Moffett Nathanson started coverage on shares of Accenture (NYSE:ACN) in a research report report published on Thursday, MarketBeat.com reports. The brokerage issued a buy rating and a $200.00 price objective on the information technology services provider’s stock.
ACN has been the topic of a number of other research reports. Zacks Investment Research raised shares of Accenture from a sell rating to a hold rating in a research note on Tuesday, September 25th. BMO Capital Markets upped their target price on shares of Accenture to $180.00 and gave the company a market perform rating in a research note on Friday, September 28th. Argus upped their target price on shares of Accenture to $200.00 and gave the company a positive rating in a research note on Friday, September 28th. They noted that the move was a valuation call. Stifel Nicolaus upped their target price on shares of Accenture from $170.00 to $179.00 and gave the company a buy rating in a research note on Thursday, June 21st. Finally, Credit Suisse Group set a $170.00 target price on shares of Accenture and gave the company a hold rating in a research note on Friday, September 28th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Accenture currently has a consensus rating of Buy and a consensus price target of $176.37.
NYSE ACN opened at $171.23 on Thursday. The stock has a market capitalization of $114.83 billion, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 2.28 and a beta of 0.98. Accenture has a twelve month low of $135.72 and a twelve month high of $175.64.
Accenture (NYSE:ACN) last posted its earnings results on Thursday, September 27th. The information technology services provider reported $1.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.02. The business had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $10.01 billion. Accenture had a net margin of 9.76% and a return on equity of 41.92%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.48 earnings per share. On average, equities analysts expect that Accenture will post 7.24 EPS for the current year.
The company also recently declared a semiannual dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, October 18th will be given a $1.46 dividend. The ex-dividend date is Wednesday, October 17th. This is a positive change from Accenture’s previous semiannual dividend of $1.21. This represents a yield of 1.68%. Accenture’s payout ratio is 39.47%.
In other Accenture news, COO Johan Deblaere sold 5,000 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $173.43, for a total value of $867,150.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Pierre Nanterme sold 30,117 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $173.45, for a total transaction of $5,223,793.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,272 shares of company stock worth $8,929,801. Company insiders own 0.21% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP lifted its holdings in Accenture by 44.9% in the first quarter. GSA Capital Partners LLP now owns 3,517 shares of the information technology services provider’s stock valued at $540,000 after buying an additional 1,090 shares during the period. Koch Industries Inc. lifted its holdings in Accenture by 44.8% in the first quarter. Koch Industries Inc. now owns 4,051 shares of the information technology services provider’s stock valued at $622,000 after buying an additional 1,253 shares during the period. Gideon Capital Advisors Inc. acquired a new position in Accenture in the first quarter valued at approximately $424,000. Credit Agricole S A acquired a new position in Accenture in the first quarter valued at approximately $748,000. Finally, Baird Financial Group Inc. lifted its holdings in Accenture by 5.7% in the first quarter. Baird Financial Group Inc. now owns 118,991 shares of the information technology services provider’s stock valued at $18,267,000 after buying an additional 6,393 shares during the period. Hedge funds and other institutional investors own 70.22% of the company’s stock.
Accenture Company Profile
Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.
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