Accenture PLC (ACN) Rating Reiterated by KeyCorp
Accenture PLC (NYSE:ACN)‘s stock had its “buy” rating reiterated by analysts at KeyCorp in a research report issued on Friday. They presently have a $135.00 price objective on the information technology services provider’s stock. KeyCorp’s price objective would suggest a potential downside of 2.10% from the stock’s previous close.
Several other equities research analysts have also commented on the company. Zacks Investment Research upgraded Accenture PLC from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Monday, August 28th. Cowen and Company upped their target price on Accenture PLC from $131.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, June 28th. Stifel Nicolaus upped their target price on Accenture PLC from $138.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, September 7th. Cantor Fitzgerald restated a “buy” rating and set a $135.00 target price on shares of Accenture PLC in a research report on Monday, May 29th. Finally, BMO Capital Markets restated a “hold” rating and set a $130.00 target price (up previously from $125.00) on shares of Accenture PLC in a research report on Thursday, June 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $135.07.
Accenture PLC (NYSE:ACN) opened at 137.90 on Friday. The company has a market cap of $85.22 billion, a PE ratio of 24.42 and a beta of 1.11. Accenture PLC has a 12-month low of $109.50 and a 12-month high of $138.00. The stock’s 50 day moving average price is $130.89 and its 200 day moving average price is $124.97.
Accenture PLC (NYSE:ACN) last announced its earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 EPS for the quarter, meeting the consensus estimate of $1.52. Accenture PLC had a return on equity of 43.96% and a net margin of 9.92%. The company had revenue of $8.87 billion for the quarter, compared to analyst estimates of $8.82 billion. During the same quarter in the prior year, the company earned $1.41 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that Accenture PLC will post $5.90 EPS for the current year.
In related news, General Counsel Chad T. Jerdee sold 3,200 shares of the stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $122.97, for a total transaction of $393,504.00. Following the completion of the sale, the general counsel now directly owns 18,566 shares of the company’s stock, valued at $2,283,061.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard Lumb sold 2,200 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $129.26, for a total value of $284,372.00. Following the sale, the insider now directly owns 119,013 shares of the company’s stock, valued at $15,383,620.38. The disclosure for this sale can be found here. Insiders have sold 79,817 shares of company stock valued at $9,920,929 over the last ninety days. 0.21% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Intl Fcstone Inc. purchased a new stake in shares of Accenture PLC during the second quarter valued at approximately $1,876,000. Toronto Dominion Bank increased its position 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 acquiring 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 approximately $521,000. Cetera Investment Advisers increased its position 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 acquiring an additional 226 shares during the last quarter. Finally, EP Wealth Advisors LLC increased its position 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 acquiring an additional 5,763 shares during the last quarter. 77.73% of the stock is owned by institutional investors.
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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