Accenture (NYSE:ACN) had its price objective raised by analysts at Barclays from $135.00 to $152.00 in a report released on Friday. The brokerage presently has an “equal weight” rating on the information technology services provider’s stock. Barclays’ target price would indicate a potential downside of 1.43% from the stock’s current price.
A number of other research firms have also recently commented on ACN. SunTrust Banks reissued a “hold” rating and issued a $164.00 target price on shares of Accenture in a report on Thursday. Bank of America increased their target price on shares of Accenture from $150.00 to $171.00 in a report on Friday. Pivotal Research increased their target price on shares of Accenture from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Friday. Cantor Fitzgerald reissued an “overweight” rating and issued a $180.00 target price (up previously from $151.00) on shares of Accenture in a report on Friday. Finally, Cowen reissued a “buy” rating and issued a $165.00 target price on shares of Accenture in a report on Thursday, December 14th. Two research 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 company’s stock. Accenture currently has a consensus rating of “Buy” and a consensus target price of $152.46.
Shares of Accenture (ACN) traded up $2.45 during trading on Friday, reaching $154.20. 4,563,500 shares of the company’s stock were exchanged, compared to its average volume of 2,129,348. The firm has a market capitalization of $100,148.63, a P/E ratio of 25.68, a price-to-earnings-growth ratio of 2.24 and a beta of 1.08. Accenture has a 12-month low of $112.31 and a 12-month high of $158.44.
In related news, CEO Pierre Nanterme sold 38,589 shares of the firm’s stock in a transaction that occurred on 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Gianfranco Casati sold 20,380 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $142.72, for a total transaction of $2,908,633.60. Following the completion of the transaction, the insider now owns 51,014 shares of the company’s stock, valued at approximately $7,280,718.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,325 shares of company stock valued at $11,479,125. 0.21% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Jacobi Capital Management LLC increased its position in Accenture by 104.8% during the 3rd quarter. Jacobi Capital Management LLC now owns 727 shares of the information technology services provider’s stock valued at $100,000 after purchasing an additional 372 shares during the period. TCI Wealth Advisors Inc. increased its position in Accenture by 23.4% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 854 shares of the information technology services provider’s stock valued at $106,000 after purchasing an additional 162 shares during the period. Manchester Capital Management LLC increased its position in Accenture by 7.0% during the 2nd quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock valued at $114,000 after purchasing an additional 60 shares during the period. Parkside Financial Bank & Trust increased its position in Accenture by 5.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,030 shares of the information technology services provider’s stock valued at $127,000 after purchasing an additional 52 shares during the period. Finally, Captrust Financial Advisors acquired a new stake in Accenture during the 2nd quarter valued at approximately $129,000. 72.39% of the stock is owned by institutional investors and hedge funds.
About Accenture
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.
