Accenture PLC (ACN) Given Neutral Rating at Robert W. Baird

Accenture PLC (NYSE:ACN)‘s stock had its “neutral” rating reiterated by analysts at Robert W. Baird in a research report issued on Friday. They currently have a $148.00 price target on the information technology services provider’s stock, up from their prior price target of $142.00. Robert W. Baird’s price target would suggest a potential upside of 7.32% from the stock’s previous close.

ACN has been the topic of several other reports. BMO Capital Markets reaffirmed a “hold” rating and issued a $130.00 price objective (up from $125.00) on shares of Accenture PLC in a report on Thursday, June 22nd. Zacks Investment Research raised shares of Accenture PLC from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a report on Monday, August 28th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $138.00 price objective (up from $131.50) on shares of Accenture PLC in a report on Friday, June 16th. Berenberg Bank reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Accenture PLC in a report on Thursday. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $150.00 price objective (up from $135.00) on shares of Accenture PLC in a report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Accenture PLC presently has a consensus rating of “Buy” and an average price target of $135.07.

Accenture PLC (NYSE:ACN) last released its quarterly earnings data on Thursday, June 22nd. The information technology services provider reported $1.52 EPS for the quarter, meeting the consensus estimate of $1.52. The business had revenue of $8.87 billion for the quarter, compared to the consensus estimate of $8.82 billion. Accenture PLC had a net margin of 9.92% and a return on equity of 43.96%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.41 EPS.

ILLEGAL ACTIVITY WARNING: This report was first posted by Transcript Daily and is the property of of Transcript Daily. If you are accessing this report on another domain, it was copied illegally and reposted in violation of U.S. and international trademark and copyright laws. The legal version of this report can be accessed at https://transcriptdaily.com/2017/09/22/accenture-plc-acn-pt-raised-to-148-00-at-robert-w-baird.html.

In related news, insider Ellyn Shook sold 4,400 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $125.00, for a total transaction of $550,000.00. Following the completion of the sale, the insider now directly owns 37,344 shares in the company, valued at $4,668,000. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Richard Lumb sold 2,200 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $129.26, for a total transaction of $284,372.00. Following the sale, the insider now owns 119,013 shares of the company’s stock, valued at $15,383,620.38. The disclosure for this sale can be found here. Insiders sold 20,582 shares of company stock valued at $2,634,573 over the last quarter. Company insiders own 0.21% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ACN. TCI Wealth Advisors Inc. increased its position in Accenture PLC by 23.4% during the second quarter. TCI Wealth Advisors Inc. now owns 854 shares of the information technology services provider’s stock worth $106,000 after purchasing an additional 162 shares during the last quarter. Bellwether Investment Group LLC increased its position in Accenture PLC by 64.2% during the first quarter. Bellwether Investment Group LLC now owns 918 shares of the information technology services provider’s stock worth $110,000 after purchasing an additional 359 shares during the last quarter. Manchester Capital Management LLC increased its position in Accenture PLC by 7.0% during the second quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock worth $114,000 after purchasing an additional 60 shares during the last quarter. Parkside Financial Bank & Trust increased its position in Accenture PLC by 2.0% during the first quarter. Parkside Financial Bank & Trust now owns 978 shares of the information technology services provider’s stock worth $117,000 after purchasing an additional 19 shares during the last quarter. Finally, Opera Trading Capital acquired a new stake in Accenture PLC during the first quarter worth about $119,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.

About Accenture PLC

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.

Analyst Recommendations for Accenture PLC (NYSE:ACN)

Receive News & Ratings for Accenture PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture PLC and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply