Accenture Plc (NYSE:ACN) – Research analysts at KeyCorp upped their Q1 2019 EPS estimates for Accenture in a research note issued to investors on Sunday, September 23rd. KeyCorp analyst A. Ramnani now anticipates that the information technology services provider will post earnings of $1.79 per share for the quarter, up from their prior forecast of $1.74.
ACN has been the topic of several other research reports. Zacks Investment Research upgraded Accenture from a “sell” rating to a “hold” rating in a report on Tuesday. Stifel Nicolaus raised their price target on Accenture from $170.00 to $179.00 and gave the company a “buy” rating in a report on Thursday, June 21st. Credit Suisse Group increased their target price on Accenture from $151.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, June 29th. BMO Capital Markets increased their target price on Accenture to $170.00 and gave the company a “market perform” rating in a research note on Friday, June 29th. Finally, Citigroup increased their target price on Accenture from $163.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday, September 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company’s stock. Accenture has a consensus rating of “Hold” and a consensus price target of $168.90.
Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, September 27th. The information technology services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.02. The business had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $10.01 billion. Accenture had a return on equity of 42.01% and a net margin of 9.76%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.48 earnings per share.
In other news, CFO David Rowland sold 1,559 shares of the firm’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $160.41, for a total transaction of $250,079.19. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Richard Lumb sold 2,000 shares of the firm’s stock in a transaction dated Friday, July 20th. The stock was sold at an average price of $166.66, for a total value of $333,320.00. Following the sale, the insider now directly owns 118,561 shares in the company, valued at approximately $19,759,376.26. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,357 shares of company stock worth $8,865,112. 0.21% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI raised its position in shares of Accenture by 17.0% during the second quarter. Zurich Insurance Group Ltd FI now owns 134,458 shares of the information technology services provider’s stock worth $21,996,000 after purchasing an additional 19,496 shares during the period. Janus Henderson Group PLC raised its position in shares of Accenture by 13.6% during the second quarter. Janus Henderson Group PLC now owns 3,887,804 shares of the information technology services provider’s stock worth $636,010,000 after purchasing an additional 466,745 shares during the period. Commonwealth Bank of Australia raised its position in shares of Accenture by 4.7% during the second quarter. Commonwealth Bank of Australia now owns 52,871 shares of the information technology services provider’s stock worth $8,644,000 after purchasing an additional 2,364 shares during the period. HM Payson & Co. grew its holdings in shares of Accenture by 2.5% during the second quarter. HM Payson & Co. now owns 235,334 shares of the information technology services provider’s stock worth $38,498,000 after buying an additional 5,679 shares in the last quarter. Finally, Financial Advocates Investment Management bought a new position in shares of Accenture during the first quarter worth about $357,000. 70.18% of the stock is currently owned by institutional investors.
Accenture Company Profile
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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