Investors Sell Accenture PLC (ACN) on Strength (ACN)
Investors sold shares of Accenture PLC (NYSE:ACN) on strength during trading on Friday. $28.95 million flowed into the stock on the tick-up and $47.50 million flowed out of the stock on the tick-down, for a money net flow of $18.55 million out of the stock. Of all companies tracked, Accenture PLC had the 0th highest net out-flow for the day. Accenture PLC traded up $0.60 for the day and closed at $115.66
Several brokerages have recently commented on ACN. Susquehanna restated a “positive” rating and issued a $130.00 price objective on shares of Accenture PLC in a report on Wednesday, June 22nd. Sanford C. Bernstein restated a “market perform” rating and issued a $112.00 price objective (up from $104.00) on shares of Accenture PLC in a report on Wednesday, June 22nd. Bank of America Corp. restated a “hold” rating on shares of Accenture PLC in a report on Monday, June 20th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $126.00 target price on shares of Accenture PLC in a research note on Monday, June 20th. Finally, Cowen and Company upped their target price on shares of Accenture PLC from $118.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 31st. Eleven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $119.59.
The company has a market capitalization of $72.00 billion and a PE ratio of 19.55. The company’s 50 day moving average is $113.83 and its 200 day moving average is $112.86.
Accenture PLC (NYSE:ACN) last issued its quarterly earnings results on Thursday, June 23rd. The company reported $1.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.41. During the same period in the previous year, the business posted $1.30 EPS. The company earned $8.43 billion during the quarter. The company’s revenue was up 8.6% on a year-over-year basis. On average, equities analysts forecast that Accenture PLC will post $5.33 EPS for the current fiscal year.
In other Accenture PLC news, insider Richard Lumb sold 1,250 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $113.12, for a total transaction of $141,400.00. Following the completion of the sale, the insider now owns 125,647 shares in the company, valued at $14,213,188.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Pierre Nanterme sold 46,739 shares of the business’s stock in a transaction on Wednesday, June 29th. The shares were sold at an average price of $111.32, for a total transaction of $5,202,985.48. Following the sale, the chief executive officer now owns 207,240 shares of the company’s stock, valued at approximately $23,069,956.80. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Accenture PLC stock. I.G. Investment Management LTD. raised its stake in shares of Accenture PLC (NYSE:ACN) by 63.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,420 shares of the company’s stock after buying an additional 8,727 shares during the period. I.G. Investment Management LTD.’s holdings in Accenture PLC were worth $2,343,000 as of its most recent SEC filing.
Accenture plc is engaged in providing management consulting, technology and outsourcing services. The Company’s business is structured around five operating groups, which together consists of 19 industry groups serving clients in industries globally. The Company’s segment includes Communications, Media & Technology, Financial Services, Health & Public Service, Products and Resources.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.