Accenture Plc (NYSE:ACN) – Research analysts at Cantor Fitzgerald boosted their FY2018 EPS estimates for Accenture in a report released on Friday, June 29th. Cantor Fitzgerald analyst J. Foresi now expects that the information technology services provider will earn $6.70 per share for the year, up from their prior forecast of $6.67. Cantor Fitzgerald has a “Overweight” rating and a $185.00 price target on the stock. Cantor Fitzgerald also issued estimates for Accenture’s FY2019 earnings at $7.39 EPS.
A number of other research firms have also recently weighed in on ACN. Sanford C. Bernstein started coverage on shares of Accenture in a report on Wednesday, March 28th. They issued an “outperform” rating and a $180.00 price target on the stock. Pivotal Research set a $180.00 price objective on shares of Accenture and gave the company a “buy” rating in a research report on Monday, June 11th. Robert W. Baird increased their price objective on shares of Accenture from $162.00 to $165.00 and gave the company a “neutral” rating in a research report on Tuesday, March 20th. Zacks Investment Research lowered shares of Accenture from a “hold” rating to a “sell” rating in a research report on Wednesday, June 20th. Finally, UBS Group raised shares of Accenture from a “neutral” rating to a “positive” rating in a research report on Tuesday, June 19th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the company. Accenture presently has an average rating of “Buy” and a consensus target price of $162.11.
NYSE:ACN opened at $163.34 on Monday. Accenture has a fifty-two week low of $122.03 and a fifty-two week high of $165.58. The stock has a market capitalization of $103.93 billion, a PE ratio of 27.64, a PEG ratio of 2.44 and a beta of 0.97.
Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, June 28th. The information technology services provider reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.07. Accenture had a net margin of 9.76% and a return on equity of 42.01%. The business had revenue of $10.32 billion for the quarter, compared to analysts’ expectations of $10.04 billion. During the same period last year, the business earned $1.52 EPS. The company’s revenue was up 16.3% compared to the same quarter last year.
Institutional investors and hedge funds have recently bought and sold shares of the business. HC Financial Advisors Inc. purchased a new position in shares of Accenture during the 4th quarter valued at approximately $1,957,000. Landscape Capital Management L.L.C. increased its holdings in shares of Accenture by 214.0% during the 4th quarter. Landscape Capital Management L.L.C. now owns 4,694 shares of the information technology services provider’s stock valued at $719,000 after purchasing an additional 3,199 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Accenture by 261.6% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 3,792,124 shares of the information technology services provider’s stock valued at $580,537,000 after purchasing an additional 2,743,482 shares in the last quarter. MML Investors Services LLC increased its holdings in shares of Accenture by 13.0% during the 4th quarter. MML Investors Services LLC now owns 27,528 shares of the information technology services provider’s stock valued at $4,214,000 after purchasing an additional 3,167 shares in the last quarter. Finally, Annex Advisory Services LLC increased its holdings in shares of Accenture by 6.6% during the 4th quarter. Annex Advisory Services LLC now owns 9,573 shares of the information technology services provider’s stock valued at $1,465,000 after purchasing an additional 593 shares in the last quarter. 73.79% of the stock is owned by institutional investors.
In other Accenture news, General Counsel Chad T. Jerdee sold 1,141 shares of the firm’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $162.30, for a total transaction of $185,184.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Johan Deblaere sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $162.36, for a total transaction of $811,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 48,875 shares of company stock valued at $7,845,440 over the last three months. 0.21% of the stock is currently owned by insiders.
Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.
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