Wells Fargo & Company Raises Accenture PLC (ACN) Price Target to $150.00
Accenture PLC (NYSE:ACN) had its price objective lifted by Wells Fargo & Company from $147.00 to $150.00 in a research note published on Friday morning. The firm currently has an outperform rating on the information technology services provider’s stock.
Other analysts also recently issued research reports about the stock. Berenberg Bank reiterated a buy rating and issued a $160.00 price objective on shares of Accenture PLC in a report on Thursday, September 21st. Zacks Investment Research upgraded Accenture PLC from a hold rating to a buy rating and set a $155.00 target price on the stock in a report on Thursday, September 21st. KeyCorp restated a buy rating and issued a $135.00 price target on shares of Accenture PLC in a research report on Friday, September 22nd. Morgan Stanley upped their price target on Accenture PLC from $132.00 to $140.00 and gave the company an equal weight rating in a research report on Friday, September 22nd. Finally, Robert W. Baird restated a neutral rating and issued a $148.00 price target (up from $142.00) on shares of Accenture PLC in a research report on Friday, September 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Accenture PLC presently has an average rating of Buy and a consensus target price of $140.12.
Shares of Accenture PLC (NYSE ACN) opened at 135.07 on Friday. The stock has a 50 day moving average price of $130.89 and a 200 day moving average price of $124.97. Accenture PLC has a 1-year low of $109.50 and a 1-year high of $138.15. The company has a market capitalization of $83.41 billion, a price-to-earnings ratio of 24.82 and a beta of 1.08.
Accenture PLC (NYSE:ACN) last issued its earnings results on Thursday, September 28th. The information technology services provider reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.01. The business had revenue of $9.15 billion during the quarter, compared to analysts’ expectations of $9.01 billion. Accenture PLC had a net margin of 9.37% and a return on equity of 42.65%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.31 earnings per share. On average, equities analysts anticipate that Accenture PLC will post $6.54 EPS for the current fiscal year.
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The company 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 dividend of $1.33 per share. This represents a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, October 18th. Accenture PLC’s dividend payout ratio (DPR) is 44.49%.
In other news, insider Richard Lumb sold 2,200 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $127.51, for a total value of $280,522.00. Following the completion of the transaction, the insider now owns 119,942 shares of the company’s stock, valued at $15,293,804.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Gianfranco Casati sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $130.00, for a total transaction of $650,000.00. Following the completion of the transaction, the insider now directly owns 56,014 shares of the company’s stock, valued at approximately $7,281,820. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,582 shares of company stock valued at $2,634,573. 0.21% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. TCI Wealth Advisors Inc. boosted its position in Accenture PLC by 23.4% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 854 shares of the information technology services provider’s stock valued at $106,000 after buying an additional 162 shares during the period. Bellwether Investment Group LLC grew its stake in shares of 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 acquiring an additional 359 shares in the last quarter. Manchester Capital Management LLC grew its stake in shares of Accenture PLC by 7.0% in the second quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock worth $114,000 after acquiring an additional 60 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of 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 acquiring an additional 19 shares in the last quarter. Finally, Opera Trading Capital acquired a new position in shares of Accenture PLC in the first quarter worth $119,000. 77.73% of the stock is currently owned by hedge funds and other 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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