Accenture (NYSE:ACN) PT Raised to $400.00

Accenture (NYSE:ACN) had its price objective boosted by analysts at Morgan Stanley from $380.00 to $400.00 in a research report issued on Friday, The Fly reports. The brokerage presently has an “overweight” rating on the information technology services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 17.91% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets boosted their price target on Accenture from $302.00 to $330.00 and gave the company a “market perform” rating in a research note on Friday, June 25th. boosted their price target on Accenture from $310.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, June 25th. Susquehanna Bancshares boosted their price target on Accenture from $325.00 to $340.00 and gave the company a “positive” rating in a research note on Friday, June 25th. Royal Bank of Canada upped their target price on Accenture from $301.00 to $322.00 and gave the stock an “outperform” rating in a research report on Friday, June 25th. Finally, Societe Generale upped their target price on Accenture from $313.00 to $329.00 and gave the stock a “buy” rating in a research report on Tuesday, June 15th. Five equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $350.29.

NYSE:ACN opened at $339.23 on Friday. Accenture has a fifty-two week low of $210.42 and a fifty-two week high of $345.52. The stock’s 50-day moving average is $329.06 and its two-hundred day moving average is $301.13. The stock has a market cap of $215.29 billion, a PE ratio of 37.95, a price-to-earnings-growth ratio of 3.48 and a beta of 1.11.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Wednesday, September 22nd. The information technology services provider reported $2.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.19 by $0.01. The business had revenue of $13.42 billion during the quarter, compared to analysts’ expectations of $13.42 billion. Accenture had a return on equity of 28.94% and a net margin of 12.06%. The firm’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.70 EPS. Sell-side analysts forecast that Accenture will post 8.79 EPS for the current year.

In related news, General Counsel Joel Unruch sold 3,394 shares of the company’s stock in a transaction on Monday, June 28th. The stock was sold at an average price of $293.44, for a total value of $995,935.36. Following the completion of the transaction, the general counsel now directly owns 24,349 shares in the company, valued at $7,144,970.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ellyn Shook sold 2,600 shares of the stock in a transaction on Friday, July 23rd. The stock was sold at an average price of $317.47, for a total value of $825,422.00. Following the transaction, the insider now owns 19,420 shares of the company’s stock, valued at $6,165,267.40. The disclosure for this sale can be found here. Insiders sold 19,993 shares of company stock valued at $6,194,020 over the last 90 days. 0.07% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Moisand Fitzgerald Tamayo LLC acquired a new position in Accenture during the second quarter worth $25,000. Solstein Capital LLC bought a new stake in shares of Accenture during the first quarter worth $29,000. Hanson & Doremus Investment Management grew its holdings in shares of Accenture by 750.0% during the second quarter. Hanson & Doremus Investment Management now owns 136 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 120 shares during the last quarter. Trustcore Financial Services LLC grew its holdings in shares of Accenture by 456.0% during the second quarter. Trustcore Financial Services LLC now owns 139 shares of the information technology services provider’s stock worth $41,000 after purchasing an additional 114 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC bought a new stake in shares of Accenture during the second quarter worth $44,000. Hedge funds and other institutional investors own 73.20% of the company’s stock.

Accenture Company Profile

Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following segments: Communications, Media, and Technology; Financial Services; Health and Public Service; Products; Resources; and Other. The Communications, Media, and Technology segment serves communications, media, high-tech, and software and platform companies through acceleration and delivery of digital transformation, development of comprehensive and industry-specific solutions, and enhance efficiency and business results.

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