Pivotal Research Analysts Give Accenture (NYSE:ACN) a $180.00 Price Target

Accenture (NYSE:ACN) received a $180.00 price objective from research analysts at Pivotal Research in a research note issued to investors on Thursday, December 28th. The firm currently has a “buy” rating on the information technology services provider’s stock. Pivotal Research’s price objective points to a potential upside of 12.42% from the company’s previous close.

ACN has been the topic of a number of other research reports. SunTrust Banks reissued a “hold” rating and issued a $164.00 price target on shares of Accenture in a report on Thursday, December 21st. Barclays raised their price target on shares of Accenture from $135.00 to $152.00 and gave the stock an “equal weight” rating in a report on Friday, December 22nd. Cowen reissued a “buy” rating and issued a $166.00 price target on shares of Accenture in a report on Friday, December 22nd. Zacks Investment Research cut shares of Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a $160.00 target price on shares of Accenture in a research report on Thursday, September 21st. Two 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 stock presently has an average rating of “Hold” and an average price target of $156.57.

Shares of Accenture (NYSE ACN) opened at $160.11 on Thursday. Accenture has a 52 week low of $112.31 and a 52 week high of $160.63. The stock has a market cap of $102,640.00, a P/E ratio of 28.39, a price-to-earnings-growth ratio of 2.40 and a beta of 1.08.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 21st. The information technology services provider reported $1.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.12. Accenture had a net margin of 9.43% and a return on equity of 41.79%. The firm had revenue of $9.52 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter last year, the company posted $1.58 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. analysts expect that Accenture will post 6.64 EPS for the current year.

In related news, insider Daniel T. London sold 3,087 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $140.05, for a total transaction of $432,334.35. Following the completion of the sale, the insider now directly owns 21,241 shares in the company, valued at $2,974,802.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Richard P. Clark sold 1,433 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $158.37, for a total transaction of $226,944.21. Following the sale, the chief accounting officer now owns 8,932 shares of the company’s stock, valued at $1,414,560.84. The disclosure for this sale can be found here. Insiders sold 82,116 shares of company stock valued at $12,211,924 over the last quarter. Company insiders own 0.21% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Accenture by 2.3% in the second quarter. Vanguard Group Inc. now owns 48,468,073 shares of the information technology services provider’s stock worth $5,994,531,000 after purchasing an additional 1,088,676 shares during the period. BlackRock Inc. boosted its position in shares of Accenture by 3.0% in the second quarter. BlackRock Inc. now owns 40,659,545 shares of the information technology services provider’s stock worth $5,028,772,000 after purchasing an additional 1,196,578 shares during the period. Capital Research Global Investors lifted its holdings in shares of Accenture by 2.2% in the second quarter. Capital Research Global Investors now owns 28,501,643 shares of the information technology services provider’s stock worth $3,525,083,000 after buying an additional 605,156 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Accenture by 0.8% in the second quarter. Northern Trust Corp now owns 9,476,570 shares of the information technology services provider’s stock worth $1,172,063,000 after buying an additional 70,740 shares in the last quarter. Finally, Independent Franchise Partners LLP lifted its holdings in shares of Accenture by 3.7% in the third quarter. Independent Franchise Partners LLP now owns 6,293,362 shares of the information technology services provider’s stock worth $850,044,000 after buying an additional 222,828 shares in the last quarter. 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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