Accenture PLC (ACN) Receives $130.51 Average Price Target from Analysts

Shares of Accenture PLC (NYSE:ACN) have earned a consensus recommendation of “Buy” from the twenty-six brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $130.51.

Several equities analysts have commented on the stock. SunTrust Banks, Inc. lowered shares of Accenture PLC from a “buy” rating to a “hold” rating and increased their price target for the company from $122.15 to $130.00 in a research note on Wednesday, May 24th. Cantor Fitzgerald restated a “buy” rating and set a $135.00 target price on shares of Accenture PLC in a research report on Monday, May 29th. Zacks Investment Research lowered shares of Accenture PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, May 30th. Robert W. Baird reiterated a “neutral” rating and issued a $138.00 price objective (up from $132.00) on shares of Accenture PLC in a research report on Wednesday, June 14th. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a $138.00 target price (up previously from $131.50) on shares of Accenture PLC in a report on Friday, June 16th.

Accenture PLC (NYSE:ACN) traded up 0.02% on Monday, reaching $128.26. 499,854 shares of the company were exchanged. Accenture PLC has a 12-month low of $108.83 and a 12-month high of $130.67. The firm has a 50-day moving average of $126.48 and a 200 day moving average of $122.42. The firm has a market capitalization of $79.26 billion, a P/E ratio of 22.71 and a beta of 1.11.

Accenture PLC (NYSE:ACN) last issued its earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. The firm had revenue of $8.87 billion for the quarter, compared to analysts’ expectations of $8.82 billion. Accenture PLC had a net margin of 9.92% and a return on equity of 43.96%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.41 earnings per share. On average, equities analysts predict that Accenture PLC will post $5.90 earnings per share for the current year.

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In other Accenture PLC news, COO Johan Deblaere sold 5,000 shares of the company’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $122.99, for a total value of $614,950.00. Following the transaction, the chief operating officer now directly owns 126,417 shares of the company’s stock, valued at approximately $15,548,026.83. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Gianfranco Casati sold 6,836 shares of the stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $122.97, for a total value of $840,622.92. Following the transaction, the insider now directly owns 61,714 shares in the company, valued at approximately $7,588,970.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,817 shares of company stock valued at $9,920,929. 0.21% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in ACN. UBS Asset Management Americas Inc. increased its stake in shares of Accenture PLC by 0.8% in the second quarter. UBS Asset Management Americas Inc. now owns 2,688,713 shares of the information technology services provider’s stock worth $332,540,000 after buying an additional 22,465 shares in the last quarter. Quantitative Investment Management LLC increased its position in Accenture PLC by 55.8% in the second quarter. Quantitative Investment Management LLC now owns 167,000 shares of the information technology services provider’s stock valued at $20,654,000 after buying an additional 59,800 shares during the period. Tetrem Capital Management Ltd. increased its position in Accenture PLC by 20.3% in the second quarter. Tetrem Capital Management Ltd. now owns 2,214 shares of the information technology services provider’s stock valued at $274,000 after buying an additional 373 shares during the period. Columbia Partners L L C Investment Management increased its position in Accenture PLC by 3.8% in the second quarter. Columbia Partners L L C Investment Management now owns 45,878 shares of the information technology services provider’s stock valued at $5,674,000 after buying an additional 1,674 shares during the period. Finally, BRYN MAWR TRUST Co increased its position in Accenture PLC by 62.6% in the second quarter. BRYN MAWR TRUST Co now owns 4,038 shares of the information technology services provider’s stock valued at $500,000 after buying an additional 1,555 shares during the period. Institutional investors own 77.48% of the company’s stock.

About Accenture PLC

Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.

Analyst Recommendations for Accenture PLC (NYSE:ACN)

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