A number of research firms have changed their ratings and price targets for Accenture PLC (NYSE: ACN):
- 9/21/2016 – Accenture PLC had its “hold” rating reaffirmed by analysts at Morgan Stanley. They now have a $120.00 price target on the stock.
- 9/16/2016 – Accenture PLC had its “neutral” rating reaffirmed by analysts at Robert W. Baird. They now have a $125.00 price target on the stock.
- 9/14/2016 – Accenture PLC was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Accenture is one of world’s leading providers of management consultancy, technology and outsourcing services. Estimates have been stable ahead of this IT management solution provider’s 4Q16 earnings release. The company has a mixed record of earnings surprises in recent quarters. Although Accenture’s long-term prospect looks promising due to sustained focus on new and innovative product launches, continuous investments in enhancing digital and marketing capabilities as well as acquisitions, we are cautious about its near-term performance amid a strained IT spending scenario. Gartner predicts worldwide IT spending to remain flat year over year in 2016 at $3.41 trillion, due to currency fluctuations triggered by the Brexit episode. Moreover, stiff competition and an uncertain macroeconomic environment remain major concerns.”
- 9/8/2016 – Accenture PLC is now covered by analysts at Wedbush. They set an “outperform” rating and a $125.00 price target on the stock.
- 9/7/2016 – Accenture PLC had its “buy” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $132.00 price target on the stock.
- 8/7/2016 – Accenture PLC had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $118.00 price target on the stock.
Shares of Accenture PLC (NYSE:ACN) opened at 111.70 on Thursday. The firm has a 50 day moving average of $113.22 and a 200 day moving average of $114.00. Accenture PLC has a 52 week low of $91.40 and a 52 week high of $120.78. The firm has a market cap of $69.54 billion, a price-to-earnings ratio of 18.88 and a beta of 1.17.
Accenture PLC (NYSE:ACN) last announced its earnings results on Thursday, June 23rd. The company reported $1.41 EPS for the quarter, hitting the consensus estimate of $1.41. The firm had revenue of $8.43 billion for the quarter. Accenture PLC had a net margin of 11.24% and a return on equity of 47.61%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.30 EPS. Equities analysts predict that Accenture PLC will post $5.33 earnings per share for the current fiscal year.
In other news, insider Richard Lumb sold 1,250 shares of the business’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $109.88, for a total transaction of $137,350.00. Following the transaction, the insider now owns 129,013 shares in the company, valued at approximately $14,175,948.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO David Rowland sold 4,553 shares of the business’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $109.84, for a total transaction of $500,101.52. Following the transaction, the chief financial officer now owns 16,845 shares in the company, valued at approximately $1,850,254.80. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.
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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