Accenture (NYSE:ACN) had its price objective raised by research analysts at Citigroup from $159.00 to $163.00 in a research note issued to investors on Friday. The firm currently has a “neutral” rating on the information technology services provider’s stock. Citigroup’s price target would indicate a potential downside of 0.36% from the company’s current price.
Several other analysts have also recently commented on ACN. Pivotal Research set a $180.00 price target on Accenture and gave the company a “buy” rating in a report on Wednesday, March 7th. KeyCorp lifted their price target on Accenture from $172.00 to $181.00 and gave the company a “positive” rating in a report on Monday, March 19th. Wedbush reaffirmed an “outperform” rating and issued a $180.00 price objective (up from $165.00) on shares of Accenture in a research note on Tuesday, March 20th. Robert W. Baird lifted their price objective on Accenture from $162.00 to $165.00 and gave the company a “neutral” rating in a research note on Tuesday, March 20th. Finally, BMO Capital Markets lifted their price objective on Accenture from $156.00 to $158.00 and gave the company a “market perform” rating in a research note on Friday, March 23rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $162.11.
ACN opened at $163.59 on Friday. The stock has a market capitalization of $104.50 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 2.46 and a beta of 1.03. Accenture has a 12 month low of $122.03 and a 12 month high of $165.58.
Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, June 28th. The information technology services provider reported $1.79 EPS for the quarter, beating the consensus estimate of $1.72 by $0.07. The company had revenue of $10.32 billion during the quarter, compared to analysts’ expectations of $10.04 billion. Accenture had a return on equity of 42.01% and a net margin of 9.76%. The firm’s revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.52 EPS. equities research analysts forecast that Accenture will post 6.68 earnings per share for the current fiscal year.
In related news, insider Richard Lumb sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $156.10, for a total transaction of $312,200.00. Following the transaction, the insider now directly owns 120,025 shares of the company’s stock, valued at approximately $18,735,902.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David Rowland sold 3,270 shares of the business’s stock in a transaction that occurred on Friday, April 20th. The stock was sold at an average price of $152.93, for a total value of $500,081.10. Following the transaction, the chief financial officer now directly owns 20,243 shares in the company, valued at $3,095,761.99. The disclosure for this sale can be found here. Insiders have sold a total of 10,333 shares of company stock worth $1,586,869 over the last three months. 0.21% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Farmers National Bank acquired a new position in Accenture during the 4th quarter worth approximately $107,000. BDO Wealth Advisors LLC increased its holdings in Accenture by 105.3% during the 1st quarter. BDO Wealth Advisors LLC now owns 739 shares of the information technology services provider’s stock worth $113,000 after purchasing an additional 379 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in Accenture during the 1st quarter worth approximately $127,000. Virtue Capital Management LLC purchased a new stake in Accenture during the 4th quarter worth approximately $128,000. Finally, Well Done LLC purchased a new stake in Accenture during the 1st quarter worth approximately $161,000. 73.78% of the stock is currently owned by hedge funds and other institutional investors.
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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