Accenture (ACN) PT Set at $165.00 by Credit Suisse Group

Credit Suisse Group set a $165.00 price objective on Accenture (NYSE:ACN) in a research report report published on Tuesday. The brokerage currently has a hold rating on the information technology services provider’s stock.

A number of other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of Accenture from a hold rating to a buy rating and set a $145.00 price target for the company in a research note on Wednesday, September 6th. Stifel Nicolaus boosted their price target on shares of Accenture from $138.00 to $146.00 and gave the stock a buy rating in a research note on Thursday, September 7th. Deutsche Bank boosted their price target on shares of Accenture to $165.00 in a research note on Monday, December 11th. KeyCorp reissued a buy rating and issued a $149.00 price target on shares of Accenture in a research note on Sunday, October 29th. Finally, Pivotal Research initiated coverage on shares of Accenture in a research note on Wednesday, November 8th. They issued a buy rating and a $165.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $155.11.

Shares of Accenture (NYSE:ACN) opened at $157.67 on Tuesday. The firm has a market cap of $101,080.00, a P/E ratio of 27.96, a P/E/G ratio of 2.33 and a beta of 1.08. Accenture has a twelve month low of $112.31 and a twelve month high of $158.44.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 21st. The information technology services provider reported $1.79 EPS for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.12. Accenture had a net margin of 9.43% and a return on equity of 41.79%. The business had revenue of $9.52 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the previous year, the company earned $1.58 EPS. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. equities analysts predict that Accenture will post 6.64 earnings per share for the current year.

In other news, insider Richard Lumb sold 2,200 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $138.94, for a total value of $305,668.00. Following the completion of the sale, the insider now owns 117,151 shares of the company’s stock, valued at approximately $16,276,959.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider ‘T Noordende Alexander M. Van sold 6,500 shares of the stock in a transaction on Monday, January 1st. The shares were sold at an average price of $153.48, for a total transaction of $997,620.00. The disclosure for this sale can be found here. Insiders sold a total of 78,929 shares of company stock valued at $11,707,163 in the last ninety days. 0.21% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in ACN. Daiwa Securities Group Inc. boosted its position in Accenture by 2.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 122,475 shares of the information technology services provider’s stock valued at $15,147,000 after buying an additional 3,101 shares during the period. Whitnell & Co. boosted its position in Accenture by 5.1% during the 2nd quarter. Whitnell & Co. now owns 13,274 shares of the information technology services provider’s stock valued at $1,642,000 after buying an additional 650 shares during the period. Papp L Roy & Associates boosted its position in Accenture by 1.0% during the 2nd quarter. Papp L Roy & Associates now owns 173,258 shares of the information technology services provider’s stock valued at $21,429,000 after buying an additional 1,770 shares during the period. Enterprise Financial Services Corp boosted its position in Accenture by 12.9% during the 2nd quarter. Enterprise Financial Services Corp now owns 2,752 shares of the information technology services provider’s stock valued at $340,000 after buying an additional 314 shares during the period. Finally, Foster & Motley Inc. boosted its position in Accenture by 6.5% during the 2nd quarter. Foster & Motley Inc. now owns 37,854 shares of the information technology services provider’s stock valued at $4,682,000 after buying an additional 2,323 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

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About Accenture

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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