Shares of Accenture Plc (NYSE:ACN) have earned an average recommendation of "Buy" from the twenty-nine ratings firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $224.68.
Several equities research analysts recently weighed in on the company. Wells Fargo & Company lowered Accenture from an "overweight" rating to an "equal weight" rating and boosted their target price for the stock from $190.00 to $200.00 in a report on Thursday, June 18th. They noted that the move was a valuation call. Cowen boosted their target price on Accenture from $175.00 to $210.00 and gave the stock an "outperform" rating in a report on Friday, June 19th. Bank of America boosted their target price on Accenture from $191.00 to $216.00 and gave the stock an "underperform" rating in a report on Wednesday. Citigroup boosted their target price on Accenture from $230.00 to $247.00 and gave the stock a "buy" rating in a report on Friday, June 26th. Finally, Deutsche Bank boosted their target price on Accenture from $215.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, June 26th.
Shares of NYSE ACN traded up $1.32 during trading hours on Wednesday, hitting $241.52. The stock had a trading volume of 38,620 shares, compared to its average volume of 1,643,796. The company has a market capitalization of $152.08 billion, a P/E ratio of 31.65, a P/E/G ratio of 2.94 and a beta of 1.03. The firm's 50-day moving average price is $233.25 and its two-hundred day moving average price is $200.33. Accenture has a 52 week low of $137.15 and a 52 week high of $247.82.
Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, June 25th. The information technology services provider reported $1.90 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $1.84 by $0.06. The business had revenue of $10.99 billion during the quarter, compared to analysts' expectations of $10.89 billion. Accenture had a return on equity of 31.51% and a net margin of 11.11%. The firm's quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.93 EPS. Equities research analysts anticipate that Accenture will post 7.63 earnings per share for the current fiscal year.
In other Accenture news, insider Ellyn Shook sold 2,501 shares of the company's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $212.27, for a total value of $530,887.27. Following the sale, the insider now directly owns 24,071 shares in the company, valued at $5,109,551.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jean-Marc Ollagnier sold 3,773 shares of the company's stock in a transaction on Monday, July 20th. The shares were sold at an average price of $222.44, for a total value of $839,266.12. Following the completion of the sale, the insider now owns 174,816 shares in the company, valued at $38,886,071.04. The disclosure for this sale can be found here. Insiders sold 16,847 shares of company stock worth $3,710,958 over the last quarter. Company insiders own 0.10% of the company's stock.
A number of large investors have recently made changes to their positions in the business. Demars Financial Group LLC bought a new stake in Accenture in the second quarter valued at $32,000. FinTrust Capital Advisors LLC grew its holdings in shares of Accenture by 805.4% during the second quarter. FinTrust Capital Advisors LLC now owns 1,340 shares of the information technology services provider's stock worth $288,000 after purchasing an additional 1,192 shares during the last quarter. Ninety One UK Ltd grew its holdings in shares of Accenture by 280.9% during the second quarter. Ninety One UK Ltd now owns 318,364 shares of the information technology services provider's stock worth $68,359,000 after purchasing an additional 234,771 shares during the last quarter. Capital Advisors Inc. OK grew its holdings in shares of Accenture by 17.6% during the second quarter. Capital Advisors Inc. OK now owns 153,185 shares of the information technology services provider's stock worth $35,369,000 after purchasing an additional 22,956 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Accenture by 1.6% during the second quarter. PNC Financial Services Group Inc. now owns 998,061 shares of the information technology services provider's stock worth $214,304,000 after purchasing an additional 16,121 shares during the last quarter. Hedge funds and other institutional investors own 73.44% of the company's stock.
Accenture Company Profile
Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.
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