Accenture Plc (ACN) Receives Consensus Rating of “Buy” from Brokerages

Accenture Plc (NYSE:ACN) has been given an average recommendation of “Buy” by the twenty-seven research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $160.70.

Several brokerages recently weighed in on ACN. Pivotal Research set a $180.00 price target on shares of Accenture and gave the company a “buy” rating in a research report on Monday. Zacks Investment Research downgraded shares of Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, June 5th. Credit Suisse Group set a $151.00 price target on shares of Accenture and gave the company a “hold” rating in a research report on Thursday, April 26th. Cantor Fitzgerald reissued a “buy” rating and set a $180.00 price target on shares of Accenture in a research report on Wednesday, April 25th. Finally, ValuEngine raised shares of Accenture from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd.

In other news, insider Richard Lumb sold 2,000 shares of the business’s stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $156.10, for a total transaction of $312,200.00. Following the completion of the sale, the insider now owns 120,025 shares of the company’s stock, valued at approximately $18,735,902.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jean-Marc Ollagnier sold 1,637 shares of the business’s stock in a transaction on Monday, March 26th. The shares were sold at an average price of $150.87, for a total transaction of $246,974.19. Following the sale, the insider now directly owns 186,112 shares of the company’s stock, valued at approximately $28,078,717.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,828 shares of company stock valued at $8,145,630. Insiders own 0.21% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Capital Analysts LLC grew its position in shares of Accenture by 4.9% during the 4th quarter. Capital Analysts LLC now owns 7,937 shares of the information technology services provider’s stock valued at $1,215,000 after acquiring an additional 368 shares during the period. BDO Wealth Advisors LLC grew its position in shares of Accenture by 105.3% during the 1st quarter. BDO Wealth Advisors LLC now owns 739 shares of the information technology services provider’s stock valued at $113,000 after acquiring an additional 379 shares during the period. Altium Wealth Management LLC grew its position in shares of Accenture by 27.8% during the 1st quarter. Altium Wealth Management LLC now owns 1,757 shares of the information technology services provider’s stock valued at $270,000 after acquiring an additional 382 shares during the period. D.A. Davidson & CO. grew its position in shares of Accenture by 4.3% during the 4th quarter. D.A. Davidson & CO. now owns 9,219 shares of the information technology services provider’s stock valued at $1,411,000 after acquiring an additional 383 shares during the period. Finally, Peapack Gladstone Financial Corp grew its position in shares of Accenture by 8.5% during the 1st quarter. Peapack Gladstone Financial Corp now owns 4,932 shares of the information technology services provider’s stock valued at $757,000 after acquiring an additional 386 shares during the period. 73.81% of the stock is owned by hedge funds and other institutional investors.

Shares of Accenture traded down $0.26, hitting $162.76, during trading hours on Thursday, MarketBeat reports. 1,910,474 shares of the company’s stock traded hands, compared to its average volume of 2,203,994. The firm has a market capitalization of $103.39 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 2.43 and a beta of 1.03. Accenture has a 12-month low of $119.10 and a 12-month high of $165.58.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, March 22nd. The information technology services provider reported $1.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.09. The company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.31 billion. Accenture had a net margin of 9.18% and a return on equity of 41.50%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.33 earnings per share. analysts forecast that Accenture will post 6.69 earnings per share for the current year.

About Accenture

Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.

Analyst Recommendations for Accenture (NYSE:ACN)

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