Evercore ISI Boosts Accenture PLC (ACN) Price Target to $162.00

Accenture PLC (NYSE:ACN) had its target price raised by stock analysts at Evercore ISI from $148.00 to $162.00 in a research report issued to clients and investors on Thursday. The firm currently has a “reduce” rating on the information technology services provider’s stock. Evercore ISI’s price target points to a potential upside of 12.30% from the stock’s current price.

A number of other equities research analysts have also recently commented on ACN. Cowen and Company reiterated a “buy” rating and issued a $135.00 price target on shares of Accenture PLC in a research note on Friday, July 28th. BidaskClub cut Accenture PLC from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research upgraded Accenture PLC from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research note on Monday, August 28th. Stifel Nicolaus raised their price objective on Accenture PLC from $138.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, September 7th. Finally, Bank of America Corporation began coverage on Accenture PLC in a research note on Tuesday, September 12th. They issued a “buy” rating and a $150.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $143.73.

Shares of Accenture PLC (ACN) opened at $144.26 on Thursday. Accenture PLC has a 12 month low of $112.31 and a 12 month high of $145.50. The company has a market capitalization of $95,667.52, a PE ratio of 24.53, a price-to-earnings-growth ratio of 2.15 and a beta of 1.08.

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

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In related news, CEO Pierre Nanterme sold 38,589 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $135.03, for a total transaction of $5,210,672.67. Following the completion of the transaction, the chief executive officer now directly owns 179,083 shares of the company’s stock, valued at approximately $24,181,577.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel T. London sold 637 shares of the business’s stock in a transaction on Friday, October 6th. The stock was sold at an average price of $136.03, for a total value of $86,651.11. 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. Company insiders own 0.21% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. acquired a new stake in shares of Accenture PLC in the 2nd quarter valued at about $533,000. Jacobi Capital Management LLC raised its stake in Accenture PLC 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 acquiring an additional 372 shares during the last quarter. TCI Wealth Advisors Inc. raised its stake in Accenture PLC 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 acquiring an additional 162 shares during the last quarter. Bellwether Investment Group LLC raised its stake in Accenture PLC by 64.2% during the 1st quarter. Bellwether Investment Group LLC now owns 918 shares of the information technology services provider’s stock valued at $110,000 after acquiring an additional 359 shares during the last quarter. Finally, Manchester Capital Management LLC raised its stake in Accenture PLC 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 acquiring an additional 60 shares during the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

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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