Accenture Plc (NYSE:ACN) – Investment analysts at William Blair boosted their Q2 2018 earnings estimates for shares of Accenture in a research report issued to clients and investors on Thursday. William Blair analyst A. Doradla now expects that the information technology services provider will post earnings of $1.53 per share for the quarter, up from their prior estimate of $1.44. William Blair also issued estimates for Accenture’s Q3 2018 earnings at $1.69 EPS, Q4 2018 earnings at $1.66 EPS, FY2018 earnings at $6.66 EPS, Q1 2019 earnings at $1.87 EPS, Q2 2019 earnings at $1.72 EPS, Q3 2019 earnings at $1.84 EPS, Q4 2019 earnings at $1.88 EPS and FY2019 earnings at $7.30 EPS.
A number of other equities analysts have also recently weighed in on ACN. KeyCorp reaffirmed an “overweight” rating and set a $172.00 price target (up from $157.00) on shares of Accenture in a research note on Friday. Bank of America upped their price target on shares of Accenture from $150.00 to $171.00 in a research note on Friday. Cantor Fitzgerald reaffirmed a “buy” rating and set a $135.00 price target on shares of Accenture in a research note on Thursday, September 28th. BMO Capital Markets upped their price target on shares of Accenture from $130.00 to $140.00 and gave the stock a “market perform” rating in a research note on Friday, September 29th. Finally, Citigroup reaffirmed a “hold” rating and set a $159.00 price target on shares of Accenture in a research note on Friday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Accenture presently has an average rating of “Buy” and an average target price of $152.78.
Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, December 21st. The information technology services provider reported $1.79 EPS for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.12. The company had revenue of $9.52 billion during the quarter, compared to the consensus estimate of $9.25 billion. Accenture had a net margin of 9.43% and a return on equity of 41.79%. Accenture’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.58 EPS.
Hedge funds have recently made changes to their positions in the company. Jacobi Capital Management LLC lifted its holdings in shares of Accenture by 104.8% during the 3rd quarter. Jacobi Capital Management LLC now owns 727 shares of the information technology services provider’s stock worth $100,000 after acquiring an additional 372 shares during the period. TCI Wealth Advisors Inc. lifted its holdings in shares of Accenture by 23.4% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 854 shares of the information technology services provider’s stock worth $106,000 after acquiring an additional 162 shares during the period. Manchester Capital Management LLC lifted its holdings in shares of Accenture by 7.0% during the 2nd quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock worth $114,000 after acquiring an additional 60 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Accenture by 5.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,030 shares of the information technology services provider’s stock worth $127,000 after acquiring an additional 52 shares during the period. Finally, Captrust Financial Advisors purchased a new position in Accenture in the second quarter valued at approximately $129,000. Institutional investors and hedge funds own 72.42% of the company’s stock.
In other Accenture news, insider Richard P. Clark sold 3,155 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $143.01, for a total transaction of $451,196.55. Following the sale, the insider now directly owns 5,533 shares of the company’s stock, valued at approximately $791,274.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel T. London sold 637 shares of the firm’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $136.03, for a total transaction of $86,651.11. The disclosure for this sale can be found here. Insiders have sold a total of 83,325 shares of company stock worth $11,479,125 over the last ninety days. 0.21% of the stock is owned by corporate insiders.
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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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