Wedbush Reiterates Top Pick Rating for Accenture Plc (ACN)
Accenture Plc (NYSE:ACN)‘s stock had its “top pick” rating reaffirmed by Wedbush in a research report issued to clients and investors on Monday. They presently have a $135.00 target price on the stock. Wedbush’s target price suggests a potential upside of 8.53% from the stock’s current price.
Other analysts have also recently issued reports about the company. Credit Suisse Group AG set a $124.00 price objective on Accenture Plc and gave the company a “hold” rating in a research report on Sunday, December 25th. Cantor Fitzgerald set a $135.00 price objective on Accenture Plc and gave the company a “buy” rating in a research report on Sunday, December 25th. Zacks Investment Research upgraded Accenture Plc from a “sell” rating to a “hold” rating in a research report on Tuesday, March 14th. Vetr upgraded Accenture Plc from a “buy” rating to a “strong-buy” rating and set a $130.68 price objective on the stock in a research report on Wednesday, December 28th. Finally, Berenberg Bank restated a “buy” rating and set a $140.00 price objective on shares of Accenture Plc in a research report on Sunday, January 8th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. Accenture Plc has a consensus rating of “Buy” and a consensus target price of $126.71.
Shares of Accenture Plc (NYSE:ACN) traded down 0.66% during midday trading on Monday, hitting $124.39. 2,257,442 shares of the company were exchanged. Accenture Plc has a one year low of $107.14 and a one year high of $125.72. The firm has a market cap of $77.45 billion, a P/E ratio of 18.41 and a beta of 1.17. The company’s 50 day moving average price is $120.41 and its 200 day moving average price is $117.98.
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Accenture Plc (NYSE:ACN) last released its quarterly earnings data on Wednesday, December 21st. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.09. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.59 billion. Accenture Plc had a return on equity of 46.99% and a net margin of 12.34%. Accenture Plc’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.28 earnings per share. Equities analysts expect that Accenture Plc will post $5.87 EPS for the current year.
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In other news, insider Daniel T. London sold 4,437 shares of the company’s stock in a transaction on Friday, January 6th. The stock was sold at an average price of $115.87, for a total transaction of $514,115.19. Following the transaction, the insider now owns 30,580 shares of the company’s stock, valued at $3,543,304.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel T. London sold 5,549 shares of the company’s stock in a transaction on Friday, December 23rd. The shares were sold at an average price of $117.65, for a total value of $652,839.85. Following the transaction, the insider now directly owns 21,034 shares in the company, valued at approximately $2,474,650.10. The disclosure for this sale can be found here. Insiders have sold 19,386 shares of company stock worth $2,283,155 in the last ninety days. 0.21% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Accenture Plc during the fourth quarter valued at about $649,544,000. WFG Advisors LP raised its position in shares of Accenture Plc by 2,417.3% in the fourth quarter. WFG Advisors LP now owns 47,477 shares of the company’s stock valued at $1,664,000 after buying an additional 45,591 shares during the period. Almanack Investment Partners LLC. purchased a new position in shares of Accenture Plc during the fourth quarter valued at about $207,000. DSC Advisors L.P. purchased a new position in shares of Accenture Plc during the fourth quarter valued at about $538,000. Finally, Westwood Holdings Group Inc. raised its position in shares of Accenture Plc by 52.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 54,519 shares of the company’s stock valued at $6,386,000 after buying an additional 18,654 shares during the period. 77.38% of the stock is currently owned by institutional investors and hedge funds.
Accenture Plc Company Profile
Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.
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