Traders Sell Accenture PLC (ACN) on Strength (ACN)
Traders sold shares of Accenture PLC (NYSE:ACN) on strength during trading hours on Monday. $43.39 million flowed into the stock on the tick-up and $67.32 million flowed out of the stock on the tick-down, for a money net flow of $23.93 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 $0.07 for the day and closed at $112.88
Several equities analysts have recently weighed in on the company. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $126.00 price objective on shares of Accenture PLC in a research note on Monday, June 20th. Cowen and Company lifted their price objective on Accenture PLC from $118.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, May 31st. Credit Suisse Group AG lowered Accenture PLC from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $120.94 to $120.00 in a research note on Friday, June 24th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Accenture PLC in a research note on Tuesday, April 19th. Finally, Pacific Crest started coverage on Accenture PLC in a research note on Tuesday, July 12th. They issued an “overweight” rating and a $129.00 price objective on the stock. Eleven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Accenture PLC has a consensus rating of “Buy” and an average target price of $119.25.
The stock has a 50-day moving average price of $114.77 and a 200 day moving average price of $110.79. The firm has a market capitalization of $70.27 billion and a P/E ratio of 19.08.
Accenture PLC (NYSE:ACN) last announced its earnings results on Thursday, June 23rd. The company reported $1.41 earnings per share for the quarter, meeting the consensus estimate of $1.41. The business had revenue of $8.43 billion for the quarter. During the same period last year, the firm posted $1.30 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts expect that Accenture PLC will post $5.33 earnings per share for the current fiscal year.
In other Accenture PLC news, insider Richard Lumb sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $116.45, for a total value of $291,125.00. Following the completion of the transaction, the insider now owns 129,863 shares of the company’s stock, valued at approximately $15,122,546.35. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Pierre Nanterme sold 46,739 shares of the company’s stock in a transaction that occurred on Wednesday, June 29th. The shares were 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 of the company’s stock, valued at approximately $23,069,956.80. The disclosure for this sale can be found here.
A number of institutional investors have recently bought and sold shares of the stock. Spectrum Management Group Inc. boosted its position in Accenture PLC by 5,640.0% in the fourth quarter. Spectrum Management Group Inc. now owns 10,045 shares of the company’s stock valued at $1,050,000 after buying an additional 9,870 shares during the period. PBWM Holdings LLC boosted its position in Accenture PLC by 108.9% in the fourth quarter. PBWM Holdings LLC now owns 10,081 shares of the company’s stock valued at $1,053,000 after buying an additional 5,255 shares during the period. GSA Capital Partners LLP boosted its position in Accenture PLC by 169.4% in the fourth quarter. GSA Capital Partners LLP now owns 11,798 shares of the company’s stock valued at $1,233,000 after buying an additional 7,419 shares during the period. Quantitative Investment Management LLC purchased a new position in Accenture PLC during the fourth quarter valued at approximately $1,233,000. Finally, Freestone Capital Holdings LLC boosted its position in Accenture PLC by 31.2% in the fourth quarter. Freestone Capital Holdings LLC now owns 12,435 shares of the company’s stock valued at $1,299,000 after buying an additional 2,957 shares during the period.
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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