Traders Sell Accenture (ACN) on Strength (ACN)

Investors sold shares of Accenture Plc (NYSE:ACN) on strength during trading hours on Friday. $72.95 million flowed into the stock on the tick-up and $891.33 million flowed out of the stock on the tick-down, for a money net flow of $818.38 million out of the stock. Of all companies tracked, Accenture had the 2nd highest net out-flow for the day. Accenture traded up $0.72 for the day and closed at $163.48

ACN has been the subject of several analyst reports. Wedbush reissued an “outperform” rating and issued a $180.00 target price (up previously from $165.00) on shares of Accenture in a research note on Tuesday, March 20th. Robert W. Baird boosted their target price on shares of Accenture from $162.00 to $165.00 and gave the company a “neutral” rating in a research note on Tuesday, March 20th. Pivotal Research set a $180.00 target price on shares of Accenture and gave the company a “buy” rating in a research note on Monday. ValuEngine raised shares of Accenture from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Barclays boosted their target price on shares of Accenture from $152.00 to $154.00 and gave the company an “equal weight” rating in a research note on Friday, March 23rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $161.37.

The firm has a market capitalization of $103.56 billion, a PE ratio of 27.66, a PEG ratio of 2.44 and a beta of 1.03.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, March 22nd. The information technology services provider reported $1.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.09. Accenture had a return on equity of 41.50% and a net margin of 9.18%. The business had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.31 billion. During the same quarter in the previous year, the business earned $1.33 EPS. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. analysts anticipate that Accenture Plc will post 6.69 earnings per share for the current year.

In other news, insider Richard Lumb sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $156.10, for a total transaction of $312,200.00. Following the completion of the sale, the insider now owns 120,025 shares in the company, valued at approximately $18,735,902.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Johan Deblaere sold 5,000 shares of the business’s stock in a transaction dated Monday, March 26th. The stock was sold at an average price of $150.72, for a total value of $753,600.00. Following the sale, the chief operating officer now owns 73,638 shares of the company’s stock, valued at approximately $11,098,719.36. The disclosure for this sale can be found here. Insiders have sold a total of 53,828 shares of company stock valued at $8,145,630 in the last quarter. Company insiders own 0.21% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Analysts LLC boosted its holdings in Accenture by 4.9% in the 4th quarter. Capital Analysts LLC now owns 7,937 shares of the information technology services provider’s stock worth $1,215,000 after acquiring an additional 368 shares during the period. BDO Wealth Advisors LLC boosted its holdings in Accenture by 105.3% in the 1st quarter. BDO Wealth Advisors LLC now owns 739 shares of the information technology services provider’s stock worth $113,000 after acquiring an additional 379 shares during the period. Altium Wealth Management LLC boosted its holdings in Accenture by 27.8% in the 1st quarter. Altium Wealth Management LLC now owns 1,757 shares of the information technology services provider’s stock worth $270,000 after acquiring an additional 382 shares during the period. D.A. Davidson & CO. boosted its holdings in Accenture by 4.3% in the 4th quarter. D.A. Davidson & CO. now owns 9,219 shares of the information technology services provider’s stock worth $1,411,000 after acquiring an additional 383 shares during the period. Finally, Peapack Gladstone Financial Corp boosted its holdings in Accenture by 8.5% in the 1st quarter. Peapack Gladstone Financial Corp now owns 4,932 shares of the information technology services provider’s stock worth $757,000 after acquiring an additional 386 shares during the period. Hedge funds and other institutional investors own 73.81% of the company’s stock.

Accenture Company Profile

Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.

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