Accenture PLC (NYSE:ACN) had its price target lifted by Jefferies Group from $111.00 to $120.00 in a research note issued to investors on Monday, StockTargetPrices.com reports. The firm currently has a “hold” rating on the stock. Jefferies Group’s price target suggests a potential downside of 1.78% from the stock’s current price.
ACN has been the topic of a number of other reports. Zacks Investment Research lowered Accenture PLC from a “hold” rating to a “sell” rating in a report on Wednesday, September 14th. Wedbush initiated coverage on Accenture PLC in a report on Thursday, September 8th. They issued an “outperform” rating and a $125.00 price objective on the stock. Robert W. Baird reaffirmed a “neutral” rating and issued a $125.00 price objective on shares of Accenture PLC in a report on Friday, September 16th. Societe Generale raised Accenture PLC from a “hold” rating to a “buy” rating in a report on Monday, September 26th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $132.00 price objective on shares of Accenture PLC in a report on Wednesday, September 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $124.41.
Shares of Accenture PLC (NYSE:ACN) traded down 0.25% on Monday, hitting $121.86. The company’s stock had a trading volume of 611,941 shares. The firm has a market cap of $75.86 billion, a price-to-earnings ratio of 18.89 and a beta of 1.24. Accenture PLC has a 52 week low of $91.40 and a 52 week high of $124.96. The stock’s 50-day moving average price is $113.85 and its 200-day moving average price is $114.57.
Accenture PLC (NYSE:ACN) last posted its earnings results on Thursday, September 29th. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.01. The business had revenue of $8.49 billion for the quarter. Accenture PLC had a return on equity of 47.07% and a net margin of 12.00%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.15 earnings per share. Equities analysts expect that Accenture PLC will post $5.93 earnings per share for the current fiscal year.
In related news, insider Richard Lumb sold 1,250 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $113.12, for a total transaction of $141,400.00. Following the completion of the sale, the insider now owns 125,647 shares of the company’s stock, valued at $14,213,188.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Chad T. Jerdee sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $113.35, for a total value of $453,400.00. Following the sale, the general counsel now directly owns 28,755 shares of the company’s stock, valued at approximately $3,259,379.25. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Cribstone Capital Management LLC purchased a new stake in shares of Accenture PLC during the second quarter worth approximately $104,000. Exane Derivatives boosted its stake in shares of Accenture PLC by 92.0% in the second quarter. Exane Derivatives now owns 954 shares of the company’s stock worth $108,000 after buying an additional 457 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in shares of Accenture PLC by 1,091.0% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,060 shares of the company’s stock worth $120,000 after buying an additional 971 shares during the period. Tanaka Capital Management Inc. boosted its stake in shares of 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 period. Finally, City Holding Co. boosted its stake in shares of Accenture PLC by 8.4% in the second quarter. City Holding Co. now owns 1,221 shares of the company’s stock worth $138,000 after buying an additional 95 shares during the period. 77.18% of the stock is owned by institutional investors and hedge funds.
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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