Pivotal Research set a $180.00 target price on Accenture (NYSE:ACN) in a report released on Tuesday, January 16th. The firm currently has a buy rating on the information technology services provider’s stock.
A number of other research analysts have also recently issued reports on ACN. Zacks Investment Research cut shares of Accenture from a buy rating to a hold rating in a report on Tuesday, September 19th. Cowen reaffirmed a buy rating and issued a $150.00 price target (up previously from $135.00) on shares of Accenture in a report on Tuesday, September 19th. Berenberg Bank reaffirmed a buy rating and issued a $160.00 price target on shares of Accenture in a report on Thursday, September 21st. KeyCorp reaffirmed a buy rating and issued a $135.00 price target on shares of Accenture in a report on Friday, September 22nd. Finally, Morgan Stanley raised their price target on shares of Accenture from $132.00 to $140.00 and gave the stock an equal weight rating in a report on Friday, September 22nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Accenture currently has an average rating of Hold and a consensus target price of $156.57.
Accenture (NYSE ACN) traded up $3.33 during trading hours on Tuesday, reaching $153.84. 3,643,267 shares of the company were exchanged, compared to its average volume of 2,210,000. Accenture has a 12 month low of $114.82 and a 12 month high of $162.60. The stock has a market capitalization of $98,620.00, a PE ratio of 27.28, a price-to-earnings-growth ratio of 2.31 and a beta of 1.05.
Accenture (NYSE:ACN) last posted its earnings results on Thursday, December 21st. The information technology services provider reported $1.79 EPS for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.12. Accenture had a net margin of 9.43% and a return on equity of 41.79%. The company had revenue of $9.52 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the prior year, the company posted $1.58 earnings per share. Accenture’s revenue for the quarter was up 11.8% compared to the same quarter last year. analysts expect that Accenture will post 6.65 EPS for the current year.
In other news, insider Gianfranco Casati sold 5,000 shares of Accenture stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $152.92, for a total value of $764,600.00. Following the sale, the insider now owns 46,202 shares in the company, valued at $7,065,209.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider ‘T Noordende Alexander M. Van sold 6,500 shares of Accenture stock in a transaction dated Monday, January 1st. The shares were sold at an average price of $153.48, for a total transaction of $997,620.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,249 shares of company stock worth $17,795,548. 0.21% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in ACN. Vantage Financial Partners Ltd. Inc. purchased a new position in shares of Accenture in the second quarter worth about $533,000. Jacobi Capital Management LLC lifted its stake in shares of Accenture by 104.8% in the third quarter. Jacobi Capital Management LLC now owns 727 shares of the information technology services provider’s stock worth $100,000 after buying an additional 372 shares in the last quarter. TCI Wealth Advisors Inc. lifted its stake in shares of Accenture by 23.4% in the second quarter. TCI Wealth Advisors Inc. now owns 854 shares of the information technology services provider’s stock worth $106,000 after buying an additional 162 shares in the last quarter. Manchester Capital Management LLC lifted its stake in shares of Accenture by 7.0% in the second quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock worth $114,000 after buying an additional 60 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new position in shares of Accenture in the second quarter worth about $129,000. Institutional investors and hedge funds own 75.60% of the company’s stock.
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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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