Accenture PLC (ACN) PT Raised to $139.00 at Cantor Fitzgerald
Accenture PLC (NYSE:ACN) had its target price increased by equities researchers at Cantor Fitzgerald from $132.00 to $139.00 in a report released on Monday, StockTargetPrices.com reports. The brokerage currently has a “buy” rating on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 13.78% from the stock’s current price.
ACN has been the subject of several other research reports. Barclays PLC lifted their price target on Accenture PLC from $112.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Friday. Credit Suisse Group AG lowered Accenture PLC from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $120.94 to $120.00 in a research note on Friday, June 24th. Citigroup Inc. boosted their target price on Accenture PLC from $115.50 to $116.00 and gave the company a “neutral” rating in a research note on Wednesday, September 28th. BMO Capital Markets reissued a “market perform” rating and issued a $125.00 target price (up previously from $118.00) on shares of Accenture PLC in a research note on Sunday. Finally, Pacific Crest initiated coverage on Accenture PLC in a research note on Tuesday, July 12th. They issued an “overweight” rating and a $129.00 target price for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $124.41.
Accenture PLC (NYSE:ACN) traded down 0.25% during midday trading on Monday, reaching $121.86. The company had a trading volume of 611,941 shares. Accenture PLC has a one year low of $91.40 and a one year high of $124.96. The stock has a market capitalization of $75.86 billion, a price-to-earnings ratio of 18.89 and a beta of 1.24. The company has a 50-day moving average price of $113.85 and a 200-day moving average price of $114.57.
Accenture PLC (NYSE:ACN) last issued its quarterly earnings results on Thursday, September 29th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 period last year, the firm earned $1.15 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities analysts expect that Accenture PLC will post $5.93 earnings per share for the current year.
In other news, insider Richard Lumb sold 1,250 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $113.12, for a total transaction of $141,400.00. Following the transaction, the insider now directly owns 125,647 shares of the company’s stock, valued at approximately $14,213,188.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Richard P. Clark sold 876 shares of the stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $113.43, for a total value of $99,364.68. Following the transaction, the insider now directly owns 16,396 shares in the company, valued at $1,859,798.28. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Torray LLC boosted its position in Accenture PLC by 42.5% in the first quarter. Torray LLC now owns 578,551 shares of the company’s stock valued at $66,765,000 after buying an additional 172,515 shares during the last quarter. Raab & Moskowitz Asset Management LLC bought a new position in shares of Accenture PLC during the first quarter worth approximately $211,000. CIBC World Markets Inc. boosted its position in shares of Accenture PLC by 3.0% in the first quarter. CIBC World Markets Inc. now owns 71,746 shares of the company’s stock worth $8,279,000 after buying an additional 2,114 shares in the last quarter. Parametrica Management Ltd bought a new position in shares of Accenture PLC during the first quarter worth approximately $339,000. Finally, Pacad Investment Ltd. boosted its position in shares of Accenture PLC by 517.9% in the first quarter. Pacad Investment Ltd. now owns 44,488 shares of the company’s stock worth $5,134,000 after buying an additional 37,288 shares in the last quarter. 77.18% of the stock is currently owned by hedge funds and other institutional investors.
About Accenture PLC
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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