Accenture PLC’s (ACN) “Buy” Rating Reaffirmed at Cowen and Company
Cowen and Company reaffirmed their buy rating on shares of Accenture PLC (NYSE:ACN) in a research report report published on Tuesday. They currently have a $150.00 target price on the information technology services provider’s stock, up from their previous target price of $135.00.
ACN has been the topic of a number of other research reports. Zacks Investment Research downgraded Accenture PLC from a hold rating to a sell rating in a report on Tuesday, May 30th. Morgan Stanley set a $132.00 target price on Accenture PLC and gave the stock a hold rating in a report on Friday, June 16th. BMO Capital Markets reaffirmed a hold rating and set a $130.00 target price (up previously from $125.00) on shares of Accenture PLC in a report on Thursday, June 22nd. Stifel Nicolaus increased their target price on Accenture PLC from $138.00 to $146.00 and gave the stock a buy rating in a report on Thursday, September 7th. Finally, Wells Fargo & Company reaffirmed an outperform rating and set a $138.00 target price (up previously from $131.50) on shares of Accenture PLC in a report on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Accenture PLC currently has a consensus rating of Buy and a consensus target price of $133.25.
Accenture PLC (ACN) opened at 136.71 on Tuesday. The firm has a market cap of $84.48 billion, a price-to-earnings ratio of 24.21 and a beta of 1.11. The firm’s 50-day moving average price is $130.89 and its 200 day moving average price is $124.97. Accenture PLC has a 52-week low of $109.50 and a 52-week high of $137.79.
Accenture PLC (NYSE:ACN) last issued its quarterly earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 EPS for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $8.82 billion. During the same quarter in the prior year, the business posted $1.41 earnings per share. Accenture PLC’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts forecast that Accenture PLC will post $5.90 EPS for the current year.
In other news, COO Johan Deblaere sold 5,000 shares of the firm’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $122.99, for a total value of $614,950.00. Following the completion of the sale, the chief operating officer now owns 126,417 shares of the company’s stock, valued at $15,548,026.83. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gianfranco Casati sold 6,836 shares of the firm’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $122.97, for a total value of $840,622.92. Following the completion of the sale, the insider now directly owns 61,714 shares of the company’s stock, valued at approximately $7,588,970.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,817 shares of company stock valued at $9,920,929. 0.21% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. Intl Fcstone Inc. acquired a new stake in shares of Accenture PLC in the second quarter worth $1,876,000. Toronto Dominion Bank boosted its position in shares of Accenture PLC by 25.0% in the second quarter. Toronto Dominion Bank now owns 210,091 shares of the information technology services provider’s stock worth $25,979,000 after buying an additional 42,063 shares during the period. Rikoon Group LLC acquired a new stake in shares of Accenture PLC in the second quarter worth $521,000. Cetera Investment Advisers boosted its position in shares of Accenture PLC by 5.2% in the second quarter. Cetera Investment Advisers now owns 4,558 shares of the information technology services provider’s stock worth $562,000 after buying an additional 226 shares during the period. Finally, EP Wealth Advisors LLC boosted its position in shares of Accenture PLC by 7.7% in the second quarter. EP Wealth Advisors LLC now owns 80,600 shares of the information technology services provider’s stock worth $9,969,000 after buying an additional 5,763 shares during the period. 77.73% of the stock is owned by institutional investors and hedge funds.
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.
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