Accenture PLC’s (ACN) “Hold” Rating Reaffirmed at Citigroup Inc.
Citigroup Inc. reissued their hold rating on shares of Accenture PLC (NYSE:ACN) in a research report sent to investors on Friday morning. Citigroup Inc. currently has a $120.00 price objective on the stock.
Several other brokerages also recently commented on ACN. Deutsche Bank AG reiterated a buy rating on shares of Accenture PLC in a report on Sunday, June 26th. Royal Bank Of Canada reiterated a buy rating on shares of Accenture PLC in a report on Sunday, June 26th. Susquehanna reiterated a positive rating and set a $130.00 price target on shares of Accenture PLC in a report on Wednesday, June 22nd. BMO Capital Markets reiterated a hold rating on shares of Accenture PLC in a report on Thursday, June 30th. Finally, Barclays PLC upped their price target on shares of Accenture PLC from $112.00 to $128.00 and gave the company an equal weight rating in a report on Friday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $123.45.
Accenture PLC (NYSE:ACN) opened at 122.17 on Friday. Accenture PLC has a 52 week low of $91.40 and a 52 week high of $124.96. The company has a market cap of $76.06 billion, a P/E ratio of 18.94 and a beta of 1.24. The firm’s 50 day moving average is $113.85 and its 200-day moving average is $114.57.
Accenture PLC (NYSE:ACN) last posted its earnings results on Thursday, September 29th. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.01. Accenture PLC had a net margin of 12.00% and a return on equity of 47.07%. The firm had revenue of $8.49 billion for the quarter. During the same quarter last year, the firm earned $1.15 earnings per share. The business’s quarterly revenue was up 7.6% on a year-over-year basis. On average, analysts predict that Accenture PLC will post $5.93 earnings per share for the current fiscal year.
In other news, General Counsel Chad T. Jerdee sold 4,000 shares of the stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $113.35, for a total value of $453,400.00. Following the sale, the general counsel now owns 28,755 shares in the company, valued at $3,259,379.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel T. London sold 3,686 shares of the stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $115.57, for a total transaction of $425,991.02. Following the completion of the sale, the insider now owns 26,023 shares in the company, valued at approximately $3,007,478.11. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its stake in 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 stake in Accenture PLC during the second quarter valued at approximately $223,849,000. Emerald Acquisition Ltd. purchased a new stake in Accenture PLC during the second quarter valued at approximately $175,381,000. Janus Capital Management LLC raised its stake in Accenture PLC by 59.8% in the second quarter. Janus Capital Management LLC now owns 3,670,692 shares of the company’s stock valued at $415,853,000 after buying an additional 1,373,714 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in Accenture PLC during the second quarter valued at approximately $116,516,000. Hedge funds and other institutional investors own 77.18% of the company’s stock.
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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