Accenture Plc (NYSE:ACN) – Investment analysts at Wedbush raised their Q4 2019 earnings per share estimates for shares of Accenture in a research note issued on Thursday. Wedbush analyst M. Katri now expects that the information technology services provider will earn $1.98 per share for the quarter, up from their prior estimate of $1.87.
A number of other analysts also recently commented on the company. Cowen reaffirmed a “buy” rating and set a $166.00 price target on shares of Accenture in a research report on Friday. Robert W. Baird reaffirmed a “hold” rating on shares of Accenture in a research report on Friday. Citigroup reaffirmed a “hold” rating and set a $159.00 price target on shares of Accenture in a research report on Friday. KeyCorp reaffirmed an “overweight” rating and set a $172.00 price target (up from $157.00) on shares of Accenture in a research report on Friday. Finally, Barclays increased their price target on Accenture from $135.00 to $152.00 and gave the company an “equal weight” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Accenture currently has an average rating of “Buy” and a consensus price target of $152.78.
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, beating the Zacks’ 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 for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter last year, the company earned $1.58 earnings per share. The company’s revenue for the quarter was up 11.8% on a year-over-year basis.
Hedge funds have recently modified their holdings of the business. Appleton Partners Inc. MA grew its holdings in shares of Accenture by 15.7% during the 2nd quarter. Appleton Partners Inc. MA now owns 33,579 shares of the information technology services provider’s stock worth $4,153,000 after acquiring an additional 4,557 shares during the period. Confluence Investment Management LLC purchased a new position in shares of Accenture during the 2nd quarter worth approximately $202,000. First Financial Bank Trust Division grew its holdings in shares of Accenture by 0.8% during the 2nd quarter. First Financial Bank Trust Division now owns 46,805 shares of the information technology services provider’s stock worth $5,789,000 after acquiring an additional 389 shares during the period. Pennsylvania Trust Co grew its holdings in shares of Accenture by 37.3% during the 2nd quarter. Pennsylvania Trust Co now owns 104,169 shares of the information technology services provider’s stock worth $12,884,000 after acquiring an additional 28,309 shares during the period. Finally, Vontobel Asset Management Inc. boosted its position in shares of Accenture by 2.4% in the 2nd quarter. Vontobel Asset Management Inc. now owns 850,224 shares of the information technology services provider’s stock worth $100,340,000 after purchasing an additional 20,309 shares in the last quarter. 72.39% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Daniel T. London sold 637 shares of Accenture stock in a transaction on Friday, October 6th. The stock was sold at an average price of $136.03, for a total transaction of $86,651.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Johan Deblaere sold 5,000 shares of Accenture stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $135.05, for a total value of $675,250.00. Following the sale, the chief operating officer now directly owns 120,817 shares of the company’s stock, valued at approximately $16,316,335.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 83,325 shares of company stock valued at $11,479,125. 0.21% of the stock is owned by company insiders.
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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