Accenture (NYSE:ACN) has been assigned a $208.00 price target by research analysts at KeyCorp in a note issued to investors on Thursday, TipRanks reports. The firm presently has a “buy” rating on the information technology services provider’s stock. KeyCorp’s target price would indicate a potential upside of 8.14% from the company’s previous close. KeyCorp also issued estimates for Accenture’s FY2020 earnings at $8.00 EPS.
ACN has been the topic of a number of other reports. Wells Fargo & Co upped their target price on Accenture from $200.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Redburn Partners initiated coverage on Accenture in a research note on Monday, September 23rd. They issued a “buy” rating and a $227.00 target price on the stock. Citigroup upped their target price on Accenture from $194.00 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. JPMorgan Chase & Co. set a $216.00 target price on Accenture and gave the stock a “buy” rating in a research note on Friday. Finally, Credit Suisse Group set a $180.00 target price on Accenture and gave the stock a “hold” rating in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Accenture currently has an average rating of “Buy” and an average price target of $203.10.
Shares of NYSE:ACN traded up $0.97 during midday trading on Thursday, reaching $192.35. 1,891,404 shares of the company traded hands, compared to its average volume of 1,899,385. Accenture has a 12 month low of $132.63 and a 12 month high of $202.80. The firm has a market capitalization of $129.10 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 2.39 and a beta of 1.04. The firm’s fifty day moving average price is $194.31 and its two-hundred day moving average price is $185.00.
Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, September 26th. The information technology services provider reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $11.07 billion. During the same period in the previous year, the company posted $1.58 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities analysts anticipate that Accenture will post 7.78 earnings per share for the current year.
In other news, insider Gianfranco Casati sold 5,000 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $194.00, for a total transaction of $970,000.00. Following the transaction, the insider now directly owns 36,713 shares in the company, valued at approximately $7,122,322. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Rowland sold 2,255 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $194.03, for a total value of $437,537.65. Following the transaction, the chief executive officer now owns 25,078 shares in the company, valued at $4,865,884.34. The disclosure for this sale can be found here. Insiders have sold a total of 17,513 shares of company stock worth $3,375,582 over the last quarter. Corporate insiders own 0.18% of the company’s stock.
Several institutional investors have recently made changes to their positions in ACN. Lenox Wealth Advisors LLC increased 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 purchasing an additional 101 shares during the last quarter. Next Capital Management LLC bought a new position in shares of Accenture during the 2nd quarter valued at about $34,000. Weaver Consulting Group bought a new position in shares of Accenture during the 1st quarter valued at about $39,000. Cerebellum GP LLC bought a new position in shares of Accenture during the 2nd quarter valued at about $40,000. Finally, Lipe & Dalton bought a new position in shares of Accenture during the 2nd quarter valued at about $42,000. Hedge funds and other institutional investors own 69.84% of the company’s stock.
Accenture Company Profile
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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