Accenture PLC (ACN) PT Raised to $116.00 at Citigroup Inc.
Accenture PLC (NYSE:ACN) had its price objective lifted by equities researchers at Citigroup Inc. from $115.50 to $116.00 in a research report issued on Wednesday. The firm currently has a “neutral” rating on the stock. Citigroup Inc.’s price objective would suggest a potential downside of 4.64% from the stock’s previous close.
Several other brokerages also recently commented on ACN. Deutsche Bank AG reaffirmed a “buy” rating on shares of Accenture PLC in a research report on Sunday, June 26th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Accenture PLC in a research report on Sunday, June 26th. Cowen and Company upped their price objective on Accenture PLC from $118.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, May 31st. Susquehanna reaffirmed a “positive” rating and issued a $130.00 price objective on shares of Accenture PLC in a research report on Wednesday, June 22nd. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Accenture PLC in a research report on Thursday, June 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $121.07.
Accenture PLC (NYSE:ACN) opened at 121.64 on Wednesday. Accenture PLC has a one year low of $91.40 and a one year high of $124.96. The company has a market capitalization of $75.73 billion, a P/E ratio of 20.56 and a beta of 1.17. The stock’s 50 day moving average price is $113.60 and its 200 day moving average price is $114.45.
Accenture PLC (NYSE:ACN) last released its earnings results on Thursday, September 29th. The company reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.01. The firm had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.46 billion. Accenture PLC had a return on equity of 47.61% and a net margin of 11.24%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 EPS. Equities analysts anticipate that Accenture PLC will post $5.33 EPS for the current fiscal year.
In other news, General Counsel Chad T. Jerdee sold 4,000 shares of the stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $113.35, for a total value of $453,400.00. Following the transaction, the general counsel now directly owns 28,755 shares of the company’s stock, valued at $3,259,379.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel T. London sold 3,686 shares of the stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $115.57, for a total value of $425,991.02. Following the completion of the transaction, the insider now directly owns 26,023 shares in the company, valued at $3,007,478.11. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cribstone Capital Management LLC purchased a new position in shares of Accenture PLC during the second quarter worth $104,000. Exane Derivatives raised its position in shares of Accenture PLC by 92.0% in the second quarter. Exane Derivatives now owns 954 shares of the company’s stock worth $108,000 after buying an additional 457 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in shares of Accenture PLC by 1,091.0% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,060 shares of the company’s stock worth $120,000 after buying an additional 971 shares in the last quarter. Tanaka Capital Management Inc. raised its position in shares of Accenture PLC by 314.8% in the second quarter. Tanaka Capital Management Inc. now owns 1,120 shares of the company’s stock worth $127,000 after buying an additional 850 shares in the last quarter. Finally, City Holding Co. raised its position in shares of Accenture PLC by 8.4% in the second quarter. City Holding Co. now owns 1,221 shares of the company’s stock worth $138,000 after buying an additional 95 shares in the last quarter. 77.18% of the stock is currently owned by institutional investors and hedge funds.
About Accenture PLC
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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