Accenture (ACN) Receives “Hold” Rating from Robert W. Baird
Accenture (NYSE:ACN)‘s stock had its “hold” rating reaffirmed by equities researchers at Robert W. Baird in a note issued to investors on Thursday. They presently have a $155.00 price target on the information technology services provider’s stock. Robert W. Baird’s price target indicates a potential upside of 4.54% from the company’s previous close.
Other analysts have also recently issued reports about the company. Bank of America started coverage on Accenture in a research note on Tuesday, September 12th. They set a “buy” rating and a $150.00 target price for the company. Stifel Nicolaus increased their target price on Accenture from $138.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, September 7th. Zacks Investment Research raised Accenture from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Wednesday, September 6th. KeyCorp reissued a “buy” rating and set a $135.00 target price on shares of Accenture in a research note on Friday, September 22nd. Finally, Berenberg Bank reissued a “buy” rating and set a $160.00 target price on shares of Accenture in a research note on Thursday, September 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $144.38.
Shares of Accenture (NYSE ACN) opened at $148.27 on Thursday. Accenture has a 52 week low of $112.31 and a 52 week high of $148.60. The stock has a market capitalization of $97,456.00, a P/E ratio of 24.99, a P/E/G ratio of 2.19 and a beta of 1.08.
Accenture (NYSE:ACN) last posted its earnings results on Thursday, September 28th. The information technology services provider reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.01. Accenture had a return on equity of 42.65% and a net margin of 9.37%. The business had revenue of $9.15 billion during the quarter, compared to analysts’ expectations of $9.01 billion. During the same period in the prior year, the business earned $1.31 EPS. Accenture’s revenue for the quarter was up 7.8% compared to the same quarter last year. equities analysts anticipate that Accenture will post 6.54 EPS for the current year.
In other news, insider Gianfranco Casati sold 20,380 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $142.72, for a total value of $2,908,633.60. Following the completion of the sale, the insider now owns 51,014 shares of the company’s stock, valued at approximately $7,280,718.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Richard Lumb sold 2,200 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $135.06, for a total value of $297,132.00. Following the completion of the sale, the insider now directly owns 118,085 shares of the company’s stock, valued at approximately $15,948,560.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,325 shares of company stock valued at $11,479,125. Insiders own 0.21% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACN. Janus Henderson Group PLC boosted its holdings in shares of Accenture by 2,531.4% in the 2nd quarter. Janus Henderson Group PLC now owns 2,520,680 shares of the information technology services provider’s stock valued at $311,760,000 after buying an additional 2,424,888 shares during the last quarter. Capital International Investors boosted its holdings in shares of Accenture by 89.1% in the 3rd quarter. Capital International Investors now owns 4,670,977 shares of the information technology services provider’s stock valued at $630,909,000 after buying an additional 2,200,243 shares during the last quarter. BT Investment Management Ltd acquired a new stake in shares of Accenture in the 2nd quarter valued at approximately $220,158,000. BlackRock Inc. boosted its holdings in shares of Accenture by 3.0% in the 2nd quarter. BlackRock Inc. now owns 40,659,545 shares of the information technology services provider’s stock valued at $5,028,772,000 after buying an additional 1,196,578 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Accenture by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 48,468,073 shares of the information technology services provider’s stock valued at $5,994,531,000 after buying an additional 1,088,676 shares during the last quarter. 72.51% of the stock is owned by institutional investors.
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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.
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