Accenture (NYSE:ACN) Now Covered by Atlantic Securities

Stock analysts at Atlantic Securities assumed coverage on shares of Accenture (NYSE:ACN) in a report issued on Wednesday, The Fly reports. The firm set an “overweight” rating and a $246.00 price target on the information technology services provider’s stock. Atlantic Securities’ price objective would suggest a potential upside of 15.08% from the company’s previous close.

A number of other research firms have also recently commented on ACN. KeyCorp lifted their price objective on Accenture from $208.00 to $219.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Citigroup lifted their price objective on Accenture from $211.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Bank of America cut Accenture from a “neutral” rating to an “underperform” rating and set a $205.00 price objective for the company. in a research report on Tuesday, January 7th. They noted that the move was a valuation call. Wolfe Research upgraded Accenture from an “underperform” rating to a “peer perform” rating and set a $215.00 price target for the company in a report on Monday, January 6th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $220.00 price target on shares of Accenture in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Accenture currently has a consensus rating of “Buy” and an average price target of $216.17.

Accenture stock opened at $213.76 on Wednesday. The stock has a market cap of $135.00 billion, a PE ratio of 28.54, a P/E/G ratio of 2.63 and a beta of 1.03. The stock has a 50-day moving average price of $209.42 and a 200 day moving average price of $198.34. Accenture has a 52 week low of $158.19 and a 52 week high of $214.46. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.10. The firm had revenue of $11.36 billion during the quarter, compared to analysts’ expectations of $11.15 billion. Accenture had a return on equity of 33.35% and a net margin of 11.06%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.96 EPS. On average, equities analysts predict that Accenture will post 7.82 EPS for the current year.

In other Accenture news, CAO Richard P. Clark sold 3,533 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $209.18, for a total value of $739,032.94. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman David Rowland sold 9,791 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $211.38, for a total value of $2,069,621.58. Following the completion of the transaction, the chairman now directly owns 25,153 shares in the company, valued at $5,316,841.14. The disclosure for this sale can be found here. Insiders have sold a total of 29,254 shares of company stock worth $6,151,795 over the last three months. 0.10% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Financial Advisors Network Inc. raised its position in shares of Accenture by 0.7% during the 4th quarter. Financial Advisors Network Inc. now owns 7,681 shares of the information technology services provider’s stock valued at $1,617,000 after acquiring an additional 50 shares in the last quarter. Brookstone Capital Management grew its stake in Accenture by 2.3% during the 4th quarter. Brookstone Capital Management now owns 2,388 shares of the information technology services provider’s stock worth $503,000 after buying an additional 54 shares during the last quarter. CCG Wealth Management LLC grew its stake in Accenture by 5.0% during the 4th quarter. CCG Wealth Management LLC now owns 1,141 shares of the information technology services provider’s stock worth $240,000 after buying an additional 54 shares during the last quarter. CLS Investments LLC grew its stake in Accenture by 0.6% during the 4th quarter. CLS Investments LLC now owns 8,950 shares of the information technology services provider’s stock worth $1,885,000 after buying an additional 55 shares during the last quarter. Finally, Rowland Carmichael Advisors Inc. ADV grew its stake in Accenture by 1.3% during the 4th quarter. Rowland Carmichael Advisors Inc. ADV now owns 4,430 shares of the information technology services provider’s stock worth $933,000 after buying an additional 55 shares during the last quarter. 74.13% of the stock is currently owned by institutional investors.

Accenture Company Profile

Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.

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