Cowen and Company reaffirmed their buy rating on shares of Accenture PLC (NYSE:ACN) in a research note issued to investors on Friday. Cowen and Company currently has a $135.00 price objective on the information technology services provider’s stock.

A number of other equities analysts also recently issued reports on ACN. Goldman Sachs Group, Inc. (The) downgraded Accenture PLC from a neutral rating to a sell rating and set a $110.00 price target on the stock. in a research report on Monday, April 3rd. SunTrust Banks, Inc. downgraded Accenture PLC from a buy rating to a hold rating and increased their price target for the stock from $122.15 to $130.00 in a research report on Wednesday, May 24th. Cantor Fitzgerald reiterated a buy rating and set a $135.00 price target on shares of Accenture PLC in a research report on Monday, May 29th. Zacks Investment Research downgraded Accenture PLC from a hold rating to a sell rating in a research report on Tuesday, May 30th. Finally, Robert W. Baird reiterated a neutral rating and set a $138.00 price target (up previously from $132.00) on shares of Accenture PLC in a research report on Wednesday, June 14th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $130.71.

Shares of Accenture PLC (NYSE:ACN) opened at 128.82 on Friday. Accenture PLC has a 52-week low of $108.83 and a 52-week high of $129.70. The company’s 50-day moving average is $125.95 and its 200 day moving average is $121.77. The firm has a market capitalization of $79.61 billion, a P/E ratio of 22.81 and a beta of 1.11.

Accenture PLC (NYSE:ACN) last issued its quarterly earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.52. The company 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%. Accenture PLC’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.41 earnings per share. Analysts expect that Accenture PLC will post $5.90 EPS for the current fiscal year.

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In related news, CEO Pierre Nanterme sold 40,134 shares of Accenture PLC stock in a transaction on Monday, June 26th. The stock was sold at an average price of $123.02, for a total value of $4,937,284.68. Following the completion of the transaction, the chief executive officer now directly owns 222,362 shares in the company, valued at $27,354,973.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Julie Spellman Sweet sold 1,974 shares of Accenture PLC stock in a transaction 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 completion of the transaction, the insider now owns 14,082 shares of the company’s stock, valued at $1,812,071.76. The disclosure for this sale can be found here. Insiders sold 74,817 shares of company stock valued at $9,252,889 over the last ninety days. Insiders own 0.21% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Coconut Grove Bank raised its position in Accenture PLC by 75.7% in the first quarter. Coconut Grove Bank now owns 845 shares of the information technology services provider’s stock worth $101,000 after buying an additional 364 shares during the period. Farmers & Merchants Investments Inc. raised its position in 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 worth $104,000 after buying an additional 11 shares during the period. Howe & Rusling Inc. raised its position in Accenture PLC by 14.2% in the first quarter. Howe & Rusling Inc. now owns 908 shares of the information technology services provider’s stock worth $109,000 after buying an additional 113 shares during the period. Bellwether Investment Group LLC raised 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 period. Finally, Parkside Financial Bank & Trust raised its position in Accenture PLC by 2.0% in the first quarter. Parkside Financial Bank & Trust now owns 978 shares of the information technology services provider’s stock worth $117,000 after buying an additional 19 shares during the period. Hedge funds and other institutional investors own 77.44% of the company’s stock.

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.

Analyst Recommendations for Accenture PLC (NYSE:ACN)

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