Accenture PLC (NYSE:ACN) Given Average Rating of “Moderate Buy” by Brokerages

Accenture PLC (NYSE:ACNGet Free Report) has earned a consensus recommendation of “Moderate Buy” from the twenty-seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $242.4074.

Several analysts recently weighed in on the stock. UBS Group reaffirmed a “buy” rating on shares of Accenture in a report on Tuesday. HSBC reduced their target price on shares of Accenture from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Tuesday, April 14th. Guggenheim reduced their target price on shares of Accenture from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, June 11th. Wolfe Research reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Accenture in a report on Tuesday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Accenture in a report on Tuesday, June 9th.

Read Our Latest Stock Analysis on Accenture

Accenture News Summary

Here are the key news stories impacting Accenture this week:

Accenture Stock Down 5.6%

Shares of ACN opened at $156.21 on Thursday. The company’s 50-day simple moving average is $179.51 and its 200-day simple moving average is $219.86. The stock has a market capitalization of $103.95 billion, a PE ratio of 12.79, a P/E/G ratio of 1.57 and a beta of 1.08. Accenture has a 1 year low of $155.82 and a 1 year high of $314.20. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.34.

Accenture (NYSE:ACNGet Free Report) last issued its earnings results on Friday, March 20th. The information technology services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. The firm had revenue of $18.04 billion for the quarter, compared to analysts’ expectations of $17.80 billion. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.82 earnings per share. Analysts forecast that Accenture will post 13.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $177.14, for a total transaction of $863,026.08. Following the sale, the chief executive officer owned 12,802 shares of the company’s stock, valued at approximately $2,267,746.28. This trade represents a 27.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.02% of the company’s stock.

Institutional Trading of Accenture

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACN. Brighton Jones LLC raised its holdings in Accenture by 36.2% during the fourth quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider’s stock worth $6,486,000 after purchasing an additional 4,905 shares in the last quarter. Sivia Capital Partners LLC grew its position in shares of Accenture by 46.9% during the second quarter. Sivia Capital Partners LLC now owns 2,066 shares of the information technology services provider’s stock worth $618,000 after acquiring an additional 660 shares during the last quarter. United Bank grew its position in shares of Accenture by 49.8% during the second quarter. United Bank now owns 3,639 shares of the information technology services provider’s stock worth $1,088,000 after acquiring an additional 1,209 shares during the last quarter. Bank of Nova Scotia grew its position in shares of Accenture by 23.0% during the second quarter. Bank of Nova Scotia now owns 828 shares of the information technology services provider’s stock worth $247,000 after acquiring an additional 155 shares during the last quarter. Finally, Main Street Financial Solutions LLC grew its position in shares of Accenture by 4.2% during the second quarter. Main Street Financial Solutions LLC now owns 1,767 shares of the information technology services provider’s stock worth $528,000 after acquiring an additional 72 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

About Accenture

(Get Free Report)

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.

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