Accenture (NYSE:ACN) had its price target raised by Credit Suisse Group from $151.00 to $160.00 in a report issued on Friday. The brokerage currently has a neutral rating on the information technology services provider’s stock.
ACN has been the subject of a number of other research reports. Bank of America reaffirmed a neutral rating and set a $79.00 price target on shares of Accenture in a report on Friday. William Blair reaffirmed an outperform rating on shares of Accenture in a report on Thursday, March 22nd. BMO Capital Markets upped their price target on shares of Accenture from $156.00 to $158.00 and gave the stock a market perform rating in a report on Friday, March 23rd. Cantor Fitzgerald upped their price target on shares of Accenture from $180.00 to $185.00 and gave the stock an overweight rating in a report on Friday. Finally, KeyCorp upped their price target on shares of Accenture from $172.00 to $181.00 and gave the stock a positive rating in a report on Monday, March 19th. 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 currently has an average rating of Buy and an average price target of $162.11.
Shares of Accenture opened at $163.59 on Friday, Marketbeat reports. Accenture has a 1-year low of $122.03 and a 1-year high of $165.58. The company has a market cap of $103.93 billion, a PE ratio of 27.68, a PEG ratio of 2.45 and a beta of 1.03.
Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, June 28th. The information technology services provider reported $1.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.07. Accenture had a net margin of 9.76% and a return on equity of 42.01%. The company had revenue of $10.32 billion during the quarter, compared to the consensus estimate of $10.04 billion. During the same quarter in the prior year, the firm posted $1.52 EPS. The firm’s quarterly revenue was up 16.3% on a year-over-year basis. research analysts forecast that Accenture will post 6.7 earnings per share for the current year.
In other news, CFO David Rowland sold 3,270 shares of the firm’s stock in a transaction on Friday, April 20th. The shares were sold at an average price of $152.93, for a total transaction of $500,081.10. Following the completion of the transaction, the chief financial officer now owns 20,243 shares of the company’s stock, valued at $3,095,761.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard Lumb sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 10th. The shares were 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 disclosure for this sale can be found here. Insiders have sold 10,333 shares of company stock valued at $1,586,869 in the last ninety days. Insiders own 0.21% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Farmers National Bank bought a new position in shares of Accenture during the fourth quarter valued at $107,000. BDO Wealth Advisors LLC raised its stake in shares of Accenture by 105.3% during the first quarter. BDO Wealth Advisors LLC now owns 739 shares of the information technology services provider’s stock valued at $113,000 after acquiring an additional 379 shares during the last quarter. Penserra Capital Management LLC bought a new position in shares of Accenture during the first quarter valued at $127,000. Virtue Capital Management LLC bought a new position in shares of Accenture during the fourth quarter valued at $128,000. Finally, Well Done LLC bought a new position in shares of Accenture during the first quarter valued at $161,000. 73.78% of the stock is 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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