Stifel Nicolaus set a $203.00 target price on Accenture (NYSE:ACN) in a report published on Thursday morning, TipRanks reports. The firm currently has a buy rating on the information technology services provider’s stock.
Several other research firms have also recently commented on ACN. JPMorgan Chase & Co. set a $216.00 price objective on Accenture and gave the company a buy rating in a research report on Friday. Credit Suisse Group set a $180.00 price objective on Accenture and gave the company a hold rating in a research report on Friday, June 28th. Argus increased their price objective on Accenture to $220.00 and gave the company a buy rating in a research report on Monday, July 15th. Citigroup increased their price objective on Accenture from $194.00 to $211.00 and gave the company a buy rating in a research report on Thursday, June 20th. Finally, Deutsche Bank increased their price objective on Accenture from $180.00 to $190.00 and gave the company a buy rating in a research report on Monday, June 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $203.10.
Shares of Accenture stock traded up $0.97 during trading on Thursday, hitting $192.35. 1,891,404 shares of the company’s stock traded hands, compared to its average volume of 1,899,385. Accenture has a 1 year low of $132.63 and a 1 year high of $202.80. The stock has a market capitalization of $129.10 billion, a P/E ratio of 26.13, a PEG ratio of 2.39 and a beta of 1.04. The business has a 50-day simple moving average of $194.31 and a 200-day simple moving average of $185.00.
Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $1.74 EPS for the quarter, beating the consensus estimate of $1.71 by $0.03. Accenture had a return on equity of 34.30% and a net margin of 11.06%. The company had revenue of $11.06 billion for the quarter, compared to analysts’ expectations of $11.07 billion. During the same period last year, the firm posted $1.58 earnings per share. Accenture’s revenue was up 5.3% compared to the same quarter last year. Research analysts expect that Accenture will post 7.78 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 17th will be given a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $3.20 annualized dividend and a yield of 1.66%. Accenture’s payout ratio is 39.67%.
In other news, CEO David Rowland sold 2,330 shares of Accenture stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $187.78, for a total transaction of $437,527.40. Following the transaction, the chief executive officer now directly owns 24,318 shares of the company’s stock, valued at approximately $4,566,434.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Johan Deblaere sold 3,000 shares of Accenture stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $194.02, for a total value of $582,060.00. Following the transaction, the chief operating officer now directly owns 68,204 shares in the company, valued at $13,232,940.08. The disclosure for this sale can be found here. Insiders sold 17,513 shares of company stock worth $3,375,582 over the last three months. Insiders own 0.18% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Lenox Wealth Advisors LLC lifted its position in shares of Accenture by 297.1% during the 2nd quarter. Lenox Wealth Advisors LLC now owns 135 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 101 shares in the last quarter. Next Capital Management LLC purchased a new position in shares of Accenture during the 2nd quarter valued at about $34,000. Weaver Consulting Group purchased a new position in shares of Accenture during the 1st quarter valued at about $39,000. Cerebellum GP LLC purchased a new position in shares of Accenture during the 2nd quarter valued at about $40,000. Finally, Lipe & Dalton bought a new stake in Accenture during the 2nd quarter valued at approximately $42,000. 69.84% of the stock is currently owned by hedge funds and other institutional investors.
Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.
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