Accenture Plc (ACN) Given Consensus Rating of “Buy” by Brokerages

Accenture Plc (NYSE:ACN) has earned an average rating of “Buy” from the twenty-five analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $171.50.

Several brokerages recently commented on ACN. Zacks Investment Research lowered shares of Accenture from a “hold” rating to a “sell” rating in a research note on Wednesday, November 28th. Citigroup upgraded shares of Accenture from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $161.00 to $169.00 in a research note on Wednesday, January 16th. KeyCorp reiterated a “buy” rating and set a $173.00 price target on shares of Accenture in a research note on Friday, December 21st. Cantor Fitzgerald reiterated a “buy” rating and set a $193.00 price target on shares of Accenture in a research note on Thursday, December 13th. Finally, SunTrust Banks set a $157.00 price target on shares of Accenture and gave the stock a “hold” rating in a research note on Wednesday, January 2nd.

Shares of ACN opened at $152.02 on Friday. Accenture has a twelve month low of $132.63 and a twelve month high of $175.64. The firm has a market capitalization of $101.13 billion, a PE ratio of 22.55, a PEG ratio of 2.05 and a beta of 1.10.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, December 20th. The information technology services provider reported $1.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.12. Accenture had a net margin of 9.99% and a return on equity of 40.31%. The firm had revenue of $10.61 billion for the quarter, compared to analyst estimates of $10.54 billion. During the same period last year, the business earned $1.79 EPS. Accenture’s revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts anticipate that Accenture will post 7.2 earnings per share for the current fiscal year.

In other Accenture news, insider Gianfranco Casati sold 18,258 shares of the firm’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $158.19, for a total transaction of $2,888,233.02. Following the transaction, the insider now directly owns 49,476 shares of the company’s stock, valued at approximately $7,826,608.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Pierre Nanterme sold 37,846 shares of the firm’s stock in a transaction on Monday, December 24th. The stock was sold at an average price of $135.16, for a total transaction of $5,115,265.36. Following the transaction, the chief executive officer now directly owns 368,212 shares in the company, valued at $49,767,533.92. The disclosure for this sale can be found here. Insiders have sold a total of 80,463 shares of company stock worth $11,563,050 over the last three months. 0.18% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Crescent Grove Advisors LLC boosted its holdings in shares of Accenture by 27.8% in the fourth quarter. Crescent Grove Advisors LLC now owns 5,310 shares of the information technology services provider’s stock valued at $749,000 after acquiring an additional 1,156 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its holdings in shares of Accenture by 7.9% in the fourth quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 17,273 shares of the information technology services provider’s stock valued at $2,432,000 after acquiring an additional 1,271 shares in the last quarter. Advisor Partners LLC boosted its holdings in shares of Accenture by 14.4% in the fourth quarter. Advisor Partners LLC now owns 16,534 shares of the information technology services provider’s stock valued at $2,331,000 after acquiring an additional 2,080 shares in the last quarter. Parsec Financial Management Inc. boosted its holdings in shares of Accenture by 1.8% in the fourth quarter. Parsec Financial Management Inc. now owns 9,862 shares of the information technology services provider’s stock valued at $1,391,000 after acquiring an additional 175 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in shares of Accenture by 11.7% in the fourth quarter. D.A. Davidson & CO. now owns 11,852 shares of the information technology services provider’s stock valued at $1,671,000 after acquiring an additional 1,241 shares in the last quarter. 70.54% of the stock is currently owned by institutional investors.

Accenture Company Profile

Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.

Featured Story: Technical Analysis of Stocks and What It Means

Analyst Recommendations for Accenture (NYSE:ACN)

Receive News & Ratings for Accenture Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply