Accenture (ACN) Given “Hold” Rating at SunTrust Banks

Accenture (NYSE:ACN)‘s stock had its “hold” rating reissued by equities research analysts at SunTrust Banks in a note issued to investors on Thursday, December 21st. They currently have a $164.00 price objective on the information technology services provider’s stock. SunTrust Banks’ price objective would suggest a potential upside of 2.43% from the company’s current price.

Other research analysts also recently issued research reports about the company. Berenberg Bank reiterated a “buy” rating and set a $160.00 price target on shares of Accenture in a research note on Thursday, September 21st. Cowen reiterated a “buy” rating and set a $150.00 price target (up previously from $135.00) on shares of Accenture in a research note on Tuesday, September 19th. Societe Generale cut Accenture from a “buy” rating to a “hold” rating and set a $144.00 price objective on the stock. in a report on Thursday, September 28th. Susquehanna Bancshares reissued a “neutral” rating and set a $144.00 price objective on shares of Accenture in a report on Tuesday, October 3rd. Finally, KeyCorp reissued a “buy” rating and set a $135.00 price objective on shares of Accenture in a report on Friday, September 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the stock. Accenture has a consensus rating of “Hold” and a consensus price target of $156.57.

Accenture (NYSE:ACN) opened at $160.11 on Thursday. The stock has a market capitalization of $102,640.00, a price-to-earnings ratio of 28.39, a price-to-earnings-growth ratio of 2.40 and a beta of 1.08. Accenture has a 12 month low of $112.31 and a 12 month high of $160.63.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, December 21st. The information technology services provider reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.12. The firm had revenue of $9.52 billion during the quarter, compared to the consensus estimate of $9.25 billion. Accenture had a return on equity of 41.79% and a net margin of 9.43%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.58 EPS. equities 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 Accenture stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $138.94, for a total value of $305,668.00. Following the sale, the insider now directly owns 117,151 shares in the company, valued at approximately $16,276,959.94. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Richard P. Clark sold 1,433 shares of Accenture stock in a transaction that occurred on Wednesday, January 10th. The stock was 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 in the company, valued at $1,414,560.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,116 shares of company stock worth $12,211,924. 0.21% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Flagship Harbor Advisors LLC lifted its stake in shares of Accenture by 0.4% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 2,917 shares of the information technology services provider’s stock valued at $362,000 after purchasing an additional 12 shares during the period. AlphaMark Advisors LLC lifted its stake in shares of Accenture by 0.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 2,319 shares of the information technology services provider’s stock valued at $287,000 after purchasing an additional 20 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Accenture by 1.4% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,801 shares of the information technology services provider’s stock valued at $223,000 after purchasing an additional 24 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of Accenture by 5.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,030 shares of the information technology services provider’s stock valued at $127,000 after purchasing an additional 52 shares during the period. Finally, Manchester Capital Management LLC lifted its stake in shares of Accenture by 7.0% in the 2nd quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock valued at $114,000 after purchasing an additional 60 shares during the period. Hedge funds and other institutional investors own 75.23% of the company’s stock.

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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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