Credit Agricole SA Reaffirms Outperform Rating for Accenture PLC (ACN)
Accenture PLC (NYSE:ACN)‘s stock had its “outperform” rating restated by analysts at Credit Agricole SA in a report released on Friday. They presently have a $135.00 price objective on the stock, up from their prior price objective of $126.00. Credit Agricole SA’s price objective would suggest a potential upside of 10.50% from the company’s current price.
Other analysts also recently issued research reports about the company. Royal Bank Of Canada reissued a “buy” rating on shares of Accenture PLC in a research note on Sunday, June 26th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Accenture PLC in a research note on Sunday, June 26th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Accenture PLC in a research note on Monday, July 18th. Morgan Stanley reaffirmed a “hold” rating and issued a $120.00 price objective on shares of Accenture PLC in a research note on Wednesday, September 21st. Finally, Barclays PLC lifted their price objective on Accenture PLC from $112.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Accenture PLC currently has an average rating of “Buy” and an average price target of $123.02.
Shares of Accenture PLC (NYSE:ACN) traded up 0.44% during trading on Friday, hitting $122.17. The company had a trading volume of 4,815,794 shares. The stock’s 50-day moving average price is $113.85 and its 200 day moving average price is $114.57. The company has a market capitalization of $76.06 billion, a P/E ratio of 20.65 and a beta of 1.17. Accenture PLC has a 52 week low of $91.40 and a 52 week high of $124.96.
Accenture PLC (NYSE:ACN) last issued its earnings results on Thursday, September 29th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.01. The company had revenue of $8.49 billion for the quarter. Accenture PLC had a return on equity of 47.07% and a net margin of 12.00%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the business posted $1.15 EPS. On average, equities research analysts forecast that Accenture PLC will post $5.93 earnings per share for the current year.
In related news, insider Richard Lumb sold 1,250 shares of the company’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $113.12, for a total transaction of $141,400.00. Following the transaction, the insider now directly owns 125,647 shares of the company’s stock, valued at approximately $14,213,188.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel T. London sold 3,686 shares of the company’s 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 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. Corporate insiders own 0.17% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC raised its position in shares of Accenture PLC by 39.4% in the second quarter. FMR LLC now owns 12,730,924 shares of the company’s stock valued at $1,442,286,000 after buying an additional 3,595,128 shares in the last quarter. WCM Investment Management CA purchased a new position in shares of Accenture PLC during the second quarter worth $223,849,000. Emerald Acquisition Ltd. purchased a new position in shares of Accenture PLC during the second quarter worth $175,381,000. Janus Capital Management LLC raised its position in shares of Accenture PLC by 59.8% in the second quarter. Janus Capital Management LLC now owns 3,670,692 shares of the company’s stock worth $415,853,000 after buying an additional 1,373,714 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of Accenture PLC during the second quarter worth $116,516,000. 77.18% of the stock is currently owned by institutional investors.
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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