Accenture (ACN) PT Raised to $184.00

Accenture (NYSE:ACN) had its price target raised by Morgan Stanley from $178.00 to $184.00 in a research note published on Friday, March 29th, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the information technology services provider’s stock.

A number of other brokerages also recently issued reports on ACN. ValuEngine upgraded Accenture from a hold rating to a buy rating in a research report on Friday, March 22nd. KeyCorp lifted their price target on Accenture from $173.00 to $195.00 and gave the company an overweight rating in a research report on Friday, March 29th. Wells Fargo & Co lifted their price target on Accenture from $165.00 to $181.00 and gave the company an in-line rating in a research report on Wednesday, March 20th. UBS Group set a $180.00 price target on Accenture and gave the company a hold rating in a research report on Thursday, March 28th. Finally, Zacks Investment Research upgraded Accenture from a hold rating to a buy rating and set a $176.00 price target for the company in a research report on Monday, December 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $183.58.

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

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

The business also recently declared a semiannual dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, April 11th will be paid a $1.46 dividend. The ex-dividend date is Wednesday, April 10th. This represents a yield of 1.66%. Accenture’s dividend payout ratio (DPR) is currently 43.32%.

In other Accenture news, CEO David Rowland sold 2,883 shares of Accenture stock in a transaction that occurred on Friday, January 25th. The stock was sold at an average price of $151.75, for a total value of $437,495.25. Following the transaction, the chief executive officer now directly owns 27,367 shares of the company’s stock, valued at approximately $4,152,942.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ellyn Shook sold 2,343 shares of Accenture stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $175.83, for a total value of $411,969.69. Following the completion of the transaction, the insider now directly owns 33,545 shares in the company, valued at $5,898,217.35. The disclosure for this sale can be found here. Insiders sold a total of 11,398 shares of company stock worth $1,870,285 over the last ninety days. Insiders own 0.18% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Financial Gravity Wealth Inc. purchased a new position in shares of Accenture during the first quarter valued at approximately $30,000. Isthmus Partners LLC increased its stake in shares of Accenture by 4.1% during the first quarter. Isthmus Partners LLC now owns 39,081 shares of the information technology services provider’s stock valued at $6,879,000 after buying an additional 1,546 shares during the period. Cypress Wealth Services LLC purchased a new position in shares of Accenture during the first quarter valued at approximately $249,000. Strs Ohio increased its stake in shares of Accenture by 0.4% during the first quarter. Strs Ohio now owns 292,680 shares of the information technology services provider’s stock valued at $51,517,000 after buying an additional 1,248 shares during the period. Finally, Providence Wealth Advisors LLC purchased a new position in shares of Accenture during the first quarter valued at approximately $245,000. 70.14% of the stock is currently owned by hedge funds and other institutional investors.

About Accenture

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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