BMO Capital Markets Raises Accenture PLC (ACN) Price Target to $140.00
Accenture PLC (NYSE:ACN) had its price target lifted by BMO Capital Markets from $130.00 to $140.00 in a research note released on Friday. They currently have a market perform rating on the information technology services provider’s stock.
ACN has been the topic of a number of other reports. Berenberg Bank set a $140.00 target price on shares of Accenture PLC and gave the company a buy rating in a research report on Saturday, June 24th. KeyCorp reissued a buy rating and issued a $149.00 price target on shares of Accenture PLC in a research report on Thursday, September 28th. Wells Fargo & Company upped their price objective on shares of Accenture PLC from $147.00 to $150.00 and gave the company an outperform rating in a research note on Friday. Cantor Fitzgerald restated a buy rating and issued a $135.00 price objective on shares of Accenture PLC in a research note on Thursday, September 28th. Finally, Robert W. Baird raised their price objective on Accenture PLC from $148.00 to $150.00 and gave the stock a neutral rating in a report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $140.21.
Shares of Accenture PLC (ACN) opened at 135.44 on Friday. Accenture PLC has a 1-year low of $112.31 and a 1-year high of $138.70. The stock has a market cap of $83.64 billion, a P/E ratio of 24.89 and a beta of 1.08. The firm’s 50-day moving average price is $132.82 and its 200 day moving average price is $125.81.
Accenture PLC (NYSE:ACN) last released its quarterly earnings data on Thursday, September 28th. The information technology services provider reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.01. Accenture PLC had a net margin of 9.37% and a return on equity of 42.65%. The company had revenue of $9.15 billion for the quarter, compared to analysts’ expectations of $9.01 billion. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $1.31 earnings per share. On average, equities analysts expect that Accenture PLC will post $6.54 earnings per share for the current fiscal year.
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The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Thursday, October 19th will be paid a dividend of $1.33 per share. The ex-dividend date is Wednesday, October 18th. This represents a dividend yield of 1.97%. Accenture PLC’s dividend payout ratio (DPR) is presently 44.49%.
In related news, insider Ellyn Shook sold 4,400 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $125.00, for a total value of $550,000.00. Following the completion of the transaction, the insider now directly owns 37,344 shares of the company’s stock, valued at approximately $4,668,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard Lumb sold 2,200 shares of Accenture PLC stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $127.51, for a total value of $280,522.00. Following the transaction, the insider now directly owns 119,942 shares of the company’s stock, valued at $15,293,804.42. The disclosure for this sale can be found here. Insiders sold a total of 20,582 shares of company stock valued at $2,634,573 in the last quarter. Insiders own 0.21% of the company’s stock.
A number of institutional investors have recently bought and sold shares of ACN. Bath Savings Trust Co increased its position in shares of Accenture PLC by 1.7% in the third quarter. Bath Savings Trust Co now owns 31,375 shares of the information technology services provider’s stock valued at $4,237,000 after buying an additional 530 shares in the last quarter. Intl Fcstone Inc. acquired a new position in shares of Accenture PLC during the 2nd quarter worth $1,876,000. Toronto Dominion Bank raised its stake in shares of Accenture PLC by 25.0% during the 2nd quarter. Toronto Dominion Bank now owns 210,091 shares of the information technology services provider’s stock worth $25,979,000 after buying an additional 42,063 shares during the last quarter. Rikoon Group LLC acquired a new position in shares of Accenture PLC during the 2nd quarter worth $521,000. Finally, Cetera Investment Advisers raised its stake in shares of Accenture PLC by 5.2% during the 2nd quarter. Cetera Investment Advisers now owns 4,558 shares of the information technology services provider’s stock worth $562,000 after buying an additional 226 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors.
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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