Accenture (ACN) Shares Gap Down to $172.97

Accenture Plc (NYSE:ACN) gapped down before the market opened on Thursday . The stock had previously closed at $177.01, but opened at $172.97. Accenture shares last traded at $170.05, with a volume of 3083300 shares changing hands.

A number of research firms have weighed in on ACN. Berenberg Bank raised Accenture to a “buy” rating and set a $190.00 price objective on the stock in a report on Thursday. UBS Group set a $180.00 target price on shares of Accenture and gave the company a “hold” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Accenture from a “sell” rating to a “hold” rating in a research note on Tuesday. Bank of America lifted their target price on shares of Accenture from $174.00 to $175.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Deutsche Bank lifted their target price on shares of Accenture from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, September 20th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $168.90.

The stock has a market capitalization of $116.60 billion, a price-to-earnings ratio of 28.86, a P/E/G ratio of 2.32 and a beta of 0.97.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, September 27th. The information technology services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.02. Accenture had a net margin of 9.76% and a return on equity of 42.01%. The firm had revenue of $10.15 billion during the quarter, compared to analysts’ expectations of $10.01 billion. During the same quarter in the previous year, the company posted $1.48 EPS. Accenture’s revenue was up 10.9% on a year-over-year basis. research analysts anticipate that Accenture Plc will post 6.71 earnings per share for the current year.

In other Accenture news, insider Ellyn Shook sold 4,375 shares of the company’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $168.02, for a total transaction of $735,087.50. Following the completion of the sale, the insider now owns 31,707 shares in the company, valued at approximately $5,327,410.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Pierre Nanterme sold 32,376 shares of the company’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $162.39, for a total transaction of $5,257,538.64. The disclosure for this sale can be found here. Insiders sold a total of 54,357 shares of company stock valued at $8,865,112 in the last 90 days. 0.21% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of ACN. Summit Trail Advisors LLC raised its position in shares of Accenture by 14,894.9% during the 1st quarter. Summit Trail Advisors LLC now owns 5,129,307 shares of the information technology services provider’s stock valued at $5,129,000 after acquiring an additional 5,095,100 shares during the last quarter. Charles Schwab Investment Advisory Inc. bought a new stake in shares of Accenture during the 2nd quarter valued at $270,434,000. BlackRock Inc. raised its position in shares of Accenture by 2.0% during the 2nd quarter. BlackRock Inc. now owns 43,175,666 shares of the information technology services provider’s stock valued at $7,063,106,000 after acquiring an additional 826,900 shares during the last quarter. Findlay Park Partners LLP raised its position in shares of Accenture by 18.3% during the 2nd quarter. Findlay Park Partners LLP now owns 3,384,829 shares of the information technology services provider’s stock valued at $553,724,000 after acquiring an additional 524,190 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Accenture by 13.6% during the 2nd quarter. Janus Henderson Group PLC now owns 3,887,804 shares of the information technology services provider’s stock valued at $636,010,000 after acquiring an additional 466,745 shares during the last quarter. Institutional investors own 70.18% of the company’s stock.

About Accenture (NYSE:ACN)

Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.

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