Pivotal Research Analysts Give Accenture (ACN) a $180.00 Price Target

Pivotal Research set a $180.00 price target on Accenture (NYSE:ACN) in a research note issued to investors on Tuesday. The firm currently has a buy rating on the information technology services provider’s stock.

A number of other equities analysts also recently commented on ACN. Zacks Investment Research downgraded Accenture from a buy rating to a hold rating in a report on Tuesday, September 19th. Cowen restated a buy rating and set a $150.00 target price (up previously from $135.00) on shares of Accenture in a report on Tuesday, September 19th. Berenberg Bank restated a buy rating and set a $160.00 target price on shares of Accenture in a report on Thursday, September 21st. KeyCorp restated a buy rating and set a $135.00 target price on shares of Accenture in a report on Friday, September 22nd. Finally, Morgan Stanley upped their target price on Accenture from $132.00 to $140.00 and gave the company an equal weight rating in a report on Friday, September 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $156.57.

Shares of Accenture (ACN) traded up $0.73 during trading on Tuesday, hitting $160.94. The company had a trading volume of 1,715,400 shares, compared to its average volume of 2,210,142. The company has a market capitalization of $103,180.00, a P/E ratio of 28.54, a PEG ratio of 2.41 and a beta of 1.08. Accenture has a one year low of $112.31 and a one year high of $161.08.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, December 21st. The information technology services provider reported $1.79 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 41.79% and a net margin of 9.43%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.58 earnings per share. sell-side analysts anticipate that Accenture will post 6.64 EPS for the current fiscal year.

In other news, insider Daniel T. London sold 3,087 shares of the stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $140.05, for a total value of $432,334.35. Following the sale, the insider now directly owns 21,241 shares of the company’s stock, valued at $2,974,802.05. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ellyn Shook sold 4,375 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $159.25, for a total value of $696,718.75. Following the completion of the sale, the insider now directly owns 41,595 shares in the company, valued at $6,624,003.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,291 shares of company stock valued at $12,602,974. 0.21% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACN. Beach Investment Management LLC. grew its stake in shares of Accenture by 1,024.2% in the second quarter. Beach Investment Management LLC. now owns 36,537 shares of the information technology services provider’s stock worth $4,519,000 after acquiring an additional 33,287 shares during the last quarter. Blair William & Co. IL grew its stake in shares of Accenture by 6.6% in the second quarter. Blair William & Co. IL now owns 518,457 shares of the information technology services provider’s stock worth $64,123,000 after acquiring an additional 32,251 shares during the last quarter. ZWJ Investment Counsel Inc. grew its stake in shares of Accenture by 7.6% in the second quarter. ZWJ Investment Counsel Inc. now owns 53,972 shares of the information technology services provider’s stock worth $6,675,000 after acquiring an additional 3,805 shares during the last quarter. Northeast Investment Management grew its stake in shares of Accenture by 44.9% in the second quarter. Northeast Investment Management now owns 47,982 shares of the information technology services provider’s stock worth $5,934,000 after acquiring an additional 14,865 shares during the last quarter. Finally, Financial Advisors Network Inc. grew its stake in shares of Accenture by 3.6% in the second quarter. Financial Advisors Network Inc. now owns 2,704 shares of the information technology services provider’s stock worth $334,000 after acquiring an additional 93 shares during the last quarter. 75.28% of the stock is currently owned by hedge funds and other 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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