Morgan Stanley Reiterates Hold Rating for Accenture PLC (ACN)
Accenture PLC (NYSE:ACN)‘s stock had its “hold” rating reiterated by equities researchers at Morgan Stanley in a research note issued on Wednesday. They currently have a $120.00 price objective on the stock. Morgan Stanley’s target price points to a potential upside of 8.40% from the company’s current price.
ACN has been the topic of a number of other research reports. Zacks Investment Research cut shares of Accenture PLC from a “hold” rating to a “sell” rating in a research note on Wednesday, September 14th. Wedbush initiated coverage on shares of Accenture PLC in a research note on Thursday, September 8th. They issued an “outperform” rating and a $125.00 target price on the stock. Robert W. Baird reissued a “neutral” rating and issued a $125.00 target price on shares of Accenture PLC in a research note on Friday, September 16th. Cantor Fitzgerald reissued a “buy” rating and issued a $132.00 target price on shares of Accenture PLC in a research note on Wednesday, September 7th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Accenture PLC in a research note on Tuesday, July 19th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $120.92.
Accenture PLC (NYSE:ACN) traded up 0.47% on Wednesday, hitting $111.22. 567,250 shares of the company were exchanged. Accenture PLC has a one year low of $91.40 and a one year high of $120.78. The firm has a market cap of $69.24 billion, a price-to-earnings ratio of 18.80 and a beta of 1.17. The stock has a 50 day moving average price of $113.25 and a 200 day moving average price of $114.02.
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Accenture PLC (NYSE:ACN) last posted its earnings results on Thursday, June 23rd. The company reported $1.41 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.41. The business 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 period in the previous year, the firm earned $1.30 EPS. On average, equities research analysts forecast that Accenture PLC will post $5.33 EPS for the current fiscal year.
In other news, CFO David Rowland sold 4,553 shares of the stock in a transaction on Monday, June 27th. The shares were sold at an average price of $109.84, for a total transaction of $500,101.52. Following the completion of the sale, the chief financial officer now owns 16,845 shares of the company’s stock, valued at $1,850,254.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Johan Deblaere sold 5,000 shares of the stock in a transaction on Monday, June 27th. The stock was sold at an average price of $109.88, for a total transaction of $549,400.00. Following the sale, the chief operating officer now directly owns 134,650 shares of the company’s stock, valued at approximately $14,795,342. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. Carnick & Kubik Group LLC bought a new stake in shares of Accenture PLC during the second quarter valued at about $346,000. Williams Jones & Associates LLC increased its stake in shares of Accenture PLC by 0.3% in the second quarter. Williams Jones & Associates LLC now owns 328,774 shares of the company’s stock valued at $37,247,000 after buying an additional 1,059 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Accenture PLC during the second quarter valued at about $2,853,000. Kentucky Retirement Systems bought a new stake in shares of Accenture PLC during the second quarter valued at about $6,010,000. Finally, Mason Street Advisors LLC bought a new stake in shares of Accenture PLC during the second quarter valued at about $9,519,000. 77.18% of the stock is owned by institutional investors.
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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