Berenberg Bank began coverage on shares of Accenture PLC (NYSE:ACN) in a research report sent to investors on Thursday. The firm issued a buy rating and a $140.00 price target on the stock.

Several other brokerages also recently weighed in on ACN. Credit Suisse Group AG set a $124.00 price target on Accenture PLC and gave the stock a hold rating in a research report on Saturday, October 1st. BMO Capital Markets restated a market perform rating and set a $125.00 target price (up from $118.00) on shares of Accenture PLC in a research report on Sunday, October 2nd. Argus restated a buy rating and set a $138.00 target price (up from $128.00) on shares of Accenture PLC in a research report on Sunday, October 2nd. Jefferies Group raised their target price on Accenture PLC from $111.00 to $120.00 and gave the company a hold rating in a research report on Monday, October 3rd. Finally, Cantor Fitzgerald raised their target price on Accenture PLC from $132.00 to $139.00 and gave the company a buy rating in a research report on Monday, October 3rd. Ten equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $125.32.

Analyst Recommendations for Accenture PLC (NYSE:ACN)

Shares of Accenture PLC (NYSE:ACN) traded up 0.04% during midday trading on Thursday, reaching $118.16. The company’s stock had a trading volume of 834,257 shares. Accenture PLC has a 52 week low of $91.40 and a 52 week high of $124.96. The stock has a market capitalization of $73.56 billion, a PE ratio of 18.32 and a beta of 1.25. The company has a 50 day moving average price of $115.00 and a 200-day moving average price of $115.12.

Accenture PLC (NYSE:ACN) last announced its quarterly earnings results on Thursday, September 29th. The company reported $1.31 earnings per share for the quarter, topping 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%. Accenture PLC’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.15 earnings per share. On average, equities research analysts expect that Accenture PLC will post $5.93 EPS for the current year.

In other news, insider Richard P. Clark sold 876 shares of the stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $113.43, for a total value of $99,364.68. Following the sale, the insider now directly owns 16,396 shares in the company, valued at $1,859,798.28. The transaction was disclosed in a document filed 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 that occurred on Wednesday, July 20th. The shares were 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 $3,007,478.11. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Marathon Asset Management LLP raised its stake in Accenture PLC by 2.0% in the second quarter. Marathon Asset Management LLP now owns 527,157 shares of the company’s stock valued at $59,784,000 after buying an additional 10,094 shares in the last quarter. Bartlett & Co. LLC raised its stake in Accenture PLC by 0.7% in the second quarter. Bartlett & Co. LLC now owns 110,438 shares of the company’s stock valued at $12,512,000 after buying an additional 765 shares in the last quarter. Howard Capital Management raised its stake in Accenture PLC by 0.3% in the second quarter. Howard Capital Management now owns 109,623 shares of the company’s stock valued at $12,419,000 after buying an additional 317 shares in the last quarter. CIBC World Markets Inc. raised its stake in Accenture PLC by 43.6% in the second quarter. CIBC World Markets Inc. now owns 103,061 shares of the company’s stock valued at $11,676,000 after buying an additional 31,315 shares in the last quarter. Finally, Hermes Investment Management Ltd. raised its stake in Accenture PLC by 40.6% in the second quarter. Hermes Investment Management Ltd. now owns 274,458 shares of the company’s stock valued at $31,093,000 after buying an additional 79,221 shares in the last quarter. Institutional investors and hedge funds 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.

5 Day Chart for NYSE:ACN

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