Accenture PLC (ACN) Now Covered by Analysts at Bank of America Corporation

Bank of America Corporation began coverage on shares of Accenture PLC (NYSE:ACN) in a research report sent to investors on Tuesday morning. The firm issued a buy rating and a $150.00 target price on the information technology services provider’s stock.

Several other research analysts also recently commented on ACN. Berenberg Bank set a $140.00 price target on shares of Accenture PLC and gave the company a buy rating in a report on Saturday, June 24th. Zacks Investment Research raised shares of Accenture PLC from a hold rating to a buy rating and set a $145.00 price target for the company in a report on Wednesday, September 6th. Cowen and Company reissued a buy rating and issued a $135.00 price target on shares of Accenture PLC in a report on Friday, July 28th. BidaskClub downgraded shares of Accenture PLC from a strong-buy rating to a buy rating in a report on Friday, July 28th. Finally, Robert W. Baird reissued a neutral rating and issued a $138.00 price target (up from $132.00) on shares of Accenture PLC in a report on Wednesday, June 14th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Accenture PLC currently has an average rating of Buy and an average target price of $132.33.

Shares of Accenture PLC (ACN) opened at 135.86 on Tuesday. The company has a market capitalization of $83.96 billion, a PE ratio of 24.06 and a beta of 1.11. The firm’s 50-day moving average price is $129.66 and its 200 day moving average price is $124.43. Accenture PLC has a 1-year low of $108.83 and a 1-year high of $136.26.

Accenture PLC (NYSE:ACN) last announced its quarterly earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. Accenture PLC had a net margin of 9.92% and a return on equity of 43.96%. The firm had revenue of $8.87 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same period last year, the firm earned $1.41 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities analysts predict that Accenture PLC will post $5.90 EPS for the current fiscal year.

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In other Accenture PLC news, insider Gianfranco Casati sold 6,836 shares of the business’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $122.97, for a total value of $840,622.92. Following the transaction, the insider now owns 61,714 shares in the company, valued at $7,588,970.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard Lumb sold 2,200 shares of the business’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $127.51, for a total transaction of $280,522.00. Following the completion of the transaction, the insider now owns 119,942 shares in the company, valued at approximately $15,293,804.42. The disclosure for this sale can be found here. Insiders sold 79,817 shares of company stock worth $9,920,929 in the last 90 days. Corporate insiders own 0.21% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Waldron LP increased its position in shares of Accenture PLC by 93.3% in the first quarter. Waldron LP now owns 5,709 shares of the information technology services provider’s stock valued at $684,000 after acquiring an additional 2,756 shares during the period. William Blair Investment Management LLC increased its position in shares of Accenture PLC by 8.8% in the first quarter. William Blair Investment Management LLC now owns 641,952 shares of the information technology services provider’s stock valued at $76,957,000 after acquiring an additional 51,674 shares during the period. Novare Capital Management LLC increased its position in shares of Accenture PLC by 8.1% in the first quarter. Novare Capital Management LLC now owns 39,548 shares of the information technology services provider’s stock valued at $4,741,000 after acquiring an additional 2,950 shares during the period. British Columbia Investment Management Corp increased its position in shares of Accenture PLC by 9.0% in the first quarter. British Columbia Investment Management Corp now owns 606,894 shares of the information technology services provider’s stock valued at $72,754,000 after acquiring an additional 50,302 shares during the period. Finally, Vigilant Capital Management LLC increased its position in shares of Accenture PLC by 1.8% in the second quarter. Vigilant Capital Management LLC now owns 101,619 shares of the information technology services provider’s stock valued at $12,568,000 after acquiring an additional 1,780 shares during the period. Hedge funds and other institutional investors own 77.80% of the company’s stock.

About Accenture PLC

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 PLC (NYSE:ACN)

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