, so BYRN is performing better in this area. Climb Global Solutions is also part of the same industry.
Byrna Technologies Inc. and Climb Global Solutions could continue their solid performance, so investors interested in Business Services stocks should continue to pay close attention to these stocks.
Zacks Investment Research
When it comes to short-term investing or trading, they say "the trend is your friend." And there's no denying that this is the most profitable strategy. But making sure of the sustainability of a trend to profit from it is easier said than done.
Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, etc. -- that could keep the momentum in the stock going.
Our "Recent Price Strength" screen, which is created on a unique short-term trading strategy, could be pretty useful in this regard. This predefined screen makes it really easy to shortlist the stocks that have enough fundamental strength to maintain their recent uptrend. Also, the screen passes only the stocks that are trading in the upper portion of their 52-week high-low range, which is usually an indicator of bullishness.
Climb Global Solutions
(CLMB) is one of the several suitable candidates that passed through the screen. Here are the key reasons why it could be a profitable bet for "trend" investors.
A solid price increase over a period of 12 weeks reflects investors' continued willingness to pay more for the potential upside in a stock. CLMB is quite a good fit in this regard, gaining 60.9% over this period.
However, it's not enough to look at the price change for around three months, as it doesn't reflect any trend reversal that might have happened in a shorter time frame. It's important for a potential winner to maintain the price trend. A price increase of 7.5% over the past four weeks ensures that the trend is still in place for the stock of this computer software reseller.
Moreover, CLMB is currently trading at 92% of its 52-week High-Low Range, hinting that it can be on the verge of a breakout.
Looking at the fundamentals, the stock currently carries a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises -- the key factors that impact a stock's near-term price movements.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here
Another factor that confirms the company's fundamental strength is its Average Broker Recommendation of #1 (Strong Buy). This indicates that the brokerage community is highly optimistic about the stock's near-term price performance.
So, the price trend in CLMB may not reverse anytime soon.
In addition to CLMB, there are several other stocks that currently pass through our "Recent Price Strength" screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.
This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.
However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.
Click here to sign up for a free trial to the Research Wizard today.
Zacks Investment Research
These ten large-cap stocks were the best performers in the last week. Are they in your portfolio?
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ABM Industries Incorporated ABM stock has gained 19.5%, outperforming the 11% rally of the industry it belongs to and the 8.6% rise of the Zacks S&P 500 composite in the past six months.
ABM reported impressive third-quarter fiscal 2024 results. EPS (excluding 86 cents from non-recurring items) was 94 cents, which outpaced the Zacks Consensus Estimate by 10.6% and gained 19% on a year-over-year basis. Total revenues of $2.1 billion surpassed the consensus mark by 2.7% and increased 3.3% from the year-ago quarter.
How is ABM Industries Doing?
ELEVATE, which is ABM’s multi-year comprehensive strategic plan, aims to provide clients with offerings that improve transparency and efficiencies, develop its talent management system capabilities, expand data usage, and modernize the digital ecosystem. ABM anticipates ELEVATE to continue accelerating its organic growth, enhancing its strategic and comprehensive positioning, and reinforcing profitability.
ABM Industries' growth strategy involves strategic acquisitions and organic investments. The recent acquisition of Quality Uptime Services, Inc. allows ABM’s Mission Critical Solutions to offer comprehensive and complementary critical infrastructure solutions for data centers and similar essential services. RavenVolt, which was acquired in 2022, helped ABM expand its footprint in potential geographies and end markets through strategic acquisitions. RavenVolt’s addition has expanded ABM’s Technical Solutions service offerings, improving its foothold in EV infrastructure, power and bundled energy solutions markets.
ABM continues to reap the benefits of its comprehensive transformational initiative called “2020 Vision” launched in 2015. This initiative aims to attain profitable growth in the long run through an industry-based go-to-market approach. As part of this initiative, ABM Industries has centralized key functional areas, reinforced sales capabilities, and begun investing in service delivery tools and processes for supporting standard operating practices that are crucial for success in the long term.
2020 Vision initiative has enhanced the company’s Janitorial, Parking, Facilities Services, Building & Energy Solutions, and Airline Services offerings, and strengthened its position as a leading integrated facilities management company.
ABM Industries Incorporated Revenue (TTM)
ABM Industries Incorporated revenue-ttm | ABM Industries Incorporated Quote
We are also impressed with ABM Industries’ motive toward rewarding its shareholders through dividend payments and share repurchases. The company paid out dividends of $57.5 million in 2023, $51.9 million in 2022 and $51 million in 2021. ABM returned $138.1 million in share repurchases in 2023 and $97.5 million in 2022. The company did not repurchase any shares in 2021. Such actions indicate its commitment to create value for shareholders and underline its confidence in its business. These initiatives not only instill investors’ confidence but also positively impact the bottom line.
Despite all the above efforts taken by ABM Industries to boost its capabilities, it has had to deal with rising operating expenses in the past two years. In fiscal 2023, operating expenses increased 4.1% year over year. The same rose 28.5% year over year in fiscal 2022. Increasing operating expenses can have significant negative impacts on the bottom line.
Zacks Rank & Stocks to Consider
ABM Industries currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Business Services sector are AppLovin APP and Evertec EVTC.
AppLovin flaunts a Zacks Rank of 1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
APP has a long-term earnings growth expectation of 20%. It delivered a trailing four-quarter earnings surprise of 21.1%, on average.
Evertec sports a Zacks Rank of 1 at present. It has a long-term earnings growth expectation of 8%.
EVTC delivered a trailing four-quarter earnings surprise of 11.1%, on average.
Zacks Investment Research
Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Maplebear (CART) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.
Maplebear is a member of the Business Services sector. This group includes 317 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Maplebear is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CART's full-year earnings has moved 9.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CART has gained about 54.8% so far this year. Meanwhile, stocks in the Business Services group have gained about 13.3% on average. As we can see, Maplebear is performing better than its sector in the calendar year.
AppLovin (APP) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 165%.
Over the past three months, AppLovin's consensus EPS estimate for the current year has increased 17.1%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Maplebear is a member of the Technology Services industry, which includes 171 individual companies and currently sits at #73 in the Zacks Industry Rank. This group has gained an average of 23.1% so far this year, so CART is performing better in this area. AppLovin is also part of the same industry.
Investors with an interest in Business Services stocks should continue to track Maplebear and AppLovin. These stocks will be looking to continue their solid performance.
Zacks Investment Research
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