Accenture PLC (ACN) Reaches New 12-Month High at $138.80
Accenture PLC (NYSE:ACN)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $138.80 and last traded at $138.55, with a volume of 1,394,901 shares trading hands. The stock had previously closed at $136.91.
ACN has been the topic of several research reports. Zacks Investment Research raised shares of Accenture PLC from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a report on Monday, August 28th. Stifel Nicolaus boosted their price objective on shares of Accenture PLC from $138.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, September 7th. Cowen and Company boosted their price objective on shares of Accenture PLC from $131.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, June 28th. BMO Capital Markets reissued a “hold” rating and set a $130.00 price objective (up from $125.00) on shares of Accenture PLC in a report on Thursday, June 22nd. Finally, Morgan Stanley set a $132.00 price objective on shares of Accenture PLC and gave the company a “hold” rating in a report on Friday, June 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Accenture PLC currently has a consensus rating of “Buy” and a consensus target price of $141.84.
The firm has a 50-day moving average of $134.90 and a 200-day moving average of $126.67. The company has a market capitalization of $85.96 billion, a PE ratio of 25.58 and a beta of 1.08.
Accenture PLC (NYSE:ACN) last posted its quarterly earnings data on Thursday, September 28th. The information technology services provider reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.01. The business had revenue of $9.15 billion during the quarter, compared to analyst estimates of $9.01 billion. Accenture PLC had a net margin of 9.37% and a return on equity of 42.65%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.31 earnings per share. Analysts forecast that Accenture PLC will post $6.56 earnings per share for the current year.
The business also recently announced a Semi-Annual dividend, which will be paid on Wednesday, November 15th. Investors of record on Thursday, October 19th will be issued a $1.33 dividend. The ex-dividend date of this dividend is Wednesday, October 18th. This represents a yield of 1.97%. Accenture PLC’s payout ratio is 44.49%.
In other Accenture PLC news, CFO David Rowland sold 3,702 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $135.04, for a total transaction of $499,918.08. Following the completion of the sale, the chief financial officer now directly owns 9,864 shares in the company, valued at $1,332,034.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel T. London sold 637 shares of the business’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $136.03, for a total transaction of $86,651.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,310 shares of company stock valued at $8,854,197. 0.21% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of ACN. Waldron LP lifted its position in shares of Accenture PLC by 93.3% during the first quarter. Waldron LP now owns 5,709 shares of the information technology services provider’s stock worth $684,000 after purchasing an additional 2,756 shares in the last quarter. Wedbush Securities Inc. raised its holdings in Accenture PLC by 70.4% in the first quarter. Wedbush Securities Inc. now owns 6,774 shares of the information technology services provider’s stock valued at $812,000 after acquiring an additional 2,798 shares in the last quarter. Neuburgh Advisers LLC raised its holdings in Accenture PLC by 574.4% in the first quarter. Neuburgh Advisers LLC now owns 61,914 shares of the information technology services provider’s stock valued at $7,422,000 after acquiring an additional 52,734 shares in the last quarter. Pax World Management LLC raised its holdings in Accenture PLC by 7.3% in the first quarter. Pax World Management LLC now owns 4,430 shares of the information technology services provider’s stock valued at $531,000 after acquiring an additional 300 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in Accenture PLC in the first quarter valued at $394,000. 77.73% of the stock is currently owned by institutional investors and hedge funds.
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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.
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