Accenture Plc (NYSE:ACN) – Equities researchers at Cantor Fitzgerald issued their FY2019 earnings per share estimates for shares of Accenture in a research report issued on Monday. Cantor Fitzgerald analyst J. Foresi anticipates that the information technology services provider will post earnings per share of $7.22 for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $180.00 price objective on the stock.
Other analysts also recently issued research reports about the company. Deutsche Bank lifted their price target on Accenture to $165.00 in a research note on Monday, December 11th. Bank of America lifted their price target on Accenture from $150.00 to $171.00 in a research note on Friday, December 22nd. Stifel Nicolaus lifted their price target on Accenture from $138.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, September 7th. Zacks Investment Research raised Accenture from a “hold” rating to a “buy” rating and set a $151.00 price target on the stock in a research note on Thursday, September 14th. Finally, KeyCorp reissued a “buy” rating and issued a $135.00 price target on shares of Accenture in a research note on Friday, September 22nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $155.11.
Accenture (NYSE:ACN) last posted its earnings results on Thursday, December 21st. The information technology services provider reported $1.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.12. The firm had revenue of $9.52 billion for the quarter, compared to analyst estimates of $9.25 billion. Accenture had a return on equity of 41.79% and a net margin of 9.43%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.58 earnings per share.
In other news, insider Richard Lumb sold 2,200 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $138.94, for a total transaction of $305,668.00. Following the completion of the transaction, the insider now directly owns 117,151 shares in the company, valued at $16,276,959.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Pierre Nanterme sold 34,232 shares of the company’s stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $152.94, for a total transaction of $5,235,442.08. Following the transaction, the chief executive officer now owns 262,490 shares of the company’s stock, valued at $40,145,220.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,929 shares of company stock valued at $11,707,163. Company insiders own 0.21% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Summit Financial Group Inc. acquired a new stake in Accenture in the fourth quarter valued at $227,000. Atlantic Trust Group LLC increased its holdings in Accenture by 14.8% in the third quarter. Atlantic Trust Group LLC now owns 179,256 shares of the information technology services provider’s stock valued at $24,213,000 after purchasing an additional 23,141 shares during the period. Parametric Portfolio Associates LLC increased its holdings in Accenture by 9.4% in the third quarter. Parametric Portfolio Associates LLC now owns 1,466,760 shares of the information technology services provider’s stock valued at $198,115,000 after purchasing an additional 125,739 shares during the period. Chicago Partners Investment Group LLC boosted its position in Accenture by 1,074.2% during the third quarter. Chicago Partners Investment Group LLC now owns 11,084 shares of the information technology services provider’s stock valued at $1,497,000 after acquiring an additional 10,140 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Accenture during the third quarter valued at $1,560,000. Institutional investors and hedge funds own 72.42% of the company’s stock.
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.
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