Accenture PLC (NYSE:ACN) had its target price raised by Stifel Nicolaus from $138.00 to $146.00 in a research report report published on Thursday, Marketbeat reports. The firm currently has a buy rating on the information technology services provider’s stock.
ACN has been the topic of several other research reports. BMO Capital Markets reaffirmed a hold rating and issued a $130.00 price target (up previously from $125.00) on shares of Accenture PLC in a report on Thursday, June 22nd. Zacks Investment Research upgraded shares of Accenture PLC from a hold rating to a buy rating and set a $145.00 price objective on the stock in a research report on Monday, August 28th. Wells Fargo & Company reiterated an outperform rating and set a $138.00 price objective (up from $131.50) on shares of Accenture PLC in a research report on Friday, June 16th. SunTrust Banks, Inc. cut shares of Accenture PLC from a buy rating to a hold rating and lifted their price objective for the stock from $122.15 to $130.00 in a research report on Wednesday, May 24th. Finally, Berenberg Bank set a $140.00 price objective on shares of Accenture PLC and gave the stock a buy rating in a research report on Saturday, June 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Accenture PLC currently has an average rating of Buy and an average target price of $131.53.
Shares of Accenture PLC (NYSE:ACN) opened at 133.72 on Thursday. The firm has a market cap of $82.64 billion, a PE ratio of 23.68 and a beta of 1.11. The firm’s 50-day moving average price is $129.45 and its 200-day moving average price is $124.30. Accenture PLC has a one year low of $108.83 and a one year high of $134.97.
Accenture PLC (NYSE:ACN) last posted its quarterly earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. The company had revenue of $8.87 billion for the quarter, compared to analysts’ expectations 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 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. Equities research analysts expect that Accenture PLC will post $5.90 earnings per share for the current fiscal year.
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In related news, insider Richard Lumb sold 2,200 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $129.26, for a total value of $284,372.00. Following the completion of the sale, the insider now directly owns 119,013 shares in the company, valued at $15,383,620.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Julie Spellman Sweet sold 1,974 shares of the company’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $128.68, for a total transaction of $254,014.32. Following the completion of the sale, the insider now owns 14,082 shares of the company’s stock, valued at $1,812,071.76. The disclosure for this sale can be found here. Insiders sold 79,817 shares of company stock valued at $9,920,929 over the last quarter. 0.21% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of ACN. BlackRock Inc. boosted its holdings in Accenture PLC by 2,139.5% in the first quarter. BlackRock Inc. now owns 39,462,967 shares of the information technology services provider’s stock worth $4,730,821,000 after purchasing an additional 37,700,871 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Accenture PLC by 6.2% in the first quarter. Vanguard Group Inc. now owns 47,379,397 shares of the information technology services provider’s stock worth $5,679,843,000 after purchasing an additional 2,749,896 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Accenture PLC by 2,531.4% in the second quarter. Janus Henderson Group PLC now owns 2,520,680 shares of the information technology services provider’s stock worth $311,760,000 after purchasing an additional 2,424,888 shares in the last quarter. BT Investment Management Ltd bought a new stake in Accenture PLC in the second quarter worth $220,158,000. Finally, Wellington Management Group LLP boosted its holdings in Accenture PLC by 8.8% in the first quarter. Wellington Management Group LLP now owns 21,583,126 shares of the information technology services provider’s stock worth $2,587,385,000 after purchasing an additional 1,738,262 shares in the last quarter. Hedge funds and other institutional investors own 77.80% of the company’s stock.
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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