Cantor Fitzgerald restated their buy rating on shares of Accenture (NYSE:ACN) in a research note published on Thursday. The brokerage currently has a $193.00 price target on the information technology services provider’s stock.
“: We maintain our Overweight rating on Accenture and our PT of $193. The company, in our view, is positioned to continue to post solid growth in Digital services, an important contributor to aggregate growth. The “New” includes Digital plus Cloud and Security and has been growing by close to 30% annually to over half of revenues. The prior period (4QFY18) saw double-digit constant currency (cc) growth for the fourth quarter in a row, with strength in the Tech vertical and across all verticals. Investor focus for the quarter will be on FY19 guidance updates and recent acquisitions.”,” Cantor Fitzgerald’s analyst wrote.
Other research analysts have also recently issued research reports about the company. UBS Group set a $180.00 price objective on Accenture and gave the stock a hold rating in a research note on Wednesday, September 26th. Zacks Investment Research cut Accenture from a hold rating to a sell rating in a research report on Wednesday, November 28th. SunTrust Banks increased their target price on Accenture to $178.00 and gave the company a hold rating in a research report on Monday, October 1st. Deutsche Bank increased their target price on Accenture from $170.00 to $180.00 and gave the company a buy rating in a research report on Thursday, September 20th. Finally, Berenberg Bank raised Accenture to a buy rating and set a $190.00 target price on the stock in a research report on Thursday, September 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. Accenture presently has a consensus rating of Buy and an average target price of $177.39.
Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, September 27th. The information technology services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.02. Accenture had a return on equity of 41.92% and a net margin of 9.76%. The company had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $10.01 billion. During the same quarter in the prior year, the firm earned $1.48 earnings per share. Accenture’s revenue was up 10.9% compared to the same quarter last year. On average, analysts expect that Accenture will post 7.2 EPS for the current year.
In other news, COO Johan Deblaere sold 5,000 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $173.43, for a total value of $867,150.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jean-Marc Ollagnier sold 1,340 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $173.37, for a total value of $232,315.80. The disclosure for this sale can be found here. Insiders have sold a total of 78,717 shares of company stock worth $13,041,890 in the last ninety days. Insiders own 0.21% of the company’s stock.
Several institutional investors have recently bought and sold shares of ACN. Bank of New York Mellon Corp boosted its position in shares of Accenture by 115,500.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 10,222,554 shares of the information technology services provider’s stock worth $1,739,880,000 after purchasing an additional 10,213,711 shares in the last quarter. Capital World Investors boosted its position in shares of Accenture by 1,454.7% in the 3rd quarter. Capital World Investors now owns 2,876,218 shares of the information technology services provider’s stock worth $489,532,000 after purchasing an additional 2,691,218 shares in the last quarter. Nordea Investment Management AB acquired a new stake in shares of Accenture in the 3rd quarter worth $354,668,000. Charles Schwab Investment Advisory Inc. acquired a new stake in shares of Accenture in the 2nd quarter worth $270,434,000. Finally, Rehmann Capital Advisory Group boosted its position in shares of Accenture by 17,056.0% in the 3rd quarter. Rehmann Capital Advisory Group now owns 938,778 shares of the information technology services provider’s stock worth $5,515,000 after purchasing an additional 933,306 shares in the last quarter. 70.68% of the stock is owned by hedge funds and other institutional investors.
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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