Accenture’s (ACN) “Overweight” Rating Reaffirmed at KeyCorp
KeyCorp reiterated their overweight rating on shares of Accenture (NYSE:ACN) in a research note published on Friday morning, Marketbeat Ratings reports. KeyCorp currently has a $172.00 price objective on the information technology services provider’s stock, up from their previous price objective of $157.00. KeyCorp also issued estimates for Accenture’s Q3 2018 earnings at $1.78 EPS, Q4 2018 earnings at $1.64 EPS, FY2018 earnings at $6.61 EPS, Q1 2019 earnings at $1.78 EPS, Q2 2019 earnings at $1.65 EPS, Q3 2019 earnings at $2.04 EPS, Q4 2019 earnings at $1.80 EPS and FY2019 earnings at $7.27 EPS.
Other research analysts have also issued research reports about the stock. Berenberg Bank reiterated a buy rating and set a $160.00 price objective on shares of Accenture in a research note on Thursday, September 21st. Cowen reiterated a buy rating and set a $150.00 price objective (up previously from $135.00) on shares of Accenture in a research note on Tuesday, September 19th. Societe Generale lowered shares of Accenture from a buy rating to a hold rating and set a $144.00 price objective on the stock. in a research note on Thursday, September 28th. Susquehanna Bancshares reiterated a neutral rating and set a $144.00 price objective on shares of Accenture in a research note on Tuesday, October 3rd. Finally, Pivotal Research raised their target price on shares of Accenture from $165.00 to $180.00 and gave the stock a buy rating in a report on Friday. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Accenture currently has an average rating of Buy and an average target price of $152.78.
Accenture (ACN) opened at $153.89 on Friday. Accenture has a 12 month low of $112.31 and a 12 month high of $158.44. The company has a market cap of $101,560.94, a P/E ratio of 27.24, a P/E/G ratio of 2.26 and a beta of 1.08.
Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 21st. The information technology services provider reported $1.79 EPS for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.12. Accenture had a net margin of 9.43% and a return on equity of 41.79%. The business had revenue of $9.52 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter last year, the business earned $1.58 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. research analysts expect that Accenture will post 6.6 earnings per share for the current fiscal year.
In related news, insider Richard P. Clark sold 3,155 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $143.01, for a total value of $451,196.55. Following the completion of the transaction, the insider now owns 5,533 shares of the company’s stock, valued at approximately $791,274.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard Lumb sold 2,200 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $135.06, for a total transaction of $297,132.00. Following the completion of the transaction, 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. Insiders sold a total of 83,325 shares of company stock valued at $11,479,125 in the last ninety days. Company insiders own 0.21% of the company’s stock.
A number of institutional investors have recently bought and sold shares of ACN. Atlantic Trust Group LLC boosted its stake in shares of Accenture by 14.8% during the 3rd quarter. Atlantic Trust Group LLC now owns 179,256 shares of the information technology services provider’s stock valued at $24,213,000 after buying an additional 23,141 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of Accenture by 9.4% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,466,760 shares of the information technology services provider’s stock valued at $198,115,000 after buying an additional 125,739 shares during the period. Chicago Partners Investment Group LLC boosted its stake in shares of Accenture by 1,074.2% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,084 shares of the information technology services provider’s stock valued at $1,497,000 after buying an additional 10,140 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Accenture during the 3rd quarter valued at $1,560,000. Finally, Americafirst Capital Management LLC acquired a new stake in shares of Accenture during the 3rd quarter valued at $187,000. 72.42% of the stock is owned by hedge funds and other 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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