Accenture (NYSE:ACN) Price Target Increased to $220.00 by Analysts at Argus

Accenture (NYSE:ACN) had its price target raised by Argus to $220.00 in a research note released on Monday, The Fly reports. They currently have a buy rating on the information technology services provider’s stock.

A number of other equities research analysts have also issued reports on ACN. Wells Fargo & Co reaffirmed a hold rating on shares of Medidata Solutions in a report on Thursday, June 13th. Deutsche Bank set a $33.00 target price on shares of Urban Outfitters and gave the stock a hold rating in a report on Monday, June 10th. BMO Capital Markets dropped their target price on shares of Methanex from $70.00 to $65.00 and set an outperform rating for the company in a report on Friday, June 28th. William Blair reaffirmed an outperform rating on shares of Accenture in a report on Friday, March 29th. Finally, Credit Suisse Group set a $180.00 target price on shares of Accenture and gave the stock a hold rating in a report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $192.38.

Shares of NYSE ACN opened at $193.81 on Monday. The stock has a market cap of $130.99 billion, a price-to-earnings ratio of 28.76, a PEG ratio of 2.58 and a beta of 1.05. The business has a fifty day moving average of $185.96. Accenture has a one year low of $132.63 and a one year high of $196.36.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, June 27th. The information technology services provider reported $1.93 EPS for the quarter, topping the consensus estimate of $1.89 by $0.04. The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $11.03 billion. Accenture had a net margin of 10.93% and a return on equity of 36.24%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.79 EPS. As a group, sell-side analysts anticipate that Accenture will post 7.33 EPS for the current fiscal year.

In other news, insider Richard Lumb sold 2,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $186.35, for a total transaction of $372,700.00. Following the transaction, the insider now owns 77,240 shares of the company’s stock, valued at approximately $14,393,674. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider ‘T Noordende Alexander M. Van sold 8,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $177.78, for a total transaction of $1,422,240.00. Following the transaction, the insider now directly owns 116,753 shares in the company, valued at approximately $20,756,348.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,078 shares of company stock worth $13,723,826. Corporate insiders own 0.18% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Monetary Management Group Inc. lifted its position in Accenture by 543.3% in the first quarter. Monetary Management Group Inc. now owns 9,650 shares of the information technology services provider’s stock valued at $1,699,000 after buying an additional 8,150 shares during the last quarter. Sandy Spring Bank lifted its position in Accenture by 17.7% in the first quarter. Sandy Spring Bank now owns 34,986 shares of the information technology services provider’s stock valued at $6,158,000 after buying an additional 5,253 shares during the last quarter. Wendell David Associates Inc. lifted its position in Accenture by 0.9% in the first quarter. Wendell David Associates Inc. now owns 37,354 shares of the information technology services provider’s stock valued at $6,575,000 after buying an additional 350 shares during the last quarter. Mason Street Advisors LLC lifted its position in Accenture by 1.2% in the first quarter. Mason Street Advisors LLC now owns 90,940 shares of the information technology services provider’s stock valued at $16,007,000 after buying an additional 1,069 shares during the last quarter. Finally, Field & Main Bank acquired a new position in Accenture in the first quarter valued at about $892,000. 69.24% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Company Profile

Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.

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Analyst Recommendations for Accenture (NYSE:ACN)

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