External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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Equity Bottom-Up

<div><div><div><div><ul><li>Accenture reported robust Q4FY22 numbers that were in line with the street expectations.</li><li>Revenue for the quarter stood at $15.4 Bn, posting a healthy growth of 15% YoY in USD and 22.4% in local currency despite rising supply-side constraints.</li><li>Operating margins grew by 10bps and stood at 17.4%. The company’s EPS for FY22 stood at $10.7, up 17% from the $9.16 it reported in FY21 and 22% from the adjusted EPS of $8.80 in FY21 (this excluded $0.36 in gains on an investment). </li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Accenture reported robust Q4FY22 numbers that were in line with the street expectations.Revenue for the quarter stood at $15.4 Bn, posting a healthy growth of 15% YoY in USD and 22.4% in local currency despite rising supply-side constraints.Operating margins grew by 10bps and stood at 17.4%. The company’s EPS for FY22 stood at $10.7, up 17% from the $9.16 it reported in FY21 and 22% from the adjusted EPS of $8.80 in FY21 (this excluded $0.36 in gains on an investment). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Accenture - Results In-Line With Expectation

Quality-first, Business-perspective, Long-term, Urbem (HK) Limited

Urbem Capital

Quality-first, Business-perspective, Long-term

<ul>
<li>Although engaged in the IT field, Bouvet is essentially a people business that is not built upon any technology product;</li>
<li>For a people business to succeed, corporate culture is a primary factor, and Bouvet seems to have fared pretty well on that front.</li>
<li>We had a one-hour chat with the company's new CEO and CFO last year and were impressed by the team's conservative thinking.</li>
</ul>


Although engaged in the IT field, Bouvet is essentially a people business that is not built upon any technology product;
For a people business to succeed, corporate culture is a primary factor, and Bouvet seems to have fared pretty well on that front.
We had a one-hour chat with the company's new CEO and CFO last year and were impressed by the team's conservative thinking.


Introducing Bouvet: A Simple Business Built upon a Complex World

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>In its last result, Accenture delivered robust overall results, reflecting strong double-digit revenue growth across all areas of its business and ongoing operating margin expansion due to its ongoing large-scale investments in its company.</li><li>Accenture continued with its acquisition-led growth approach and agreed to acquire The Stable.</li><li>In a nutshell, Accenture is in a unique position to support both its clients' growth objectives and cost-saving initiatives.</li></ul>

In its last result, Accenture delivered robust overall results, reflecting strong double-digit revenue growth across all areas of its business and ongoing operating margin expansion due to its ongoing large-scale investments in its company.Accenture continued with its acquisition-led growth approach and agreed to acquire The Stable.In a nutshell, Accenture is in a unique position to support both its clients' growth objectives and cost-saving initiatives.

Accenture Plc: Continued Bolt-On Acquisitions Strategy & Other Drivers

External broker reports(aggregated public sources), Nirmal Bang

Nirmal Bang

A Relationship Beyond Broking

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

<div><div><div><div><ul><li>Consistent performance in 3QFY22: ACN’s revenue for 3QFY22 stood at US$16.16bn, an increase of 22% in USD terms and 27% in LC terms.</li></ul><div><div><div><div><ul><li>Five forces to be harnessed by clients: ACN believes that there are five forces that clients should harness over the next decade to drive growth.</li></ul><div><div><div><div><ul><li>These are total enterprise reinvention, talent, sustainability, metaverse continuum and the ongoing tech revolution.</li></ul></div></div></div></div></div></div></div></div></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Consistent performance in 3QFY22: ACN’s revenue for 3QFY22 stood at US$16.16bn, an increase of 22% in USD terms and 27% in LC terms.Five forces to be harnessed by clients: ACN believes that there are five forces that clients should harness over the next decade to drive growth.These are total enterprise reinvention, talent, sustainability, metaverse continuum and the ongoing tech revolution.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Accenture - Good Performance; Macro Weakness Begins to Show up in Some Aspects

TMT & Consumer Independent Equity Research Analyst, Obex Capital Research

Aaron Gabin

TMT & Consumer Independent Equity Research Analyst

TMT & Consumer Independent Equity Research

Obex Capital Research

“Obex” is Latin for Barriers to Entry. Obex Capital Management’s investment philosophy is driven by an intense focus on which business model’s Barriers to Entry are able to withstand the ever increasing competitive disruption in the TMT and Consumer Sectors.

<ul>
<li>EPAM is an IT Services firm that does high end software development for Fortune 2000 customers.</li>
<li>One of the great under the radar compounders of all time. Feb 2012 IPO-Feb 2022: ~27% revenue, earnings, FCF CAGR, 45% equity CAGR.</li>
<li>Core engineering talent historically in Ukraine, Belarus, and Russia, this is the overhang. We think great management team can navigate relocation and return to growth.</li>
</ul>


EPAM is an IT Services firm that does high end software development for Fortune 2000 customers.
One of the great under the radar compounders of all time. Feb 2012 IPO-Feb 2022: ~27% revenue, earnings, FCF CAGR, 45% equity CAGR.
Core engineering talent historically in Ukraine, Belarus, and Russia, this is the overhang. We think great management team can navigate relocation and return to growth.


Ireland

Accenture PLC provides management and technology consulting services and solutions.  The Company delivers a range of specialized capabilities and solutions to clients across all industries on a worldwide basis.  Accenture's network of businesses provides consulting, technology, outsourcing, and alliances.

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Accenture Plc Cl A (ACN US)

Accenture - Results In-Line With Expectation

Revenue for the quarter stood at $15.4 Bn, posting a healthy growth of 15% YoY in USD and 22.4% in local currency despite rising supply-side...

Axis Direct

Introducing Bouvet: A Simple Business Built upon a Complex World

There is this small group of technology-driven businesses that are relatively immune to complexity and obsolescence risks but can enjoy industry...

Urbem Capital

Accenture Plc: Continued Bolt-On Acquisitions Strategy & Other Drivers

In its last result, Accenture delivered robust overall results, reflecting strong double-digit revenue growth across all areas of its business and...

Baptista Research

Accenture - Good Performance; Macro Weakness Begins to Show up in Some Aspects

Accenture (ACN) has yet again reported a strong 3QFY22 (August YE) performance, with consistent order booking and upward revision of its guidance

Nirmal Bang

Long Idea: EPAM Systems

EPAM System is one of the great compounders of the past 10 years, with an exceptional management team that will successfully relocate engineering...

Aaron Gabin

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