Credit Suisse Group Reiterates “$165.00” Price Target for Accenture (ACN)

Accenture (NYSE:ACN) has been assigned a $165.00 price target by research analysts at Credit Suisse Group in a note issued to investors on Tuesday, January 2nd. The firm currently has a “hold” rating on the information technology services provider’s stock. Credit Suisse Group’s target price would indicate a potential upside of 3.84% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Citigroup reiterated a “hold” rating and issued a $159.00 target price on shares of Accenture in a research note on Friday, December 22nd. SunTrust Banks reiterated a “hold” rating and issued a $164.00 target price on shares of Accenture in a research note on Thursday, December 21st. Bank of America lifted their target price on shares of Accenture from $150.00 to $171.00 in a research note on Friday, December 22nd. Pivotal Research lifted their target price on shares of Accenture from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, December 22nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $180.00 target price (up previously from $151.00) on shares of Accenture in a research note on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Accenture currently has an average rating of “Hold” and a consensus target price of $156.17.

Accenture (NYSE:ACN) opened at $158.90 on Tuesday. The company has a market cap of $101,870.00, a PE ratio of 28.17, a price-to-earnings-growth ratio of 2.38 and a beta of 1.08. Accenture has a one year low of $112.31 and a one year high of $159.49.

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

In other Accenture news, insider Richard P. Clark sold 1,754 shares of Accenture stock in a transaction on Monday, January 8th. The shares were sold at an average price of $158.39, for a total transaction of $277,816.06. Following the completion of the sale, the insider now owns 10,543 shares of the company’s stock, valued at approximately $1,669,905.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider ‘T Noordende Alexander M. Van sold 6,500 shares of the business’s stock in a transaction on Monday, January 1st. The shares were sold at an average price of $153.48, for a total transaction of $997,620.00. The disclosure for this sale can be found here. Insiders have sold a total of 80,683 shares of company stock valued at $11,984,979 in the last ninety days. Company insiders own 0.21% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Windward Capital Management Co. CA grew its holdings in shares of Accenture by 2.9% in the 4th quarter. Windward Capital Management Co. CA now owns 159,334 shares of the information technology services provider’s stock valued at $24,393,000 after buying an additional 4,455 shares during the period. Confluence Investment Management LLC grew its holdings in shares of Accenture by 7,097.0% in the 4th quarter. Confluence Investment Management LLC now owns 114,217 shares of the information technology services provider’s stock valued at $17,485,000 after buying an additional 112,630 shares during the period. Summit Financial Group Inc. acquired a new position in shares of Accenture in the 4th quarter valued at $227,000. Atlantic Trust Group LLC grew its holdings in shares of Accenture by 14.8% in the 3rd quarter. Atlantic Trust Group LLC now owns 179,256 shares of the information technology services provider’s stock valued at $24,213,000 after buying an additional 23,141 shares during the period. Finally, Parametric Portfolio Associates LLC grew its holdings in shares of 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 buying an additional 125,739 shares during the period. 75.23% of the stock is 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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