Traders Buy Shares of Accenture (ACN) on Weakness

Traders purchased shares of Accenture Plc (NYSE:ACN) on weakness during trading on Friday. $187.72 million flowed into the stock on the tick-up and $124.18 million flowed out of the stock on the tick-down, for a money net flow of $63.54 million into the stock. Of all stocks tracked, Accenture had the 27th highest net in-flow for the day. Accenture traded down ($2.88) for the day and closed at $147.35

A number of brokerages have weighed in on ACN. Barclays lifted their target price on Accenture from $152.00 to $154.00 and gave the stock an “equal weight” rating in a report on Friday. BMO Capital Markets lifted their target price on Accenture from $156.00 to $158.00 and gave the stock a “market perform” rating in a report on Friday. Pivotal Research set a $180.00 target price on Accenture and gave the stock a “buy” rating in a report on Thursday. Robert W. Baird lifted their target price on Accenture from $162.00 to $165.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Wedbush reiterated an “outperform” rating and issued a $180.00 target price (up from $165.00) on shares of Accenture in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $159.91.

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The firm has a market cap of $102,934.09, a price-to-earnings ratio of 26.08, a P/E/G ratio of 2.43 and a beta of 1.01.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, March 22nd. The information technology services provider reported $1.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.09. The company had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.31 billion. Accenture had a return on equity of 41.79% and a net margin of 9.43%. Accenture’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.33 earnings per share. analysts expect that Accenture Plc will post 6.66 EPS for the current year.

In related news, CFO David Rowland sold 3,102 shares of Accenture stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $161.21, for a total transaction of $500,073.42. Following the transaction, the chief financial officer now owns 25,012 shares of the company’s stock, valued at $4,032,184.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gianfranco Casati sold 5,000 shares of Accenture stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $152.92, for a total value of $764,600.00. Following the transaction, the insider now directly owns 46,202 shares in the company, valued at approximately $7,065,209.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 117,249 shares of company stock worth $18,106,228. 0.21% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. Farmers National Bank purchased a new position in shares of Accenture during the fourth quarter valued at approximately $107,000. Virtue Capital Management LLC purchased a new position in shares of Accenture during the fourth quarter valued at approximately $128,000. Aevitas Wealth Management Inc. purchased a new position in shares of Accenture during the fourth quarter valued at approximately $131,000. Wagner Wealth Management LLC purchased a new position in shares of Accenture during the fourth quarter valued at approximately $179,000. Finally, Santori & Peters Inc. purchased a new position in shares of Accenture during the fourth quarter valued at approximately $181,000. 75.57% of the stock is currently owned by institutional investors.

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About Accenture

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.

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