Accenture (ACN) Stock Rating Reaffirmed by Cowen

Accenture (NYSE:ACN)‘s stock had its “buy” rating restated by equities researchers at Cowen in a research note issued to investors on Friday. They presently have a $175.00 target price on the information technology services provider’s stock. Cowen’s target price would indicate a potential upside of 9.30% from the stock’s previous close.

A number of other research firms have also weighed in on ACN. Pivotal Research restated a “buy” rating and issued a $180.00 target price on shares of Accenture in a report on Wednesday. Citigroup restated a “hold” rating and issued a $159.00 target price on shares of Accenture in a report on Friday, December 22nd. SunTrust Banks restated a “hold” rating and issued a $164.00 target price on shares of Accenture in a report on Thursday, December 21st. Bank of America upped their target price on shares of Accenture from $150.00 to $171.00 in a report on Friday, December 22nd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $180.00 target price (up previously from $151.00) on shares of Accenture in a report on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company’s stock. Accenture presently has a consensus rating of “Hold” and an average target price of $156.57.

Shares of Accenture (ACN) opened at $160.11 on Friday. Accenture has a fifty-two week low of $112.31 and a fifty-two week high of $160.63. The firm has a market cap of $101,714.37, a PE ratio of 28.34, a P/E/G ratio of 2.41 and a beta of 1.08.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, December 21st. The information technology services provider reported $1.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.12. Accenture had a net margin of 9.43% and a return on equity of 41.79%. The company had revenue of $9.52 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the prior year, the business posted $1.58 EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. equities research analysts forecast that Accenture will post 6.64 earnings per share for the current year.

In other news, insider Richard Lumb sold 2,200 shares of the stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $138.94, for a total transaction of $305,668.00. Following the completion of the transaction, the insider now directly owns 117,151 shares of the company’s stock, valued at approximately $16,276,959.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Pierre Nanterme sold 34,232 shares of the stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $152.94, for a total transaction of $5,235,442.08. Following the transaction, the chief executive officer now directly owns 262,490 shares of the company’s stock, valued at $40,145,220.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,116 shares of company stock valued at $12,211,924. Company insiders own 0.21% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Accenture by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 48,468,073 shares of the information technology services provider’s stock valued at $5,994,531,000 after acquiring an additional 1,088,676 shares during the period. BlackRock Inc. grew its position in shares of Accenture by 3.0% during the 2nd quarter. BlackRock Inc. now owns 40,659,545 shares of the information technology services provider’s stock valued at $5,028,772,000 after acquiring an additional 1,196,578 shares during the period. Capital Research Global Investors grew its position in shares of Accenture by 2.2% during the 2nd quarter. Capital Research Global Investors now owns 28,501,643 shares of the information technology services provider’s stock valued at $3,525,083,000 after acquiring an additional 605,156 shares during the period. Northern Trust Corp grew its position in shares of Accenture by 0.8% during the 2nd quarter. Northern Trust Corp now owns 9,476,570 shares of the information technology services provider’s stock valued at $1,172,063,000 after acquiring an additional 70,740 shares during the period. Finally, Independent Franchise Partners LLP grew its position in shares of Accenture by 3.7% during the 3rd quarter. Independent Franchise Partners LLP now owns 6,293,362 shares of the information technology services provider’s stock valued at $850,044,000 after acquiring an additional 222,828 shares during the period. 75.23% 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.

Analyst Recommendations for Accenture (NYSE:ACN)

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