Accenture PLC (NYSE:ACN) posted its earnings results on Thursday. The company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.01. The company had revenue of $8.49 billion for the quarter. Accenture PLC had a net margin of 12.00% and a return on equity of 47.07%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.15 earnings per share. Accenture PLC updated its FY17 guidance to $5.75-5.98 EPS.
Shares of Accenture PLC (NYSE:ACN) opened at 122.17 on Monday. Accenture PLC has a 52 week low of $91.40 and a 52 week high of $124.96. The firm has a market cap of $76.06 billion, a PE ratio of 20.65 and a beta of 1.17. The company’s 50-day moving average is $113.85 and its 200-day moving average is $114.57.
Several equities analysts have weighed in on the stock. Cantor Fitzgerald reiterated a “buy” rating and issued a $126.00 target price on shares of Accenture PLC in a report on Monday, June 20th. Barclays PLC boosted their target price on shares of Accenture PLC from $112.00 to $128.00 and gave the company an “equal weight” rating in a report on Friday. Credit Suisse Group AG lowered shares of Accenture PLC from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $120.94 to $120.00 in a report on Friday, June 24th. Citigroup Inc. boosted their target price on shares of Accenture PLC from $115.50 to $116.00 and gave the company a “neutral” rating in a report on Wednesday, September 28th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $125.00 target price (up from $118.00) on shares of Accenture PLC in a report on Sunday. One analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have issued 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 $123.45.
In other news, insider Richard Lumb sold 1,250 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $113.12, for a total transaction of $141,400.00. Following the transaction, the insider now directly owns 125,647 shares of the company’s stock, valued at $14,213,188.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel T. London sold 3,686 shares of the business’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $115.57, for a total transaction of $425,991.02. Following the transaction, the insider now directly owns 26,023 shares in the company, valued at $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 and other institutional investors have recently bought and sold shares of ACN. Tanaka Capital Management Inc. boosted its position in Accenture PLC by 314.8% in the second quarter. Tanaka Capital Management Inc. now owns 1,120 shares of the company’s stock worth $127,000 after buying an additional 850 shares during the last quarter. Vaughan David Investments Inc. IL raised its stake in shares of Accenture PLC by 2.1% in the second quarter. Vaughan David Investments Inc. IL now owns 1,838 shares of the company’s stock worth $208,000 after buying an additional 38 shares during the period. Lakeview Capital Partners LLC bought a new stake in shares of Accenture PLC during the second quarter worth about $233,000. WFG Advisors LP raised its stake in shares of Accenture PLC by 39.1% in the second quarter. WFG Advisors LP now owns 2,162 shares of the company’s stock worth $245,000 after buying an additional 608 shares during the period. Finally, Mycio Wealth Partners LLC raised its stake in shares of Accenture PLC by 37.6% in the second quarter. Mycio Wealth Partners LLC now owns 2,743 shares of the company’s stock worth $311,000 after buying an additional 750 shares during the period. 77.18% of the stock is currently owned by institutional investors and hedge funds.
Accenture PLC Company Profile
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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