Wedbush reaffirmed their outperform rating on shares of Accenture (NYSE:ACN) in a research note released on Tuesday, Marketbeat reports. Wedbush currently has a $180.00 price objective on the information technology services provider’s stock, up from their previous price objective of $165.00.

Several other analysts have also issued reports on ACN. Pivotal Research set a $180.00 price target on shares of Accenture and gave the stock a buy rating in a research report on Wednesday, March 14th. KeyCorp raised their target price on shares of Accenture from $172.00 to $181.00 and gave the company a positive rating in a research report on Monday. Robert W. Baird restated a hold rating and issued a $162.00 target price on shares of Accenture in a research report on Friday, December 22nd. SunTrust Banks restated a hold rating and issued a $164.00 target price on shares of Accenture in a research report on Thursday, December 21st. Finally, Cowen restated a buy rating and issued a $166.00 target price on shares of Accenture in a research report on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $159.04.

Shares of Accenture (NYSE:ACN) opened at $150.23 on Tuesday. The stock has a market cap of $103,474.09, a P/E ratio of 26.59, a P/E/G ratio of 2.45 and a beta of 1.01. Accenture has a 52-week low of $114.82 and a 52-week high of $165.58.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, March 22nd. The information technology services provider reported $1.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.09. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.31 billion. Accenture had a net margin of 9.43% and a return on equity of 41.79%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the business posted $1.33 EPS. equities research analysts expect that Accenture will post 6.66 earnings per share for the current year.

In other news, insider Richard Lumb sold 2,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $155.34, for a total transaction of $310,680.00. Following the completion of the transaction, the insider now owns 121,041 shares of the company’s stock, valued at $18,802,508.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David Rowland sold 3,102 shares of the firm’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $161.21, for a total transaction of $500,073.42. Following the transaction, the chief financial officer now directly owns 25,012 shares of the company’s stock, valued at approximately $4,032,184.52. The disclosure for this sale can be found here. Insiders have sold 117,249 shares of company stock valued at $18,106,228 in the last ninety days. Insiders own 0.21% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Atlanta Capital Management Co. L L C raised its stake in shares of Accenture by 4.6% during the third quarter. Atlanta Capital Management Co. L L C now owns 580,977 shares of the information technology services provider’s stock valued at $78,472,000 after acquiring an additional 25,671 shares during the last quarter. MU Investments Co. Ltd. bought a new position in Accenture during the fourth quarter worth $5,654,000. Tiedemann Wealth Management LLC raised its stake in Accenture by 13.8% during the third quarter. Tiedemann Wealth Management LLC now owns 7,066 shares of the information technology services provider’s stock worth $551,000 after buying an additional 858 shares during the last quarter. Somerset Trust Co bought a new position in Accenture during the fourth quarter worth $1,522,000. Finally, Wealthfront Inc. raised its stake in Accenture by 9.6% during the fourth quarter. Wealthfront Inc. now owns 23,247 shares of the information technology services provider’s stock worth $3,559,000 after buying an additional 2,043 shares during the last quarter. 75.57% of the stock is owned by hedge funds and other institutional investors.

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About Accenture

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 (NYSE:ACN)

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