Accenture’s (ACN) Buy Rating Reiterated at Pivotal Research

Pivotal Research restated their buy rating on shares of Accenture (NYSE:ACN) in a research report sent to investors on Wednesday morning. The firm currently has a $180.00 target price on the information technology services provider’s stock.

“We attended the RPA (robotic process automation) NYC conference last year, what are your thoughts on RPA and Automation for a YY comparison? Automation is here to stay. Didn’t think it was ‘emerging’ last year as it has been around for many years, but yes it has gained steam and last was an inflection point.”,” the firm’s analyst wrote.

ACN has been the subject of several other research reports. KeyCorp upped their target price on shares of Accenture from $157.00 to $172.00 and gave the stock an overweight rating in a research note on Saturday, December 30th. SunTrust Banks reiterated a hold rating and issued a $164.00 target price on shares of Accenture in a research note on Thursday, December 21st. Barclays upped their target price on shares of Accenture from $135.00 to $152.00 and gave the stock an equal weight rating in a research note on Friday, December 22nd. Cowen reiterated a buy rating and issued a $166.00 target price on shares of Accenture in a research note on Friday, December 22nd. Finally, Zacks Investment Research lowered shares of Accenture from a buy rating to a hold rating in a research note on Tuesday, September 19th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the stock. Accenture presently has an average rating of Hold and a consensus price target of $156.57.

Accenture (NYSE:ACN) traded up $1.00 during midday trading on Wednesday, hitting $160.11. Accenture has a twelve month low of $112.31 and a twelve month high of $160.63. The stock has a market capitalization of $102,640.00, a PE ratio of 28.39, a PEG ratio of 2.40 and a beta of 1.08.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, December 21st. The information technology services provider reported $1.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.12. Accenture had a net margin of 9.43% and a return on equity of 41.79%. The firm had revenue of $9.52 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the prior year, the business posted $1.58 EPS. The business’s revenue was up 11.8% compared to the same quarter last year. analysts forecast that Accenture will post 6.64 earnings per share for the current fiscal year.

In other Accenture news, CEO Pierre Nanterme sold 34,232 shares of the company’s stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $152.94, for a total transaction of $5,235,442.08. Following the sale, the chief executive officer now directly owns 262,490 shares of the company’s stock, valued at $40,145,220.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Richard P. Clark sold 1,433 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $158.37, for a total transaction of $226,944.21. Following the sale, the chief accounting officer now directly owns 8,932 shares in the company, valued at $1,414,560.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,116 shares of company stock valued at $12,211,924. 0.21% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACN. Jacobi Capital Management LLC lifted its holdings in Accenture by 104.8% during the third quarter. Jacobi Capital Management LLC now owns 727 shares of the information technology services provider’s stock valued at $100,000 after purchasing an additional 372 shares during the last quarter. TCI Wealth Advisors Inc. lifted its holdings in Accenture by 23.4% during the second quarter. TCI Wealth Advisors Inc. now owns 854 shares of the information technology services provider’s stock valued at $106,000 after purchasing an additional 162 shares during the last quarter. Manchester Capital Management LLC lifted its holdings in Accenture by 7.0% during the second quarter. Manchester Capital Management LLC now owns 920 shares of the information technology services provider’s stock valued at $114,000 after purchasing an additional 60 shares during the last quarter. Captrust Financial Advisors purchased a new stake in Accenture during the second quarter valued at about $129,000. Finally, Monroe Bank & Trust MI lifted its holdings in Accenture by 37.3% during the second quarter. Monroe Bank & Trust MI now owns 1,288 shares of the information technology services provider’s stock valued at $159,000 after purchasing an additional 350 shares during the last quarter. 75.23% of the stock is currently owned by institutional investors and hedge funds.

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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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