Accenture PLC (ACN) Coverage Initiated by Analysts at Berenberg Bank
Equities researchers at Berenberg Bank assumed coverage on shares of Accenture PLC (NYSE:ACN) in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage set a “buy” rating on the stock.
ACN has been the subject of several other reports. Zacks Investment Research raised Accenture PLC from a “hold” rating to a “buy” rating and set a $135.00 price target for the company in a report on Tuesday, October 4th. Pacific Crest raised their price target on Accenture PLC from $129.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, October 3rd. Jefferies Group raised their price target on Accenture PLC from $111.00 to $120.00 and gave the company a “hold” rating in a report on Monday, October 3rd. Cantor Fitzgerald raised their price target on Accenture PLC from $132.00 to $139.00 and gave the company a “buy” rating in a report on Monday, October 3rd. Finally, Credit Suisse Group AG set a $124.00 price target on Accenture PLC and gave the company a “hold” rating in a report on Saturday, October 1st. Ten equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Accenture PLC presently has a consensus rating of “Buy” and an average price target of $124.75.
Shares of Accenture PLC (NYSE:ACN) opened at 117.62 on Thursday. Accenture PLC has a one year low of $91.40 and a one year high of $124.96. The stock has a market capitalization of $73.22 billion, a PE ratio of 18.24 and a beta of 1.25. The firm has a 50-day moving average price of $114.90 and a 200 day moving average price of $115.10.
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Accenture PLC (NYSE:ACN) last announced its earnings results on Thursday, September 29th. The company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.01. Accenture PLC had a return on equity of 47.07% and a net margin of 12.00%. The company had revenue of $8.49 billion for the quarter. During the same quarter last year, the business posted $1.15 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities analysts expect that Accenture PLC will post $5.93 EPS for the current fiscal year.
In other news, insider Daniel T. London sold 3,686 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $115.57, for a total transaction of $425,991.02. Following the completion of the transaction, the insider now directly owns 26,023 shares of the company’s stock, valued at $3,007,478.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard P. Clark sold 876 shares of the company’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $113.43, for a total value of $99,364.68. Following the transaction, the insider now directly owns 16,396 shares of the company’s stock, valued at $1,859,798.28. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Uniplan Investment Counsel Inc. bought a new position in Accenture PLC during the first quarter valued at approximately $21,544,000. Pacific Global Investment Management CO acquired a new position in shares of Accenture PLC during the first quarter worth about $284,000. Quadrature Capital Ltd acquired a new position in shares of Accenture PLC during the first quarter worth about $21,019,000. UBS Asset Management Americas Inc. raised its position in shares of Accenture PLC by 10.2% in the first quarter. UBS Asset Management Americas Inc. now owns 3,570,115 shares of the company’s stock worth $411,991,000 after buying an additional 329,656 shares during the period. Finally, Scotia Capital Inc. raised its position in shares of Accenture PLC by 29.3% in the first quarter. Scotia Capital Inc. now owns 26,296 shares of the company’s stock worth $3,035,000 after buying an additional 5,956 shares during the period. 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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