Accenture (ACN) Hits New 52-Week High at $163.06

Accenture Plc (NYSE:ACN)’s share price reached a new 52-week high on Friday . The stock traded as high as $163.06 and last traded at $163.14, with a volume of 626843 shares traded. The stock had previously closed at $161.06.

ACN has been the subject of several recent research reports. Cowen set a $150.00 target price on shares of Accenture and gave the stock a “buy” rating in a research note on Monday, October 23rd. Susquehanna Bancshares reiterated a “hold” rating and issued a $145.00 target price on shares of Accenture in a research note on Tuesday, December 26th. Pivotal Research set a $180.00 target price on shares of Accenture and gave the stock a “buy” rating in a research note on Thursday, December 28th. Zacks Investment Research upgraded shares of Accenture from a “hold” rating to a “buy” rating and set a $165.00 target price for the company in a research note on Tuesday, November 28th. Finally, Bank of America lifted their target price on shares of Accenture from $150.00 to $171.00 in a research note on Friday, December 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Accenture presently has a consensus rating of “Hold” and a consensus target price of $156.57.

The firm has a market cap of $104,280.00, a P/E ratio of 28.84, a P/E/G ratio of 2.42 and a beta of 1.05.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, December 21st. The information technology services provider reported $1.79 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $9.52 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period in the previous year, the business posted $1.58 earnings per share. Accenture’s revenue for the quarter was up 11.8% on a year-over-year basis. equities analysts forecast that Accenture Plc will post 6.65 EPS for the current fiscal year.

In other Accenture news, insider Gianfranco Casati sold 5,000 shares of Accenture stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $152.92, for a total transaction of $764,600.00. Following the completion of the sale, the insider now directly 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 is available at the SEC website. Also, CEO Pierre Nanterme sold 34,232 shares of Accenture stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $152.94, for a total transaction of $5,235,442.08. Following the sale, the chief executive officer now owns 262,490 shares of the company’s stock, valued at $40,145,220.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,249 shares of company stock valued at $18,106,228. 0.21% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. Capital Research Global Investors lifted its position in Accenture by 2.2% during the second quarter. Capital Research Global Investors now owns 28,501,643 shares of the information technology services provider’s stock valued at $3,525,083,000 after purchasing an additional 605,156 shares during the last quarter. Wells Fargo & Company MN lifted its position in Accenture by 54.1% during the fourth quarter. Wells Fargo & Company MN now owns 6,977,987 shares of the information technology services provider’s stock valued at $1,068,260,000 after purchasing an additional 2,450,772 shares during the last quarter. Independent Franchise Partners LLP lifted its position in Accenture by 3.7% during the third quarter. Independent Franchise Partners LLP now owns 6,293,362 shares of the information technology services provider’s stock valued at $850,044,000 after purchasing an additional 222,828 shares during the last quarter. WCM Investment Management CA lifted its position in Accenture by 5.9% during the fourth quarter. WCM Investment Management CA now owns 5,280,182 shares of the information technology services provider’s stock valued at $808,343,000 after purchasing an additional 291,858 shares during the last quarter. Finally, Polen Capital Management LLC lifted its holdings in shares of Accenture by 1.4% in the 4th quarter. Polen Capital Management LLC now owns 4,940,069 shares of the information technology services provider’s stock worth $756,275,000 after acquiring an additional 67,052 shares during the last quarter. Institutional investors and hedge funds own 75.63% of the company’s stock.

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About Accenture

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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