Accenture PLC (NYSE:ACN) had its target price upped by analysts at Barclays PLC from $112.00 to $128.00 in a report issued on Friday. The brokerage currently has an “equal weight” rating on the stock. Barclays PLC’s price target points to a potential upside of 5.91% from the stock’s previous close.
Several other brokerages also recently commented on ACN. BMO Capital Markets reissued a “hold” rating on shares of Accenture PLC in a report on Thursday, June 30th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Accenture PLC in a report on Tuesday, July 19th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $112.00 price objective (up previously from $104.00) on shares of Accenture PLC in a report on Wednesday, June 22nd. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Accenture PLC in a report on Wednesday, July 6th. Finally, Wedbush initiated coverage on Accenture PLC in a report on Thursday, September 8th. They set an “outperform” rating and a $125.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Accenture PLC presently has a consensus rating of “Buy” and a consensus target price of $124.45.
Accenture PLC (NYSE:ACN) opened at 120.86 on Friday. Accenture PLC has a 12-month low of $91.40 and a 12-month high of $124.96. The stock has a 50 day moving average price of $114.07 and a 200-day moving average price of $114.76. The firm has a market cap of $75.24 billion, a price-to-earnings ratio of 18.74 and a beta of 1.24.
Accenture PLC (NYSE:ACN) last announced its earnings results on Thursday, September 29th. The company reported $1.31 EPS for the quarter, topping the consensus estimate 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 earned $1.15 earnings per share. Equities analysts forecast that Accenture PLC will post $5.93 earnings per share for the current year.
In related news, General Counsel Chad T. Jerdee sold 4,000 shares of the firm’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $113.35, for a total value of $453,400.00. Following the completion of the sale, the general counsel now directly owns 28,755 shares in the company, valued at approximately $3,259,379.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel T. London sold 3,686 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $115.57, for a total transaction of $425,991.02. Following the completion of the sale, the insider now owns 26,023 shares of the company’s stock, valued at $3,007,478.11. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Cribstone Capital Management LLC purchased a new stake in shares of Accenture PLC during the second quarter valued at about $104,000. Exane Derivatives boosted its position in Accenture PLC by 92.0% in the second quarter. Exane Derivatives now owns 954 shares of the company’s stock valued at $108,000 after buying an additional 457 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in 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 valued at $120,000 after buying an additional 971 shares in the last quarter. 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 valued at $127,000 after buying an additional 850 shares in the last quarter. Finally, Joel Isaacson & Co. LLC boosted its position in Accenture PLC by 18.0% in the second quarter. Joel Isaacson & Co. LLC now owns 1,215 shares of the company’s stock valued at $138,000 after buying an additional 185 shares in the last quarter. Institutional investors and hedge funds own 77.18% of the company’s stock.
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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