Accenture PLC (ACN) Rating Reiterated by Cantor Fitzgerald
Accenture PLC (NYSE:ACN)‘s stock had its “buy” rating reiterated by investment analysts at Cantor Fitzgerald in a note issued to investors on Tuesday. They currently have a $132.00 price objective on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 13.16% from the stock’s current price.
ACN has been the topic of several other research reports. Cowen and Company increased their target price on shares of Accenture PLC from $118.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, May 31st. Credit Suisse Group AG lowered shares of Accenture PLC from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $120.94 to $120.00 in a report on Friday, June 24th. Pacific Crest began coverage on shares of Accenture PLC in a report on Tuesday, July 12th. They set an “overweight” rating and a $129.00 target price on the stock. Deutsche Bank AG reaffirmed a “buy” rating on shares of Accenture PLC in a report on Sunday, June 26th. Finally, Bank of America Corp. reissued a “hold” rating on shares of Accenture PLC in a report on Monday, June 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $121.07.
Shares of Accenture PLC (NYSE:ACN) opened at 116.65 on Tuesday. The company has a market capitalization of $72.62 billion, a P/E ratio of 19.71 and a beta of 1.17. The stock’s 50 day moving average is $113.36 and its 200 day moving average is $114.40. Accenture PLC has a 52-week low of $91.40 and a 52-week high of $120.78.
In other news, insider Richard Lumb sold 1,250 shares of Accenture PLC stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $113.12, for a total value of $141,400.00. Following the completion of the sale, the insider now directly owns 125,647 shares in the company, valued at $14,213,188.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Chad T. Jerdee sold 4,000 shares of Accenture PLC stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $113.35, for a total transaction of $453,400.00. Following the completion of the sale, the general counsel now owns 28,755 shares of the company’s stock, valued at $3,259,379.25. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Carnick & Kubik Group LLC bought a new stake in shares of Accenture PLC during the second quarter worth approximately $346,000. Williams Jones & Associates LLC raised its stake in shares of Accenture PLC by 0.3% in the second quarter. Williams Jones & Associates LLC now owns 328,774 shares of the company’s stock worth $37,247,000 after buying an additional 1,059 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Accenture PLC during the second quarter worth approximately $2,853,000. Kentucky Retirement Systems bought a new stake in shares of Accenture PLC during the second quarter worth approximately $6,010,000. Finally, Mason Street Advisors LLC bought a new stake in shares of Accenture PLC during the second quarter worth approximately $9,519,000. Hedge funds and other institutional investors own 77.18% of the company’s stock.
Accenture PLC Company Profile
Accenture plc is engaged in providing management consulting, technology and outsourcing services. The Company’s business is structured around five operating groups, which together consists of 19 industry groups serving clients in industries globally. The Company’s segment includes Communications, Media & Technology, Financial Services, Health & Public Service, Products and Resources.
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