Accenture (ACN) Earns “Buy” Rating from Cowen

Accenture (NYSE:ACN)‘s stock had its “buy” rating restated by stock analysts at Cowen in a research note issued to investors on Thursday. They presently have a $165.00 price target on the information technology services provider’s stock. Cowen’s price objective would suggest a potential upside of 9.12% from the stock’s current price.

A number of other analysts have also issued reports on ACN. Zacks Investment Research upgraded shares of Accenture from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a research note on Monday, August 28th. Stifel Nicolaus boosted their target price on shares of Accenture from $138.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, September 7th. Bank of America started coverage on shares of Accenture in a research note on Tuesday, September 12th. They set a “buy” rating and a $150.00 target price for the company. Berenberg Bank reiterated a “buy” rating and set a $160.00 target price on shares of Accenture in a research note on Thursday, September 21st. Finally, KeyCorp reiterated a “buy” rating and set a $135.00 target price on shares of Accenture in a research note on Friday, September 22nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $146.42.

Accenture (NYSE ACN) traded down $0.21 on Thursday, hitting $151.21. 1,611,811 shares of the stock were exchanged, compared to its average volume of 2,108,755. The stock has a market capitalization of $97,070.00, a price-to-earnings ratio of 25.74, a P/E/G ratio of 2.25 and a beta of 1.08. Accenture has a 12 month low of $112.31 and a 12 month high of $152.80.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, September 28th. The information technology services provider reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.01. The company had revenue of $9.15 billion for the quarter, compared to analyst estimates of $9.01 billion. Accenture had a net margin of 9.37% and a return on equity of 42.65%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.31 earnings per share. equities analysts expect that Accenture will post 6.54 earnings per share for the current year.

In other news, insider Gianfranco Casati sold 20,380 shares of the company’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $142.72, for a total value of $2,908,633.60. Following the transaction, the insider now owns 51,014 shares in the company, valued at approximately $7,280,718.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Pierre Nanterme sold 38,589 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $135.03, for a total value of $5,210,672.67. Following the completion of the transaction, the chief executive officer now owns 179,083 shares in the company, valued at approximately $24,181,577.49. The disclosure for this sale can be found here. Insiders sold a total of 83,325 shares of company stock worth $11,479,125 in the last quarter. 0.21% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in ACN. Vanguard Group Inc. boosted its position in shares of Accenture by 2.3% in the second quarter. Vanguard Group Inc. now owns 48,468,073 shares of the information technology services provider’s stock valued at $5,994,531,000 after acquiring an additional 1,088,676 shares during the period. BlackRock Inc. boosted its position in shares of Accenture by 3.0% in the second quarter. BlackRock Inc. now owns 40,659,545 shares of the information technology services provider’s stock valued at $5,028,772,000 after acquiring an additional 1,196,578 shares during the period. Capital Research Global Investors boosted its position in shares of Accenture by 2.2% in the second quarter. Capital Research Global Investors now owns 28,501,643 shares of the information technology services provider’s stock valued at $3,525,083,000 after acquiring an additional 605,156 shares during the period. Northern Trust Corp boosted its position in shares of Accenture by 0.8% in the second quarter. Northern Trust Corp now owns 9,476,570 shares of the information technology services provider’s stock valued at $1,172,063,000 after acquiring an additional 70,740 shares during the period. Finally, Independent Franchise Partners LLP boosted its position in shares of Accenture by 3.7% in the third quarter. Independent Franchise Partners LLP now owns 6,293,362 shares of the information technology services provider’s stock valued at $850,044,000 after acquiring an additional 222,828 shares during the period. 72.51% of the stock is owned by institutional investors and hedge funds.

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Accenture 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.

Analyst Recommendations for Accenture (NYSE:ACN)

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