Accenture (ACN) Price Target Increased to $180.00 by Analysts at Pivotal Research

Accenture (NYSE:ACN) had its price objective hoisted by Pivotal Research from $165.00 to $180.00 in a research report report published on Friday morning. They currently have a buy rating on the information technology services provider’s stock.

A number of other brokerages also recently commented on ACN. Bank of America upped their target price on Accenture from $150.00 to $171.00 in a report on Friday. SunTrust Banks restated a hold rating and set a $164.00 target price on shares of Accenture in a report on Thursday. Cowen restated a buy rating and set a $165.00 target price on shares of Accenture in a report on Thursday, December 14th. Deutsche Bank upped their target price on Accenture to $165.00 in a report on Monday, December 11th. Finally, Robert W. Baird reiterated a hold rating and issued a $155.00 price objective on shares of Accenture in a report on Thursday, December 7th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $152.74.

Shares of Accenture (NYSE ACN) traded down $0.31 during midday trading on Friday, hitting $153.89. The stock had a trading volume of 1,764,607 shares, compared to its average volume of 1,950,000. Accenture has a 52 week low of $112.31 and a 52 week high of $158.44. The stock has a market capitalization of $98,460.00, a price-to-earnings ratio of 27.29, a price-to-earnings-growth ratio of 2.27 and a beta of 1.08.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, December 21st. The information technology services provider reported $1.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.12. Accenture had a return on equity of 41.79% and a net margin of 9.43%. The company had revenue of $9.52 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the firm earned $1.58 earnings per share. Accenture’s revenue was up 11.8% on a year-over-year basis. sell-side analysts predict that Accenture will post 6.58 EPS for the current fiscal year.

In other news, insider Richard Lumb sold 2,200 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $135.06, for a total value of $297,132.00. Following the transaction, the insider now owns 118,085 shares of the company’s stock, valued at $15,948,560.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard P. Clark sold 3,155 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $143.01, for a total value of $451,196.55. Following the completion of the transaction, the insider now directly owns 5,533 shares in the company, valued at approximately $791,274.33. The disclosure for this sale can be found here. In the last three months, insiders sold 83,325 shares of company stock worth $11,479,125. 0.21% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of ACN. First American Bank grew its holdings in Accenture by 0.5% during the 2nd quarter. First American Bank now owns 58,675 shares of the information technology services provider’s stock valued at $7,257,000 after buying an additional 304 shares in the last quarter. Perkins Coie Trust Co grew its holdings in Accenture by 5.0% during the 2nd quarter. Perkins Coie Trust Co now owns 14,367 shares of the information technology services provider’s stock valued at $1,777,000 after buying an additional 684 shares in the last quarter. Dynamic Advisors Solutions LLC grew its holdings in Accenture by 0.6% during the 2nd quarter. Dynamic Advisors Solutions LLC now owns 10,287 shares of the information technology services provider’s stock valued at $1,272,000 after buying an additional 65 shares in the last quarter. Atria Investments LLC grew its holdings in Accenture by 3.2% during the 2nd quarter. Atria Investments LLC now owns 18,978 shares of the information technology services provider’s stock valued at $2,347,000 after buying an additional 583 shares in the last quarter. Finally, Gillespie Robinson & Grimm Inc. grew its holdings in Accenture by 1.1% during the 2nd quarter. Gillespie Robinson & Grimm Inc. now owns 178,158 shares of the information technology services provider’s stock valued at $22,035,000 after buying an additional 1,931 shares in the last quarter. 72.39% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Accenture (NYSE:ACN)

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