Several other equities research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Accenture PLC from a hold rating to a sell rating in a report on Wednesday, September 14th. Cantor Fitzgerald reaffirmed a buy rating on shares of Accenture PLC in a report on Monday, July 18th. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Accenture PLC in a report on Tuesday, July 19th. Morgan Stanley reaffirmed a hold rating and set a $120.00 price objective on shares of Accenture PLC in a report on Wednesday, September 21st. Finally, Wedbush initiated coverage on shares of Accenture PLC in a report on Thursday, September 8th. They set an outperform rating and a $125.00 price objective on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $121.07.
Shares of Accenture PLC (NYSE:ACN) opened at 121.64 on Monday. The stock has a 50 day moving average of $113.60 and a 200-day moving average of $114.45. Accenture PLC has a 1-year low of $91.40 and a 1-year high of $124.96. The firm has a market capitalization of $75.73 billion, a P/E ratio of 20.56 and a beta of 1.17.
Accenture PLC (NYSE:ACN) last issued its quarterly earnings results on Thursday, September 29th. The company reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.01. The company had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.46 billion. Accenture PLC had a net margin of 11.24% and a return on equity of 47.61%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.15 EPS. On average, equities analysts expect that Accenture PLC will post $5.33 earnings per share for the current year.
In other news, General Counsel Chad T. Jerdee sold 4,000 shares of the stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $113.35, for a total transaction of $453,400.00. Following the completion of the sale, the general counsel now owns 28,755 shares of the company’s stock, valued at $3,259,379.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Daniel T. London sold 3,686 shares of the stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $115.57, for a total value of $425,991.02. Following the sale, the insider now directly owns 26,023 shares of the company’s stock, valued at approximately $3,007,478.11. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Accenture PLC by 1.3% in the second quarter. Vanguard Group Inc. now owns 42,881,280 shares of the company’s stock worth $4,858,020,000 after buying an additional 538,675 shares during the period. Wellington Management Group LLP raised its stake in Accenture PLC by 1.1% in the first quarter. Wellington Management Group LLP now owns 27,433,103 shares of the company’s stock worth $3,165,780,000 after buying an additional 292,081 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in Accenture PLC by 4.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 16,972,840 shares of the company’s stock worth $1,922,853,000 after buying an additional 784,025 shares during the period. FMR LLC raised its stake in Accenture PLC by 39.4% in the second quarter. FMR LLC now owns 12,730,924 shares of the company’s stock worth $1,442,286,000 after buying an additional 3,595,128 shares during the period. Finally, BlackRock Fund Advisors raised its stake in Accenture PLC by 4.2% in the second quarter. BlackRock Fund Advisors now owns 9,680,131 shares of the company’s stock worth $1,096,662,000 after buying an additional 391,383 shares during the period. 77.18% of the stock is owned by hedge funds and other institutional investors.
About Accenture PLC
Accenture plc is engaged in providing management consulting, technology and outsourcing services. The Company’s business is structured around five operating groups, which together consists of 19 industry groups serving clients in industries globally. The Company’s segment includes Communications, Media & Technology, Financial Services, Health & Public Service, Products and Resources.
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