Cantor Fitzgerald Comments on Accenture Plc’s FY2019 Earnings (ACN)

Accenture Plc (NYSE:ACN) – Cantor Fitzgerald issued their FY2019 earnings per share (EPS) estimates for Accenture in a research report issued on Monday. Cantor Fitzgerald analyst J. Foresi expects that the information technology services provider will earn $7.22 per share for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $180.00 target price on the stock.

A number of other analysts also recently commented on ACN. Stifel Nicolaus raised their price objective on Accenture from $138.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, September 7th. Bank of America initiated coverage on Accenture in a research report on Tuesday, September 12th. They issued a “buy” rating and a $150.00 price objective for the company. Zacks Investment Research downgraded Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Cowen reiterated a “buy” rating and issued a $150.00 price objective (up previously from $135.00) on shares of Accenture in a research report on Tuesday, September 19th. Finally, Berenberg Bank reiterated a “buy” rating and issued a $160.00 price objective on shares of Accenture in a research report on Thursday, September 21st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Accenture has an average rating of “Hold” and an average price target of $155.11.

Shares of Accenture (NYSE:ACN) traded up $1.29 during mid-day trading on Wednesday, hitting $157.67. The company’s stock had a trading volume of 1,597,608 shares, compared to its average volume of 1,980,000. Accenture has a 52 week low of $112.31 and a 52 week high of $158.44. The company has a market cap of $101,080.00, a P/E ratio of 27.96, a P/E/G ratio of 2.33 and a beta of 1.08.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, December 21st. The information technology services provider reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.12. Accenture had a return on equity of 41.79% and a net margin of 9.43%. The firm had revenue of $9.52 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter in the prior year, the company earned $1.58 EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year.

In related news, insider ‘T Noordende Alexander M. Van sold 6,500 shares of the firm’s stock in a transaction on Monday, January 1st. The stock was sold at an average price of $153.48, for a total transaction of $997,620.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Richard Lumb sold 2,200 shares of the firm’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $138.94, for a total value of $305,668.00. Following the sale, the insider now directly owns 117,151 shares of the company’s stock, valued at $16,276,959.94. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,929 shares of company stock valued at $11,707,163. 0.21% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Vantage Financial Partners Ltd. Inc. acquired a new stake in Accenture during the 2nd quarter valued at $533,000. Jacobi Capital Management LLC increased its holdings in Accenture by 104.8% during the 3rd quarter. Jacobi Capital Management LLC now owns 727 shares of the information technology services provider’s stock valued at $100,000 after purchasing an additional 372 shares in the last quarter. TCI Wealth Advisors Inc. increased its holdings in Accenture by 23.4% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 854 shares of the information technology services provider’s stock valued at $106,000 after purchasing an additional 162 shares in the last quarter. Manchester Capital Management LLC increased its holdings in Accenture by 7.0% during the 2nd quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock valued at $114,000 after purchasing an additional 60 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new stake in Accenture during the 2nd quarter valued at $129,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

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Accenture Company Profile

Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.

Earnings History and Estimates for Accenture (NYSE:ACN)

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