Shares of Accenture PLC (NYSE:ACN) reached a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $124.96 and last traded at $121.94, with a volume of 5,200,644 shares. The stock had previously closed at $116.65.
The company reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.01. The company earned $8.49 billion during the quarter. Accenture PLC had a return on equity of 47.61% and a net margin of 11.24%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.15 earnings per share.
ACN has been the subject of several research analyst reports. Cantor Fitzgerald restated a “buy” rating and set a $126.00 price target on shares of Accenture PLC in a research note on Monday, June 20th. Bank of America Corp. reiterated a “hold” rating on shares of Accenture PLC in a research note on Monday, June 20th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $112.00 target price (up previously from $104.00) on shares of Accenture PLC in a research note on Wednesday, June 22nd. Susquehanna reiterated a “positive” rating and issued a $130.00 target price on shares of Accenture PLC in a research note on Wednesday, June 22nd. Finally, Royal Bank Of Canada increased their target price on Accenture PLC from $121.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, June 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $121.07.
In other news, General Counsel Chad T. Jerdee sold 4,000 shares of Accenture PLC stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $113.35, for a total transaction of $453,400.00. Following the transaction, the general counsel now directly owns 28,755 shares in the company, valued at approximately $3,259,379.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel T. London sold 3,686 shares of Accenture PLC stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $115.57, for a total value of $425,991.02. Following the transaction, 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. Insiders own 0.17% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Cribstone Capital Management LLC purchased a new position in shares of Accenture PLC during the second quarter valued at about $104,000. Exane Derivatives boosted its position in shares of Accenture PLC by 92.0% in the second quarter. Exane Derivatives now owns 954 shares of the company’s stock valued at $108,000 after buying an additional 457 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in shares of Accenture PLC by 1,091.0% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,060 shares of the company’s stock valued at $120,000 after buying an additional 971 shares during the period. Tanaka Capital Management Inc. boosted its position in shares of Accenture PLC by 314.8% in the second quarter. Tanaka Capital Management Inc. now owns 1,120 shares of the company’s stock valued at $127,000 after buying an additional 850 shares during the period. Finally, City Holding Co. boosted its position in shares of Accenture PLC by 8.4% in the second quarter. City Holding Co. now owns 1,221 shares of the company’s stock valued at $138,000 after buying an additional 95 shares during the period. Institutional investors own 77.18% of the company’s stock.
The stock has a market cap of $75.88 billion, a P/E ratio of 20.60 and a beta of 1.17. The stock’s 50-day moving average is $113.36 and its 200 day moving average is $114.40.
Accenture PLC Company Profile
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.
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