Accenture PLC (ACN) Price Target Raised to $116.00
Other equities research analysts also recently issued reports about the company. Cantor Fitzgerald reiterated a buy rating and issued a $126.00 price objective on shares of Accenture PLC in a report on Monday, June 20th. Cowen and Company lifted their price objective on Accenture PLC from $118.00 to $130.00 and gave the stock an outperform rating in a report on Tuesday, May 31st. Credit Suisse Group AG downgraded Accenture PLC from an outperform rating to a neutral rating and reduced their price objective for the stock from $120.94 to $120.00 in a report on Friday, June 24th. Pacific Crest began coverage on Accenture PLC in a report on Tuesday, July 12th. They issued an overweight rating and a $129.00 price objective for the company. Finally, Deutsche Bank AG reiterated a buy rating on shares of Accenture PLC in a report on Sunday, June 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $123.45.
Shares of Accenture PLC (NYSE:ACN) opened at 122.17 on Wednesday. The company has a market capitalization of $76.06 billion, a PE ratio of 20.65 and a beta of 1.24. The stock’s 50 day moving average price is $113.85 and its 200 day moving average price is $114.57. Accenture PLC has a 12 month low of $91.40 and a 12 month high of $124.96.
Accenture PLC (NYSE:ACN) last issued its quarterly earnings results on Thursday, September 29th. The company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.01. Accenture PLC had a return on equity of 47.07% and a net margin of 12.00%. The firm earned $8.49 billion during the quarter. During the same quarter in the previous year, the business earned $1.15 earnings per share. Accenture PLC’s revenue was up 7.6% compared to the same quarter last year. On average, analysts forecast that Accenture PLC will post $5.93 EPS for the current year.
In related news, insider Richard P. Clark sold 876 shares of the business’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $113.43, for a total transaction of $99,364.68. Following the completion of the transaction, the insider now owns 16,396 shares in the company, valued at approximately $1,859,798.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel T. London sold 3,686 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $115.57, for a total value of $425,991.02. Following the transaction, the insider now owns 26,023 shares of the company’s stock, valued at approximately $3,007,478.11. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Cribstone Capital Management LLC acquired a new position in Accenture PLC during the second quarter worth about $104,000. Exane Derivatives boosted its position in Accenture PLC by 92.0% in the second quarter. Exane Derivatives now owns 954 shares of the company’s stock worth $108,000 after buying an additional 457 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in Accenture PLC by 1,091.0% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,060 shares of the company’s stock worth $120,000 after buying an additional 971 shares during the last quarter. Tanaka Capital Management Inc. boosted its position in Accenture PLC by 314.8% in the second quarter. Tanaka Capital Management Inc. now owns 1,120 shares of the company’s stock worth $127,000 after buying an additional 850 shares during the last quarter. Finally, Joel Isaacson & Co. LLC boosted its position in Accenture PLC by 18.0% in the second quarter. Joel Isaacson & Co. LLC now owns 1,215 shares of the company’s stock worth $138,000 after buying an additional 185 shares during the last quarter. Institutional investors own 77.18% of the company’s stock.
Accenture PLC Company Profile
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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