Analysts Set Accenture PLC (ACN) Price Target at $130.51
Accenture PLC (NYSE:ACN) has received a consensus recommendation of “Buy” from the twenty-five brokerages that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $130.51.
A number of equities analysts have recently commented on the stock. Morgan Stanley set a $132.00 price objective on shares of Accenture PLC and gave the company a “hold” rating in a research report on Friday, June 16th. Robert W. Baird restated a “neutral” rating and issued a $138.00 price objective (up from $132.00) on shares of Accenture PLC in a research report on Wednesday, June 14th. Cowen and Company raised their price objective on shares of Accenture PLC from $131.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, June 28th. Cantor Fitzgerald restated a “buy” rating and issued a $135.00 price objective on shares of Accenture PLC in a research report on Monday, May 29th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of Accenture PLC from a “neutral” rating to a “sell” rating and set a $110.00 price objective for the company. in a research report on Monday, April 3rd.
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In other news, insider Julie Spellman Sweet sold 1,974 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $128.68, for a total value of $254,014.32. Following the completion of the sale, the insider now directly owns 14,082 shares in the company, valued at approximately $1,812,071.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Pierre Nanterme sold 40,134 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $123.02, for a total transaction of $4,937,284.68. Following the completion of the sale, the chief executive officer now owns 222,362 shares of the company’s stock, valued at $27,354,973.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,817 shares of company stock valued at $9,252,889. Company insiders own 0.21% of the company’s stock.
Several large investors have recently made changes to their positions in ACN. BlackRock Inc. raised its stake in shares of Accenture PLC by 2,139.5% in the first quarter. BlackRock Inc. now owns 39,462,967 shares of the information technology services provider’s stock worth $4,730,821,000 after buying an additional 37,700,871 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Accenture PLC by 6.2% in the first quarter. Vanguard Group Inc. now owns 47,379,397 shares of the information technology services provider’s stock worth $5,679,843,000 after buying an additional 2,749,896 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Accenture PLC by 8.8% in the first quarter. Wellington Management Group LLP now owns 21,583,126 shares of the information technology services provider’s stock worth $2,587,385,000 after buying an additional 1,738,262 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Accenture PLC by 38.8% in the first quarter. Lazard Asset Management LLC now owns 4,297,555 shares of the information technology services provider’s stock worth $515,189,000 after buying an additional 1,202,048 shares during the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of Accenture PLC by 212.6% in the first quarter. Schroder Investment Management Group now owns 1,295,260 shares of the information technology services provider’s stock worth $156,105,000 after buying an additional 880,905 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.
Shares of Accenture PLC (NYSE ACN) traded down 1.04% during mid-day trading on Monday, hitting $128.16. 2,096,970 shares of the stock were exchanged. The stock’s 50-day moving average is $125.75 and its 200-day moving average is $121.44. Accenture PLC has a 52 week low of $108.83 and a 52 week high of $129.70. The stock has a market capitalization of $79.20 billion, a price-to-earnings ratio of 22.70 and a beta of 1.11.
Accenture PLC (NYSE:ACN) last posted its earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share for the quarter, hitting the consensus estimate of $1.52. The firm had revenue of $8.87 billion during the quarter, compared to the consensus estimate of $8.82 billion. Accenture PLC had a net margin of 9.92% and a return on equity of 43.96%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $1.41 earnings per share. Analysts forecast that Accenture PLC will post $5.90 earnings per share for the current fiscal year.
About Accenture PLC
Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.
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