Accenture Plc (NYSE:ACN) – Cantor Fitzgerald boosted their FY2018 earnings per share estimates for Accenture in a report issued on Monday, Zacks Investment Research reports. Cantor Fitzgerald analyst J. Foresi now forecasts that the information technology services provider will post earnings of $6.63 per share for the year, up from their prior forecast of $6.55. Cantor Fitzgerald currently has a “Overweight” rating and a $180.00 price target on the stock.
Accenture (NYSE:ACN) last announced its earnings results on Thursday, December 21st. The information technology services provider reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.12. Accenture had a net margin of 9.43% and a return on equity of 41.79%. The business had revenue of $9.52 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter last year, the firm earned $1.58 earnings per share. Accenture’s quarterly revenue was up 11.8% on a year-over-year basis.
Several other equities research analysts also recently commented on the stock. Zacks Investment Research raised shares of Accenture from a “hold” rating to a “buy” rating and set a $151.00 target price for the company in a research report on Thursday, September 14th. Deutsche Bank boosted their target price on shares of Accenture to $165.00 in a research report on Monday, December 11th. KeyCorp restated a “buy” rating and set a $149.00 price target on shares of Accenture in a report on Sunday, October 29th. Pivotal Research assumed coverage on shares of Accenture in a report on Wednesday, November 8th. They set a “buy” rating and a $165.00 price target on the stock. Finally, Cowen set a $150.00 price target on shares of Accenture and gave the stock a “buy” rating in a report on Monday, October 23rd. Two equities 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. The company presently has a consensus rating of “Hold” and an average target price of $156.17.
Accenture (ACN) traded down $0.56 on Wednesday, reaching $158.90. 1,624,000 shares of the company’s stock traded hands, compared to its average volume of 2,278,057. The company has a market capitalization of $101,860.00, a P/E ratio of 28.17, a P/E/G ratio of 2.38 and a beta of 1.08. Accenture has a 12-month low of $112.31 and a 12-month high of $159.49.
Institutional investors have recently made changes to their positions in the company. Jacobi Capital Management LLC boosted its position in Accenture by 104.8% during the 3rd quarter. Jacobi Capital Management LLC now owns 727 shares of the information technology services provider’s stock valued at $100,000 after buying an additional 372 shares during the period. TCI Wealth Advisors Inc. boosted its position in Accenture by 23.4% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 854 shares of the information technology services provider’s stock valued at $106,000 after buying an additional 162 shares during the period. Manchester Capital Management LLC boosted its position in Accenture by 7.0% during the 2nd quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock valued at $114,000 after buying an additional 60 shares during the period. Captrust Financial Advisors purchased a new stake in Accenture during the 2nd quarter valued at $129,000. Finally, Monroe Bank & Trust MI lifted its position in shares of Accenture by 37.3% in the 2nd quarter. Monroe Bank & Trust MI now owns 1,288 shares of the information technology services provider’s stock worth $159,000 after purchasing an additional 350 shares during the period. 75.23% of the stock is owned by institutional investors.
In other news, CAO Richard P. Clark sold 1,433 shares of the company’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $158.37, for a total value of $226,944.21. Following the completion of the sale, the chief accounting officer now owns 8,932 shares of the company’s stock, valued at approximately $1,414,560.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard Lumb sold 2,200 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 117,151 shares of the company’s stock, valued at approximately $16,276,959.94. The disclosure for this sale can be found here. Insiders sold a total of 82,116 shares of company stock worth $12,211,924 in the last three months. Insiders own 0.21% of the company’s stock.
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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.
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