StockNews.com Initiates Coverage on Accenture (NYSE:ACN)

StockNews.com started coverage on shares of Accenture (NYSE:ACN – Get Rating) in a research note published on Thursday morning. The brokerage issued a buy rating on the information technology services provider’s stock.

ACN has been the subject of a number of other reports. Wedbush reissued an outperform rating and issued a $300.00 price target on shares of Accenture in a research report on Monday, March 13th. Cowen boosted their price target on shares of Accenture from $295.00 to $300.00 in a research report on Monday, December 19th. Morgan Stanley reduced their price target on shares of Accenture from $340.00 to $325.00 and set an overweight rating for the company in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Accenture from $306.00 to $327.00 in a research report on Thursday, December 15th. Finally, Robert W. Baird reduced their price target on shares of Accenture from $310.00 to $290.00 and set a neutral rating for the company in a research report on Monday, December 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Accenture currently has an average rating of Moderate Buy and an average price target of $316.50.

Accenture Trading Down 1.2 %

Accenture stock opened at $250.00 on Thursday. The stock has a market cap of $157.56 billion, a P/E ratio of 22.71, a price-to-earnings-growth ratio of 2.26 and a beta of 1.25. The company has a fifty day simple moving average of $273.70 and a 200-day simple moving average of $275.04. Accenture has a 12-month low of $242.80 and a 12-month high of $345.30.

Accenture (NYSE:ACN – Get Rating) last released its quarterly earnings data on Friday, December 16th. The information technology services provider reported $3.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.17. The business had revenue of $15.75 billion during the quarter, compared to analysts’ expectations of $15.58 billion. Accenture had a net margin of 11.31% and a return on equity of 31.49%. As a group, sell-side analysts forecast that Accenture will post 11.44 earnings per share for the current fiscal year.

Insider Transactions at Accenture

In other news, insider James O. Etheredge sold 1,790 shares of the business’s stock in a transaction dated Tuesday, December 20th. The shares were sold at an average price of $259.75, for a total transaction of $464,952.50. Following the transaction, the insider now directly owns 17,127 shares in the company, valued at $4,448,738.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Accenture news, insider James O. Etheredge sold 1,790 shares of the company’s stock in a transaction dated Tuesday, December 20th. The shares were sold at an average price of $259.75, for a total transaction of $464,952.50. Following the transaction, the insider now directly owns 17,127 shares in the company, valued at $4,448,738.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paula A. Price sold 750 shares of the company’s stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $258.77, for a total transaction of $194,077.50. Following the transaction, the director now owns 6,697 shares in the company, valued at $1,732,982.69. The disclosure for this sale can be found here. Insiders have sold a total of 39,015 shares of company stock worth $10,884,179 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Claro Advisors LLC grew its position in Accenture by 3.7% during the fourth quarter. Claro Advisors LLC now owns 8,738 shares of the information technology services provider’s stock worth $2,332,000 after buying an additional 312 shares during the period. Victory Capital Management Inc. grew its position in shares of Accenture by 18.8% in the fourth quarter. Victory Capital Management Inc. now owns 213,660 shares of the information technology services provider’s stock valued at $57,013,000 after purchasing an additional 33,876 shares during the last quarter. Capital Asset Advisory Services LLC grew its position in shares of Accenture by 32.7% in the fourth quarter. Capital Asset Advisory Services LLC now owns 5,627 shares of the information technology services provider’s stock valued at $1,506,000 after purchasing an additional 1,387 shares during the last quarter. Sheets Smith Wealth Management grew its position in shares of Accenture by 2.9% in the fourth quarter. Sheets Smith Wealth Management now owns 20,140 shares of the information technology services provider’s stock valued at $5,374,000 after purchasing an additional 570 shares during the last quarter. Finally, Great Lakes Retirement Inc. acquired a new stake in shares of Accenture in the fourth quarter valued at approximately $875,000. 73.97% of the stock is currently owned by institutional investors and hedge funds.

About Accenture

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Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following geographical segments: North America, Europe and Growth Markets. The company was founded in 1989 and is headquartered in Dublin, Ireland.