Accenture PLC (NYSE:ACN) had its price target lifted by Morgan Stanley from $132.00 to $140.00 in a research report released on Friday morning. The brokerage currently has an equal weight rating on the information technology services provider’s stock.

A number of other research firms have also recently commented on ACN. Stifel Nicolaus boosted their target price on shares of Accenture PLC from $138.00 to $146.00 and gave the stock a buy rating in a research report on Thursday, September 7th. Zacks Investment Research raised shares of Accenture PLC from a hold rating to a buy rating and set a $151.00 target price on the stock in a research report on Thursday, September 14th. BidaskClub cut shares of Accenture PLC from a strong-buy rating to a buy rating in a research report on Friday, July 28th. KeyCorp reissued a buy rating and set a $135.00 target price on shares of Accenture PLC in a research report on Friday. Finally, Bank of America Corporation initiated coverage on shares of Accenture PLC in a research report on Tuesday, September 12th. They set a buy rating and a $150.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Accenture PLC presently has an average rating of Buy and an average price target of $135.07.

Shares of Accenture PLC (NYSE:ACN) traded up 0.91% during midday trading on Friday, hitting $137.90. 1,918,509 shares of the company’s stock were exchanged. The stock has a market cap of $85.22 billion, a PE ratio of 24.42 and a beta of 1.11. Accenture PLC has a 1-year low of $109.50 and a 1-year high of $138.00. The stock’s 50 day moving average is $130.89 and its 200-day moving average is $124.97.

Accenture PLC (NYSE:ACN) last posted its earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 EPS for the quarter, hitting analysts’ consensus estimates of $1.52. Accenture PLC had a net margin of 9.92% and a return on equity of 43.96%. The business had revenue of $8.87 billion for the quarter, compared to analysts’ expectations of $8.82 billion. During the same period in the previous year, the company posted $1.41 earnings per share. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts predict that Accenture PLC will post $5.90 earnings per share for the current fiscal year.

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In other news, COO Johan Deblaere sold 5,000 shares of the business’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $122.99, for a total transaction of $614,950.00. Following the completion of the transaction, the chief operating officer now owns 126,417 shares of the company’s stock, valued at $15,548,026.83. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Chad T. Jerdee sold 3,200 shares of the business’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $122.97, for a total transaction of $393,504.00. Following the transaction, the general counsel now directly owns 18,566 shares of the company’s stock, valued at approximately $2,283,061.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,817 shares of company stock valued at $9,920,929. Corporate insiders own 0.21% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Canada Pension Plan Investment Board lifted its holdings in Accenture PLC by 18.9% in the second quarter. Canada Pension Plan Investment Board now owns 473,257 shares of the information technology services provider’s stock worth $58,532,000 after purchasing an additional 75,100 shares during the period. Retirement Systems of Alabama lifted its holdings in Accenture PLC by 0.3% in the second quarter. Retirement Systems of Alabama now owns 340,128 shares of the information technology services provider’s stock worth $42,067,000 after purchasing an additional 916 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Accenture PLC by 4.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,087,814 shares of the information technology services provider’s stock worth $258,221,000 after purchasing an additional 97,760 shares during the period. Waldron LP lifted its holdings in Accenture PLC by 93.3% in the first quarter. Waldron LP now owns 5,709 shares of the information technology services provider’s stock worth $684,000 after purchasing an additional 2,756 shares during the period. Finally, Stratos Wealth Partners LTD. lifted its holdings in Accenture PLC by 2.3% in the second quarter. Stratos Wealth Partners LTD. now owns 35,664 shares of the information technology services provider’s stock worth $4,411,000 after purchasing an additional 795 shares during the period. 77.73% of the stock is owned by institutional investors.

About Accenture PLC

Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.

Analyst Recommendations for Accenture PLC (NYSE:ACN)

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