William Blair Reaffirms “Outperform” Rating for Accenture (ACN)

Accenture (NYSE:ACN)‘s stock had its “outperform” rating restated by research analysts at William Blair in a research report issued to clients and investors on Friday, March 29th, Zacks.com reports. William Blair also issued estimates for Accenture’s Q3 2019 earnings at $1.87 EPS, Q4 2019 earnings at $1.74 EPS, FY2019 earnings at $7.30 EPS, Q1 2020 earnings at $2.05 EPS, Q2 2020 earnings at $1.95 EPS, Q3 2020 earnings at $1.98 EPS, Q4 2020 earnings at $1.90 EPS and FY2020 earnings at $7.87 EPS.

Other equities research analysts have also issued research reports about the stock. KeyCorp restated a “buy” rating and issued a $173.00 price target on shares of Accenture in a research note on Friday, December 21st. ValuEngine upgraded shares of Accenture from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd. Zacks Investment Research raised shares of Accenture from a “hold” rating to a “buy” rating and set a $176.00 price objective for the company in a research note on Monday, December 10th. Bank of America upgraded shares of Accenture from a “neutral” rating to a “buy” rating and set a $143.07 price target on the stock in a report on Tuesday, January 8th. They noted that the move was a valuation call. Finally, SunTrust Banks set a $157.00 price target on shares of Accenture and gave the company a “hold” rating in a report on Wednesday, January 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. Accenture currently has a consensus rating of “Buy” and an average price target of $183.58.

NYSE ACN traded down $0.34 during trading hours on Friday, hitting $178.61. The company had a trading volume of 1,319,677 shares, compared to its average volume of 2,112,950. The company has a market cap of $120.02 billion, a P/E ratio of 26.50, a P/E/G ratio of 2.37 and a beta of 1.12. Accenture has a fifty-two week low of $132.63 and a fifty-two week high of $180.00.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, March 28th. The information technology services provider reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.16. Accenture had a net margin of 10.52% and a return on equity of 38.57%. The company had revenue of $10.45 billion during the quarter, compared to analysts’ expectations of $10.30 billion. During the same period in the prior year, the company posted $1.58 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities analysts predict that Accenture will post 7.3 earnings per share for the current fiscal year.

In other news, COO Johan Deblaere sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $175.80, for a total value of $527,400.00. Following the completion of the transaction, the chief operating officer now owns 74,937 shares in the company, valued at $13,173,924.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ellyn Shook sold 1,172 shares of the company’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $155.00, for a total transaction of $181,660.00. Following the completion of the transaction, the insider now owns 36,337 shares of the company’s stock, valued at approximately $5,632,235. The disclosure for this sale can be found here. Insiders sold 11,398 shares of company stock valued at $1,870,285 in the last quarter. Corporate insiders own 0.18% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ACN. Valley National Advisers Inc. raised its holdings in Accenture by 70.2% in the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 73 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Accenture during the first quarter valued at $27,000. Focused Wealth Management Inc boosted its position in shares of Accenture by 100.0% during the fourth quarter. Focused Wealth Management Inc now owns 200 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 100 shares during the last quarter. Financial Gravity Wealth Inc. purchased a new stake in shares of Accenture during the first quarter valued at $30,000. Finally, Quantamental Technologies LLC purchased a new stake in shares of Accenture during the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 70.14% of the company’s stock.

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.

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Analyst Recommendations for Accenture (NYSE:ACN)

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