Accenture (NYSE:ACN)‘s stock had its “buy” rating reissued by analysts at Cowen in a research report issued on Thursday. They currently have a $165.00 price objective on the information technology services provider’s stock. Cowen’s target price suggests a potential upside of 8.08% from the stock’s current price.
A number of other analysts also recently weighed in on ACN. Zacks Investment Research raised shares of Accenture from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a report on Monday, August 28th. Stifel Nicolaus increased their price target on shares of Accenture from $138.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, September 7th. Bank of America started coverage on shares of Accenture in a report on Tuesday, September 12th. They issued a “buy” rating and a $150.00 price target for the company. Berenberg Bank reissued a “buy” rating and issued a $160.00 price target on shares of Accenture in a report on Thursday, September 21st. Finally, KeyCorp reissued a “buy” rating and issued a $135.00 price target on shares of Accenture in a report on Friday, September 22nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $146.42.
Shares of Accenture (NYSE:ACN) opened at $152.66 on Thursday. Accenture has a 1-year low of $112.31 and a 1-year high of $152.90. The firm has a market cap of $97,870.00, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 2.24 and a beta of 1.08.
Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, September 28th. The information technology services provider reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.01. Accenture had a net margin of 9.37% and a return on equity of 42.65%. The firm had revenue of $9.15 billion during the quarter, compared to the consensus estimate of $9.01 billion. During the same period in the prior year, the firm earned $1.31 EPS. The business’s revenue was up 7.8% on a year-over-year basis. equities analysts anticipate that Accenture will post 6.54 EPS for the current year.
In related news, insider Richard Lumb sold 2,200 shares of Accenture stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $135.06, for a total transaction of $297,132.00. Following the completion of the transaction, the insider now directly owns 118,085 shares of the company’s stock, valued at approximately $15,948,560.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gianfranco Casati sold 20,380 shares of Accenture stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $142.72, for a total transaction of $2,908,633.60. Following the transaction, the insider now directly owns 51,014 shares of the company’s stock, valued at $7,280,718.08. The disclosure for this sale can be found here. Insiders have sold a total of 83,325 shares of company stock valued at $11,479,125 over the last ninety days. 0.21% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC increased its position in Accenture by 9.4% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,466,760 shares of the information technology services provider’s stock valued at $198,115,000 after acquiring an additional 125,739 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in Accenture by 1,074.2% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,084 shares of the information technology services provider’s stock valued at $1,497,000 after acquiring an additional 10,140 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Accenture in the 3rd quarter valued at about $1,560,000. Americafirst Capital Management LLC acquired a new stake in Accenture in the 3rd quarter valued at about $187,000. Finally, Moors & Cabot Inc. increased its position in Accenture by 34.9% in the 3rd quarter. Moors & Cabot Inc. now owns 23,138 shares of the information technology services provider’s stock valued at $3,128,000 after acquiring an additional 5,985 shares in the last quarter. 72.51% of the stock is owned by hedge funds and other institutional investors.
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.
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