Accenture’s (ACN) “Buy” Rating Reaffirmed at Cowen

Cowen reiterated their buy rating on shares of Accenture (NYSE:ACN) in a research report sent to investors on Thursday morning. They currently have a $165.00 price target on the information technology services provider’s stock.

ACN has been the topic of a number of other research reports. Zacks Investment Research upgraded Accenture from a hold rating to a buy rating and set a $145.00 target price on the stock in a research report on Monday, August 28th. Berenberg Bank reiterated a buy rating and issued a $160.00 price objective on shares of Accenture in a report on Thursday, September 21st. Stifel Nicolaus reiterated a buy rating and issued a $150.00 price objective on shares of Accenture in a report on Friday, November 3rd. SunTrust Banks set a $130.00 price objective on Accenture and gave the company a hold rating in a report on Sunday, October 1st. Finally, Robert W. Baird boosted their price objective on Accenture from $148.00 to $150.00 and gave the company a neutral rating in a report on Thursday, September 28th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Accenture currently has a consensus rating of Buy and a consensus price target of $146.42.

Accenture (ACN) traded up $1.45 during trading hours on Thursday, reaching $152.66. The company’s stock had a trading volume of 3,498,800 shares, compared to its average volume of 2,114,499. Accenture has a 12 month low of $112.31 and a 12 month high of $152.90. The stock has a market capitalization of $99,930.84, a P/E ratio of 25.62, a P/E/G ratio of 2.24 and a beta of 1.08.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, September 28th. The information technology services provider reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.01. Accenture had a return on equity of 42.65% and a net margin of 9.37%. The company had revenue of $9.15 billion for the quarter, compared to the consensus estimate of $9.01 billion. During the same quarter in the previous year, the business earned $1.31 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. research analysts anticipate that Accenture will post 6.54 earnings per share for the current fiscal year.

The business also recently declared a Semi-Annual dividend, which was paid on Wednesday, November 15th. Shareholders of record on Thursday, October 19th were issued a dividend of $1.33 per share. The ex-dividend date of this dividend was Wednesday, October 18th. This represents a yield of 1.97%. Accenture’s dividend payout ratio (DPR) is 48.90%.

In other Accenture news, CEO Pierre Nanterme sold 38,589 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $135.03, for a total transaction of $5,210,672.67. Following the sale, the chief executive officer now owns 179,083 shares in the company, valued at approximately $24,181,577.49. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Daniel T. London sold 637 shares of the company’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $136.03, for a total value of $86,651.11. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,325 shares of company stock worth $11,479,125. 0.21% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of ACN. Westwood Holdings Group Inc. boosted its position in shares of Accenture by 1,161.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 687,543 shares of the information technology services provider’s stock worth $82,423,000 after acquiring an additional 633,024 shares in the last quarter. Credit Suisse AG boosted its position in shares of Accenture by 17.7% during the 1st quarter. Credit Suisse AG now owns 1,326,717 shares of the information technology services provider’s stock worth $159,047,000 after acquiring an additional 199,275 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Accenture during the 1st quarter worth about $342,000. HighTower Advisors LLC boosted its position in shares of Accenture by 23.4% during the 1st quarter. HighTower Advisors LLC now owns 64,462 shares of the information technology services provider’s stock worth $7,730,000 after acquiring an additional 12,238 shares in the last quarter. Finally, Harbour Capital Advisors LLC acquired a new position in shares of Accenture during the 1st quarter worth about $122,000. Institutional investors own 72.51% of the company’s stock.

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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.

Analyst Recommendations for Accenture (NYSE:ACN)

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