Pivotal Research Reiterates Buy Rating for Accenture (ACN)

Accenture (NYSE:ACN)‘s stock had its “buy” rating reiterated by equities research analysts at Pivotal Research in a research report issued on Wednesday. They currently have a $180.00 target price on the information technology services provider’s stock. Pivotal Research’s price target points to a potential upside of 12.42% from the stock’s current price.

The analysts wrote, “We attended the RPA (robotic process automation) NYC conference last year, what are your thoughts on RPA and Automation for a YY comparison? Automation is here to stay. Didn’t think it was ‘emerging’ last year as it has been around for many years, but yes it has gained steam and last was an inflection point.””

Several other equities analysts have also commented on the stock. Credit Suisse Group set a $165.00 price objective on shares of Accenture and gave the stock a “hold” rating in a report on Tuesday, January 2nd. KeyCorp upped their price objective on shares of Accenture from $157.00 to $172.00 and gave the stock an “overweight” rating in a report on Saturday, December 30th. Barclays upped their price objective on shares of Accenture from $135.00 to $152.00 and gave the stock an “equal weight” rating in a report on Saturday, December 30th. Zacks Investment Research lowered shares of Accenture from a “buy” rating to a “hold” rating in a report on Friday, December 29th. Finally, Susquehanna Bancshares restated a “hold” rating and issued a $145.00 price objective on shares of Accenture in a report on Tuesday, December 26th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company. Accenture presently has an average rating of “Hold” and a consensus price target of $156.57.

Shares of Accenture (NYSE ACN) traded up $1.00 during mid-day trading on Wednesday, hitting $160.11. Accenture has a one year low of $112.31 and a one year high of $160.63. The stock has a market cap of $102,640.00, a P/E ratio of 28.39, a PEG ratio of 2.40 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 consensus estimate of $1.67 by $0.12. Accenture had a net margin of 9.43% and a return on equity of 41.79%. The firm had revenue of $9.52 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same period in the prior year, the business posted $1.58 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. equities analysts expect that Accenture will post 6.64 earnings per share for the current year.

In other Accenture news, CAO Richard P. Clark sold 1,433 shares of the stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $158.37, for a total transaction of $226,944.21. Following the sale, the chief accounting officer now directly owns 8,932 shares in the company, valued at approximately $1,414,560.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Richard P. Clark sold 1,754 shares of the stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $158.39, for a total transaction of $277,816.06. Following the completion of the sale, the insider now directly owns 10,543 shares in the company, valued at $1,669,905.77. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,116 shares of company stock worth $12,211,924. 0.21% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in ACN. Jacobi Capital Management LLC increased its position in shares of Accenture by 104.8% in the 3rd quarter. Jacobi Capital Management LLC now owns 727 shares of the information technology services provider’s stock valued at $100,000 after purchasing an additional 372 shares during the last quarter. TCI Wealth Advisors Inc. increased its position in shares of Accenture by 23.4% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 854 shares of the information technology services provider’s stock valued at $106,000 after purchasing an additional 162 shares during the last quarter. Manchester Capital Management LLC increased its position in shares of Accenture by 7.0% in the 2nd quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock valued at $114,000 after purchasing an additional 60 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of Accenture in the 2nd quarter valued at approximately $129,000. Finally, Monroe Bank & Trust MI increased its position in shares of Accenture by 37.3% in the 2nd quarter. Monroe Bank & Trust MI now owns 1,288 shares of the information technology services provider’s stock valued at $159,000 after purchasing an additional 350 shares during the last quarter. 75.23% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: This piece of content was posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark law. The original version of this piece of content can be viewed at https://www.com-unik.info/2018/01/13/pivotal-research-reiterates-buy-rating-for-accenture-acn.html.

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)

Receive News & Ratings for Accenture Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit