Traders Sell Shares of Accenture PLC (ACN) on Strength (ACN)
Investors sold shares of Accenture PLC (NYSE:ACN) on strength during trading hours 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 stocks 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
A number of equities analysts have weighed in on ACN shares. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Accenture PLC in a research report on Monday, July 18th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Accenture PLC in a research report on Tuesday, July 19th. BMO Capital Markets reaffirmed a “hold” rating and set a $118.00 price target on shares of Accenture PLC in a research report on Sunday, August 7th. Credit Suisse Group AG downgraded Accenture PLC from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $120.94 to $120.00 in a research report on Friday, June 24th. Finally, Barclays PLC upped their price target on Accenture PLC from $110.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 7th. Eleven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $119.59.
The stock’s 50-day moving average price is $113.83 and its 200-day moving average price is $112.86. The firm has a market cap of $72.00 billion and a PE ratio of 19.55.
Accenture PLC (NYSE:ACN) last posted its quarterly earnings data on Thursday, June 23rd. The company reported $1.41 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.41. During the same quarter in the prior year, the company posted $1.30 earnings per share. The business 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 year.
In other Accenture PLC news, insider Richard Lumb sold 1,250 shares of the business’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $109.88, for a total value of $137,350.00. Following the transaction, the insider now owns 129,013 shares of the company’s stock, valued at $14,175,948.44. 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 stock was sold at an average price of $111.32, for a total value of $5,202,985.48. Following the completion of the transaction, the chief executive officer now directly owns 207,240 shares in the company, 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 Accenture PLC (NYSE:ACN) by 63.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor 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.
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