Traders Buy Accenture PLC (ACN) on Weakness
Investors purchased shares of Accenture PLC (NYSE:ACN) on weakness during trading on Tuesday. $105.80 million flowed into the stock on the tick-up and $31.98 million flowed out of the stock on the tick-down, for a money net flow of $73.82 million into the stock. Of all companies tracked, Accenture PLC had the 10th highest net in-flow for the day. Accenture PLC traded down ($0.33) for the day and closed at $129.77
Several equities research analysts recently commented on the stock. BMO Capital Markets reissued a “hold” rating and set a $130.00 price objective (up previously from $125.00) on shares of Accenture PLC in a research note on Thursday, June 22nd. Zacks Investment Research raised shares of Accenture PLC from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research note on Monday, August 28th. Wells Fargo & Company reissued an “outperform” rating and set a $138.00 price objective (up previously from $131.50) on shares of Accenture PLC in a research note on Friday, June 16th. SunTrust Banks, Inc. downgraded shares of Accenture PLC from a “buy” rating to a “hold” rating and upped their target price for the stock from $122.15 to $130.00 in a research note on Wednesday, May 24th. Finally, Berenberg Bank set a $140.00 target price on shares of Accenture PLC and gave the stock a “buy” rating in a research note on Saturday, June 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Accenture PLC has an average rating of “Buy” and an average price target of $131.53.
The stock has a market capitalization of $82.88 billion, a PE ratio of 23.748 and a beta of 1.11. The stock has a 50 day moving average price of $129.12 and a 200 day moving average price of $124.16.
Accenture PLC (NYSE:ACN) last announced its quarterly earnings data on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. The business had revenue of $8.87 billion during the quarter, compared to analyst estimates of $8.82 billion. Accenture PLC had a return on equity of 43.96% and a net margin of 9.92%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.41 earnings per share. Equities analysts anticipate that Accenture PLC will post $5.90 EPS for the current year.
In other news, insider Richard Lumb sold 2,200 shares of the company’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $127.51, for a total value of $280,522.00. Following the completion of the sale, the insider now owns 119,942 shares in the company, valued at $15,293,804.42. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Julie Spellman Sweet sold 1,974 shares of the company’s stock in a transaction 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 owns 14,082 shares of the company’s stock, valued at approximately $1,812,071.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,817 shares of company stock valued at $9,920,929. Insiders own 0.21% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Intl Fcstone Inc. purchased a new stake in shares of Accenture PLC during the second quarter valued at $1,876,000. Toronto Dominion Bank lifted its holdings in shares of Accenture PLC by 25.0% during the second quarter. Toronto Dominion Bank now owns 210,091 shares of the information technology services provider’s stock valued at $25,979,000 after purchasing an additional 42,063 shares during the last quarter. Rikoon Group LLC purchased a new stake in shares of Accenture PLC during the second quarter valued at $521,000. Cetera Investment Advisers lifted its holdings in shares of Accenture PLC by 5.2% during the second quarter. Cetera Investment Advisers now owns 4,558 shares of the information technology services provider’s stock valued at $562,000 after purchasing an additional 226 shares during the last quarter. Finally, EP Wealth Advisors LLC lifted its holdings in shares of Accenture PLC by 7.7% during the second quarter. EP Wealth Advisors LLC now owns 80,600 shares of the information technology services provider’s stock valued at $9,969,000 after purchasing an additional 5,763 shares during the last quarter. 77.80% of the stock is owned by institutional investors and hedge funds.
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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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