Pivotal Research set a $180.00 price objective on Accenture (NYSE:ACN) in a report issued on Wednesday, March 7th. The brokerage currently has a buy rating on the information technology services provider’s stock.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research raised Accenture from a hold rating to a buy rating and set a $172.00 price target for the company in a research note on Wednesday, December 27th. Morgan Stanley raised Accenture from an equal weight rating to an overweight rating and lowered their price target for the company from $159.00 to $140.00 in a research note on Monday, February 5th. Cowen restated a buy rating and issued a $165.00 target price on shares of Accenture in a report on Thursday, December 14th. Credit Suisse Group set a $165.00 target price on Accenture and gave the stock a hold rating in a report on Tuesday, January 2nd. Finally, SunTrust Banks restated a hold rating and issued a $164.00 target price on shares of Accenture in a report on Thursday, December 21st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Accenture has a consensus rating of Hold and an average target price of $160.75.
Shares of NYSE ACN traded up $6.09 during trading hours on Wednesday, hitting $153.50. The stock had a trading volume of 3,595,891 shares, compared to its average volume of 3,133,892. The stock has a market cap of $97,515.17, a price-to-earnings ratio of 25.97, a PEG ratio of 2.30 and a beta of 1.01. Accenture has a 52 week low of $114.82 and a 52 week high of $165.58.
In other news, insider Richard P. Clark sold 1,754 shares of the company’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $158.39, for a total transaction of $277,816.06. Following the transaction, the insider now owns 10,543 shares of the company’s stock, valued at $1,669,905.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider ‘T Noordende Alexander M. Van sold 6,500 shares of the stock in a transaction dated Monday, January 1st. The shares were sold at an average price of $153.48, for a total value of $997,620.00. The disclosure for this sale can be found here. Insiders have sold 121,512 shares of company stock worth $18,664,946 in the last 90 days. Company insiders own 0.21% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACN. Farmers National Bank bought a new position in shares of Accenture during the fourth quarter worth about $107,000. Jacobi Capital Management LLC grew its holdings in shares of Accenture by 104.8% during the third quarter. Jacobi Capital Management LLC now owns 727 shares of the information technology services provider’s stock worth $100,000 after buying an additional 372 shares in the last quarter. Virtue Capital Management LLC bought a new position in shares of Accenture during the fourth quarter worth about $128,000. Aevitas Wealth Management Inc. bought a new position in shares of Accenture during the fourth quarter worth about $131,000. Finally, Wagner Wealth Management LLC bought a new position in shares of Accenture during the fourth quarter worth about $179,000. 75.58% of the stock is currently owned by institutional investors.
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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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