Accenture PLC (NYSE:ACN)‘s stock had its “hold” rating restated by equities researchers at Citigroup Inc. in a report issued on Friday. They presently have a $120.00 price target on the stock. Citigroup Inc.’s price objective indicates a potential downside of 1.35% from the stock’s previous close.
ACN has been the subject of several other reports. Cantor Fitzgerald restated a “buy” rating and set a $126.00 price objective on shares of Accenture PLC in a research report on Monday, June 20th. Bank of America Corp. restated a “hold” rating on shares of Accenture PLC in a research report on Monday, June 20th. Sanford C. Bernstein restated a “market perform” rating and set a $112.00 price objective (up from $104.00) on shares of Accenture PLC in a research report on Wednesday, June 22nd. Susquehanna restated a “positive” rating and set a $130.00 price objective on shares of Accenture PLC in a research report on Wednesday, June 22nd. Finally, Royal Bank Of Canada lifted their price objective on Accenture PLC from $121.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, June 24th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Accenture PLC currently has an average rating of “Buy” and a consensus target price of $122.42.
Accenture PLC (NYSE:ACN) traded up 0.68% on Friday, hitting $122.47. The stock had a trading volume of 1,439,750 shares. The company’s 50-day moving average price is $113.60 and its 200 day moving average price is $114.45. Accenture PLC has a one year low of $91.40 and a one year high of $124.96. The firm has a market cap of $76.24 billion, a price-to-earnings ratio of 20.70 and a beta of 1.17.
Accenture PLC (NYSE:ACN) last posted its quarterly earnings results on Thursday, September 29th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.01. Accenture PLC had a net margin of 11.24% and a return on equity of 47.61%. The company earned $8.49 billion during the quarter. During the same quarter in the previous year, the business posted $1.15 earnings per share. Accenture PLC’s revenue was up 7.6% on a year-over-year basis. 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 business’s stock in a transaction on Thursday, July 21st. The shares were 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 directly owns 28,755 shares of the company’s stock, valued at approximately $3,259,379.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard P. Clark sold 876 shares of the business’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $113.43, for a total transaction of $99,364.68. Following the sale, the insider now directly owns 16,396 shares of the company’s stock, valued at $1,859,798.28. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.
Several hedge funds have recently made changes to their positions in ACN. Parametrica Management Ltd acquired a new stake in shares of Accenture PLC during the first quarter worth $339,000. CIBC World Markets Inc. boosted its stake in shares of Accenture PLC by 3.0% in the first quarter. CIBC World Markets Inc. now owns 71,746 shares of the company’s stock worth $8,279,000 after buying an additional 2,114 shares during the period. Raab & Moskowitz Asset Management LLC acquired a new stake in shares of Accenture PLC during the first quarter worth $211,000. Torray LLC boosted its stake in shares of Accenture PLC by 42.5% in the first quarter. Torray LLC now owns 578,551 shares of the company’s stock worth $66,765,000 after buying an additional 172,515 shares during the period. Finally, IFP Advisors Inc boosted its stake in shares of Accenture PLC by 18.1% in the first quarter. IFP Advisors Inc now owns 12,264 shares of the company’s stock worth $1,415,000 after buying an additional 1,880 shares during the period. 77.18% of the stock is owned by 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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