Accenture (NYSE:ACN) PT Raised to $400.00

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.

Accenture (NYSE:ACN) last issued its earnings results on Wednesday, September 22nd. The information technology services provider reported $2.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.19 by $0.01. Accenture had a return on equity of 28.94% and a net margin of 12.06%. The company had revenue of $13.42 billion during the quarter, compared to the consensus estimate of $13.42 billion. During the same period in the previous year, the company posted $1.70 EPS. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. On average, equities analysts predict that Accenture will post 8.79 EPS for the current fiscal year.

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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