Accenture PLC (ACN) Rating Reiterated by Cowen and Company

Accenture PLC (NYSE:ACN)‘s stock had its “buy” rating reaffirmed by equities researchers at Cowen and Company in a research note issued to investors on Tuesday. They currently have a $150.00 target price on the information technology services provider’s stock, up from their prior target price of $135.00. Cowen and Company’s price target would indicate a potential upside of 8.69% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Accenture PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, May 30th. Morgan Stanley set a $132.00 target price on Accenture PLC and gave the stock a “hold” rating in a research report on Friday, June 16th. BMO Capital Markets reissued a “hold” rating and set a $130.00 target price (up previously from $125.00) on shares of Accenture PLC in a research report on Thursday, June 22nd. Stifel Nicolaus raised their target price on Accenture PLC from $138.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, September 7th. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $138.00 target price (up previously from $131.50) on shares of Accenture PLC in a research report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $133.25.

Accenture PLC (NYSE ACN) opened at 138.01 on Tuesday. The firm has a 50-day moving average of $130.89 and a 200-day moving average of $124.97. Accenture PLC has a one year low of $109.50 and a one year high of $138.15. The company has a market capitalization of $85.29 billion, a P/E ratio of 24.44 and a beta of 1.11.

Accenture PLC (NYSE:ACN) last posted its quarterly earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.52. The company had revenue of $8.87 billion for the quarter, compared to analyst estimates of $8.82 billion. Accenture PLC had a return on equity of 43.96% and a net margin of 9.92%. Accenture PLC’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.41 EPS. On average, analysts anticipate that Accenture PLC will post $5.90 earnings per share for the current year.

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In other Accenture PLC news, insider Julie Spellman Sweet sold 1,974 shares of Accenture PLC stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $128.68, for a total value of $254,014.32. Following the transaction, the insider now directly owns 14,082 shares in the company, valued at approximately $1,812,071.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gianfranco Casati sold 6,836 shares of Accenture PLC stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $122.97, for a total value of $840,622.92. Following the completion of the transaction, the insider now owns 61,714 shares in the company, valued at $7,588,970.58. The disclosure for this sale can be found here. Insiders sold a total of 79,817 shares of company stock worth $9,920,929 over the last quarter. Company insiders own 0.21% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Vantage Financial Partners Ltd. Inc. purchased a new position in shares of Accenture PLC in the 2nd quarter valued at approximately $533,000. TCI Wealth Advisors Inc. boosted its stake in shares of Accenture PLC by 23.4% in the second 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 in the last quarter. Bellwether Investment Group LLC boosted 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 valued at $110,000 after buying an additional 359 shares in the last quarter. Manchester Capital Management LLC boosted 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 valued at $114,000 after buying an additional 60 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted 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 valued at $117,000 after buying an additional 19 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

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.

Analyst Recommendations for Accenture PLC (NYSE:ACN)

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