Accenture (NYSE:ACN) had its price target raised by Morgan Stanley from $380.00 to $400.00 in a report released on Friday, The Fly reports. The firm currently has an “overweight” rating on the information technology services provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 17.91% from the stock’s current price.
ACN has been the subject of several other reports. Argus lifted their target price on Accenture from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Tuesday, June 29th. Jefferies Financial Group initiated coverage on Accenture in a research note on Monday, June 21st. They issued a “hold” rating and a $309.00 price target for the company. Bank of America boosted their price target on Accenture from $324.00 to $379.00 and gave the company a “buy” rating in a research note on Friday, September 10th. Exane BNP Paribas upgraded Accenture from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 23rd. Finally, Susquehanna boosted their price target on Accenture from $325.00 to $340.00 and gave the company a “positive” rating in a research note on Friday, June 25th. Five investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, Accenture has an average rating of “Buy” and a consensus target price of $350.29.
Shares of NYSE ACN opened at $339.23 on Friday. Accenture has a 12 month low of $210.42 and a 12 month high of $345.52. The stock has a 50 day moving average of $329.06 and a 200-day moving average of $301.13. The company has a market capitalization of $215.29 billion, a P/E ratio of 37.95, a P/E/G ratio of 3.48 and a beta of 1.11.
In related news, COO Johan Deblaere sold 3,000 shares of the business’s stock in a transaction on Friday, July 16th. The stock was sold at an average price of $314.21, for a total transaction of $942,630.00. Following the sale, the chief operating officer now owns 48,672 shares in the company, valued at approximately $15,293,229.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ellyn Shook sold 2,600 shares of the business’s stock in a transaction on Friday, July 23rd. The stock was sold at an average price of $317.47, for a total value of $825,422.00. Following the sale, the insider now owns 19,420 shares in the company, valued at approximately $6,165,267.40. The disclosure for this sale can be found here. Insiders have sold a total of 19,993 shares of company stock valued at $6,194,020 in the last three months. 0.07% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Moisand Fitzgerald Tamayo LLC bought a new stake in shares of Accenture in the 2nd quarter valued at about $25,000. Solstein Capital LLC bought a new stake in shares of Accenture in the 1st quarter valued at about $29,000. Hanson & Doremus Investment Management grew its position in shares of Accenture by 750.0% in the 2nd quarter. Hanson & Doremus Investment Management now owns 136 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 120 shares during the last quarter. Trustcore Financial Services LLC grew its position in shares of Accenture by 456.0% in the 2nd quarter. Trustcore Financial Services LLC now owns 139 shares of the information technology services provider’s stock valued at $41,000 after buying an additional 114 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC bought a new stake in shares of Accenture in the 2nd quarter valued at about $44,000. Institutional investors and hedge funds own 73.20% of the company’s stock.
Accenture Company Profile
Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following segments: Communications, Media, and Technology; Financial Services; Health and Public Service; Products; Resources; and Other. The Communications, Media, and Technology segment serves communications, media, high-tech, and software and platform companies through acceleration and delivery of digital transformation, development of comprehensive and industry-specific solutions, and enhance efficiency and business results.
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