Investors Buy Accenture (ACN) on Weakness

Traders purchased shares of Accenture Plc (NYSE:ACN) on weakness during trading on Monday. $74.53 million flowed into the stock on the tick-up and $41.26 million flowed out of the stock on the tick-down, for a money net flow of $33.27 million into the stock. Of all stocks tracked, Accenture had the 32nd highest net in-flow for the day. Accenture traded down ($0.27) for the day and closed at $155.32

ACN has been the topic of a number of research reports. Citigroup lowered their target price on Accenture from $172.00 to $161.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 19th. Wells Fargo & Co set a $165.00 price target on Accenture and gave the stock a “buy” rating in a report on Thursday, December 20th. ValuEngine downgraded Accenture from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Robert W. Baird decreased their price target on Accenture from $176.00 to $156.00 and set a “neutral” rating for the company in a report on Friday, December 21st. Finally, KeyCorp decreased their price target on Accenture from $186.00 to $182.00 and set an “overweight” rating for the company in a report on Wednesday, December 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $173.84.

The company has a market cap of $103.35 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 2.09 and a beta of 1.10.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, December 20th. The information technology services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. The firm had revenue of $10.61 billion during the quarter, compared to the consensus estimate of $10.54 billion. Accenture had a return on equity of 40.31% and a net margin of 9.99%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.79 EPS. Sell-side analysts predict that Accenture Plc will post 7.2 earnings per share for the current year.

In other Accenture news, CEO Pierre Nanterme sold 37,846 shares of the company’s stock in a transaction on Monday, December 24th. The stock was sold at an average price of $135.16, for a total value of $5,115,265.36. Following the completion of the transaction, the chief executive officer now owns 368,212 shares in the company, valued at approximately $49,767,533.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ellyn Shook sold 1,172 shares of the company’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $155.00, for a total value of $181,660.00. Following the completion of the transaction, the insider now owns 36,337 shares of the company’s stock, valued at approximately $5,632,235. The disclosure for this sale can be found here. Insiders sold a total of 59,033 shares of company stock valued at $8,154,417 in the last 90 days. Corporate insiders own 0.18% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. South State Corp lifted its position in shares of Accenture by 0.9% during the 4th quarter. South State Corp now owns 7,531 shares of the information technology services provider’s stock valued at $1,062,000 after buying an additional 69 shares during the last quarter. WealthTrust Arizona LLC lifted its position in shares of Accenture by 25.1% during the 4th quarter. WealthTrust Arizona LLC now owns 359 shares of the information technology services provider’s stock valued at $51,000 after buying an additional 72 shares during the last quarter. Granite Investment Advisors LLC lifted its position in shares of Accenture by 0.3% during the 4th quarter. Granite Investment Advisors LLC now owns 23,544 shares of the information technology services provider’s stock valued at $3,320,000 after buying an additional 73 shares during the last quarter. Hanson McClain Inc. lifted its position in shares of Accenture by 28.4% during the 4th quarter. Hanson McClain Inc. now owns 339 shares of the information technology services provider’s stock valued at $48,000 after buying an additional 75 shares during the last quarter. Finally, Paulson Wealth Management Inc. lifted its position in shares of Accenture by 6.0% during the 4th quarter. Paulson Wealth Management Inc. now owns 1,371 shares of the information technology services provider’s stock valued at $204,000 after buying an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

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About Accenture (NYSE:ACN)

Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.

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