Equities research analysts at Bank of America Corporation began coverage on shares of Accenture PLC (NYSE:ACN) in a research report issued to clients and investors on Tuesday. The brokerage set a “buy” rating and a $150.00 price target on the information technology services provider’s stock. Bank of America Corporation’s target price indicates a potential upside of 11.29% from the company’s previous close.

Several other equities research analysts have also recently issued reports on ACN. SunTrust Banks, Inc. cut Accenture PLC from a “buy” rating to a “hold” rating and lifted their target price for the stock from $122.15 to $130.00 in a report on Wednesday, May 24th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $135.00 target price on shares of Accenture PLC in a report on Monday, May 29th. Zacks Investment Research cut Accenture PLC from a “hold” rating to a “sell” rating in a report on Tuesday, May 30th. Robert W. Baird reaffirmed a “neutral” rating and issued a $138.00 target price (up from $132.00) on shares of Accenture PLC in a report on Wednesday, June 14th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $138.00 target price (up from $131.50) on shares of Accenture PLC in a report on Friday, June 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Accenture PLC presently has a consensus rating of “Buy” and an average target price of $132.33.

Accenture PLC (ACN) opened at 134.78 on Tuesday. The company has a market capitalization of $83.29 billion, a price-to-earnings ratio of 23.87 and a beta of 1.11. Accenture PLC has a 12 month low of $108.83 and a 12 month high of $136.95. The stock’s 50 day moving average price is $129.89 and its 200 day moving average price is $124.53.

Accenture PLC (NYSE:ACN) last issued its earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.52. Accenture PLC had a return on equity of 43.96% and a net margin of 9.92%. The firm had revenue of $8.87 billion for the quarter, compared to analysts’ expectations of $8.82 billion. During the same period in the previous year, the firm posted $1.41 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that Accenture PLC will post $5.90 earnings per share for the current fiscal year.

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In related news, insider Richard Lumb sold 2,200 shares of the business’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Chad T. Jerdee sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $122.97, for a total value of $393,504.00. Following the completion of the sale, the general counsel now owns 18,566 shares of the company’s stock, valued at approximately $2,283,061.02. The disclosure for this sale can be found here. Insiders sold 79,817 shares of company stock valued at $9,920,929 in the last quarter. 0.21% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Coconut Grove Bank boosted its holdings in shares of Accenture PLC by 75.7% in the first quarter. Coconut Grove Bank now owns 845 shares of the information technology services provider’s stock valued at $101,000 after purchasing an additional 364 shares during the period. TCI Wealth Advisors Inc. boosted its holdings in shares of Accenture PLC by 23.4% in the second quarter. TCI Wealth Advisors Inc. now owns 854 shares of the information technology services provider’s stock valued at $106,000 after purchasing an additional 162 shares during the period. Bellwether Investment Group LLC boosted its holdings in shares of Accenture PLC by 64.2% in the first quarter. Bellwether Investment Group LLC now owns 918 shares of the information technology services provider’s stock valued at $110,000 after purchasing an additional 359 shares during the period. Manchester Capital Management LLC boosted its holdings in shares of Accenture PLC by 7.0% in the second quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock valued at $114,000 after purchasing an additional 60 shares during the period. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of Accenture PLC by 2.0% in the first quarter. Parkside Financial Bank & Trust now owns 978 shares of the information technology services provider’s stock valued at $117,000 after purchasing an additional 19 shares during the period. Hedge funds and other institutional investors own 77.80% of the company’s stock.

Accenture PLC Company Profile

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.

Analyst Recommendations for Accenture PLC (NYSE:ACN)

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