Accenture PLC (ACN) Price Target Increased to $150.00 by Analysts at Wells Fargo & Company
Accenture PLC (NYSE:ACN) had its price target lifted by Wells Fargo & Company from $147.00 to $150.00 in a research note published on Friday. The firm currently has an outperform rating on the information technology services provider’s stock.
A number of other equities research analysts have also recently weighed in on the stock. Cantor Fitzgerald lifted their price objective on shares of Accenture PLC to $151.00 and gave the company an overweight rating in a research note on Friday. Royal Bank Of Canada lifted their price objective on shares of Accenture PLC from $145.00 to $148.00 and gave the company an outperform rating in a research note on Friday. BMO Capital Markets restated a hold rating on shares of Accenture PLC in a research note on Thursday. Robert W. Baird lifted their price objective on shares of Accenture PLC from $148.00 to $150.00 and gave the company a neutral rating in a research note on Thursday. Finally, Societe Generale cut shares of Accenture PLC from a buy rating to a hold rating and set a $144.00 price objective on the stock. in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $138.41.
Shares of Accenture PLC (NYSE ACN) traded down 0.92% during trading on Friday, reaching $135.07. 3,311,992 shares of the company’s stock were exchanged. The company’s 50-day moving average is $130.89 and its 200 day moving average is $124.97. The stock has a market capitalization of $83.41 billion, a PE ratio of 24.83 and a beta of 1.11. Accenture PLC has a 52 week low of $109.50 and a 52 week high of $138.15. Accenture PLC also was the target of some unusual options trading activity on Wednesday. Stock investors acquired 8,998 put options on the company. This represents an increase of 570% compared to the average volume of 1,342 put options.
Accenture PLC (NYSE:ACN) last issued its quarterly earnings data on Thursday, September 28th. The information technology services provider reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.01. Accenture PLC had a net margin of 9.37% and a return on equity of 42.65%. The business had revenue of $9.15 billion for the quarter, compared to analysts’ expectations of $9.01 billion. During the same period in the previous year, the business earned $1.31 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. On average, analysts forecast that Accenture PLC will post $6.54 earnings per share for the current year.
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The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Thursday, October 19th will be given a dividend of $1.33 per share. The ex-dividend date of this dividend is Wednesday, October 18th. This represents a yield of 1.97%. Accenture PLC’s payout ratio is 44.49%.
In other Accenture PLC news, insider Julie Spellman Sweet sold 1,974 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $128.68, for a total transaction of $254,014.32. Following the sale, the insider now owns 14,082 shares in the company, valued at $1,812,071.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard Lumb sold 2,200 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $127.51, for a total value of $280,522.00. Following the sale, the insider now owns 119,942 shares in the company, valued at approximately $15,293,804.42. The disclosure for this sale can be found here. Insiders have sold 20,582 shares of company stock worth $2,634,573 in the last 90 days. Company insiders own 0.21% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Accenture PLC by 2.3% during the second quarter. Vanguard Group Inc. now owns 48,468,073 shares of the information technology services provider’s stock valued at $5,994,531,000 after buying an additional 1,088,676 shares during the last quarter. BlackRock Inc. grew its stake in shares of Accenture PLC by 3.0% during the second quarter. BlackRock Inc. now owns 40,659,545 shares of the information technology services provider’s stock valued at $5,028,772,000 after buying an additional 1,196,578 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Accenture PLC by 2.2% during the second quarter. Capital Research Global Investors now owns 28,501,643 shares of the information technology services provider’s stock valued at $3,525,083,000 after buying an additional 605,156 shares during the last quarter. State Street Corp grew its stake in shares of Accenture PLC by 2.7% during the first quarter. State Street Corp now owns 25,356,641 shares of the information technology services provider’s stock valued at $3,039,762,000 after buying an additional 665,860 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Accenture PLC by 8.8% during the first quarter. Wellington Management Group LLP now owns 21,583,126 shares of the information technology services provider’s stock valued at $2,587,385,000 after buying an additional 1,738,262 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.
Accenture PLC Company Profile
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.
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