Accenture PLC (NYSE:ACN) Reaches New 52-Week High at $129.80

Accenture PLC (NYSE:ACN) hit a new 52-week high during trading on Tuesday . The stock traded as high as $129.80 and last traded at $129.74, with a volume of 2,838,217 shares changing hands. The stock had previously closed at $128.82.

Several brokerages have commented on ACN. BidaskClub downgraded shares of Accenture PLC from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Cowen and Company reaffirmed a “buy” rating and issued a $135.00 target price on shares of Accenture PLC in a research note on Friday, July 28th. Berenberg Bank set a $140.00 price objective on shares of Accenture PLC and gave the stock a “buy” rating in a research report on Saturday, June 24th. BMO Capital Markets reissued a “hold” rating and set a $130.00 price objective (up previously from $125.00) on shares of Accenture PLC in a research report on Thursday, June 22nd. Finally, Morgan Stanley set a $132.00 price objective on shares of Accenture PLC and gave the stock a “hold” rating in a research report on Friday, June 16th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Accenture PLC presently has an average rating of “Buy” and an average price target of $130.71.

The company has a market cap of $78.76 billion, a P/E ratio of 22.57 and a beta of 1.11. The stock’s 50 day moving average is $127.52 and its 200 day moving average is $122.97.

Accenture PLC (NYSE:ACN) last released 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 the consensus estimate of $8.82 billion. Accenture PLC had a return on equity of 43.96% and a net margin of 9.92%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 EPS. On average, equities research analysts anticipate that Accenture PLC will post $5.90 earnings per share for the current fiscal year.

In other news, insider Gianfranco Casati sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $130.00, for a total transaction of $650,000.00. Following the transaction, the insider now owns 56,014 shares of the company’s stock, valued at approximately $7,281,820. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Julie Spellman Sweet sold 1,974 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $128.68, for a total value of $254,014.32. Following the transaction, the insider now directly owns 14,082 shares in the company, valued at approximately $1,812,071.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,817 shares of company stock worth $9,920,929. Corporate insiders own 0.21% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Coconut Grove Bank increased its position in shares of Accenture PLC by 75.7% in the first quarter. Coconut Grove Bank now owns 845 shares of the information technology services provider’s stock valued at $101,000 after buying an additional 364 shares during the period. Farmers & Merchants Investments Inc. increased its position in shares of Accenture PLC by 1.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 865 shares of the information technology services provider’s stock valued at $104,000 after buying an additional 11 shares during the period. TCI Wealth Advisors Inc. increased its position in shares of Accenture PLC by 23.4% in the second quarter. TCI Wealth Advisors Inc. now owns 854 shares of the information technology services provider’s stock valued at $106,000 after buying an additional 162 shares during the period. Howe & Rusling Inc. increased its position in shares of Accenture PLC by 14.2% in the first quarter. Howe & Rusling Inc. now owns 908 shares of the information technology services provider’s stock valued at $109,000 after buying an additional 113 shares during the period. Finally, Bellwether Investment Group LLC increased its position in Accenture PLC by 64.2% in the first quarter. Bellwether Investment Group LLC now owns 918 shares of the information technology services provider’s stock worth $110,000 after buying an additional 359 shares during the last quarter. 76.88% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: This piece was originally posted by BNB Daily and is owned by of BNB Daily. If you are reading this piece on another publication, it was copied illegally and republished in violation of US & international copyright and trademark laws. The legal version of this piece can be read at https://www.baseball-news-blog.com/2017/08/19/accenture-plc-nyseacn-reaches-new-12-month-high-at-129-80-updated-updated.html.

Accenture PLC Company Profile

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.

Receive News & Ratings for Accenture PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture PLC and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply