Accenture (ACN) Rating Reiterated by Cowen
Cowen reaffirmed their buy rating on shares of Accenture (NYSE:ACN) in a research report report published on Friday morning. The brokerage currently has a $175.00 target price on the information technology services provider’s stock.
Several other brokerages have also issued reports on ACN. Robert W. Baird reissued a hold rating and issued a $155.00 target price on shares of Accenture in a research report on Thursday, December 7th. Zacks Investment Research raised Accenture from a hold rating to a buy rating and set a $151.00 target price for the company in a research report on Thursday, September 14th. Royal Bank of Canada increased their target price on Accenture from $145.00 to $148.00 and gave the stock an outperform rating in a research report on Friday, September 29th. Pivotal Research set a $180.00 target price on Accenture and gave the stock a buy rating in a research report on Wednesday, January 3rd. Finally, KeyCorp reissued a buy rating and issued a $149.00 target price on shares of Accenture in a research report on Thursday, September 28th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $156.57.
Shares of Accenture (NYSE ACN) traded up $1.00 during trading hours on Friday, hitting $160.11. The stock had a trading volume of 2,048,945 shares, compared to its average volume of 2,200,511. Accenture has a 12-month low of $112.31 and a 12-month high of $160.63. The company has a market cap of $101,714.37, a price-to-earnings ratio of 28.34, a P/E/G ratio of 2.41 and a beta of 1.08.
Accenture (NYSE:ACN) last announced its earnings results on Thursday, December 21st. The information technology services provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.12. Accenture had a return on equity of 41.79% and a net margin of 9.43%. The firm had revenue of $9.52 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the prior year, the company earned $1.58 EPS. The business’s revenue was up 11.8% compared to the same quarter last year. research analysts predict that Accenture will post 6.64 earnings per share for the current year.
In other Accenture news, insider Daniel T. London sold 3,087 shares of Accenture stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $140.05, for a total value of $432,334.35. Following the completion of the sale, the insider now owns 21,241 shares of the company’s stock, valued at approximately $2,974,802.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ellyn Shook sold 4,375 shares of Accenture stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $139.81, for a total value of $611,668.75. Following the completion of the sale, the insider now directly owns 33,081 shares of the company’s stock, valued at approximately $4,625,054.61. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 82,116 shares of company stock valued at $12,211,924. 0.21% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. Jacobi Capital Management LLC boosted its stake in shares of Accenture by 104.8% in the 3rd quarter. Jacobi Capital Management LLC now owns 727 shares of the information technology services provider’s stock worth $100,000 after buying an additional 372 shares during the last quarter. TCI Wealth Advisors Inc. boosted its stake in shares of Accenture by 23.4% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 854 shares of the information technology services provider’s stock worth $106,000 after buying an additional 162 shares during the last quarter. Manchester Capital Management LLC boosted its stake in shares of Accenture by 7.0% in the 2nd quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock worth $114,000 after buying an additional 60 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of Accenture in the 2nd quarter worth $129,000. Finally, Monroe Bank & Trust MI boosted its stake in shares of Accenture by 37.3% in the 2nd quarter. Monroe Bank & Trust MI now owns 1,288 shares of the information technology services provider’s stock worth $159,000 after buying an additional 350 shares during the last quarter. 75.28% of the stock is owned by institutional investors and hedge funds.
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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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