Accenture PLC’s (ACN) “Hold” Rating Reiterated at Morgan Stanley

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Accenture PLC (NYSE:ACN)‘s stock had its “hold” rating restated by equities research analysts at Morgan Stanley in a note issued to investors on Wednesday. They currently have a $120.00 target price on the stock. Morgan Stanley’s price objective would indicate a potential upside of 8.40% from the stock’s current price.
Several other equities analysts have also issued reports on ACN. Cowen and Company lifted their price target on shares of Accenture PLC from $118.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, May 31st. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $126.00 price target on shares of Accenture PLC in a report on Monday, June 20th. Bank of America Corp. reaffirmed a “hold” rating on shares of Accenture PLC in a report on Monday, June 20th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $112.00 price target (up from $104.00) on shares of Accenture PLC in a report on Wednesday, June 22nd. Finally, Susquehanna reaffirmed a “positive” rating and issued a $130.00 price target on shares of Accenture PLC in a report on Wednesday, June 22nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Accenture PLC currently has a consensus rating of “Buy” and a consensus target price of $120.92.
Accenture PLC (NYSE:ACN) traded up 0.42% during midday trading on Wednesday, hitting $111.16. The stock had a trading volume of 712,251 shares. The firm has a 50-day moving average of $113.25 and a 200 day moving average of $114.02. Accenture PLC has a 52-week low of $91.40 and a 52-week high of $120.78. The firm has a market capitalization of $69.20 billion, a P/E ratio of 18.79 and a beta of 1.17.

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Accenture PLC (NYSE:ACN) last released its quarterly earnings results on Thursday, June 23rd. The company reported $1.41 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.41. Accenture PLC had a net margin of 11.24% and a return on equity of 47.61%. The business had revenue of $8.43 billion for the quarter. During the same period in the prior year, the firm posted $1.30 earnings per share. Accenture PLC’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities analysts forecast that Accenture PLC will post $5.33 EPS for the current year.
In related news, insider Richard Lumb sold 1,250 shares of the company’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $109.88, for a total transaction of $137,350.00. Following the completion of the sale, the insider now owns 129,013 shares of the company’s stock, valued at approximately $14,175,948.44. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Richard P. Clark sold 876 shares of the company’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $113.43, for a total transaction of $99,364.68. Following the sale, the insider now directly owns 16,396 shares of the company’s stock, valued at approximately $1,859,798.28. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ACN. Headinvest LLC raised its position in Accenture PLC by 3.0% in the first quarter. Headinvest LLC now owns 42,240 shares of the company’s stock valued at $4,874,000 after buying an additional 1,215 shares during the last quarter. Lodestar Investment Counsel LLC IL raised its position in Accenture PLC by 5.2% in the first quarter. Lodestar Investment Counsel LLC IL now owns 113,841 shares of the company’s stock valued at $13,137,000 after buying an additional 5,652 shares during the last quarter. Legacy Private Trust Co. raised its position in Accenture PLC by 9.4% in the first quarter. Legacy Private Trust Co. now owns 29,137 shares of the company’s stock valued at $3,363,000 after buying an additional 2,503 shares during the last quarter. Bridges Investment Management Inc. raised its position in Accenture PLC by 7.1% in the first quarter. Bridges Investment Management Inc. now owns 18,016 shares of the company’s stock valued at $1,743,000 after buying an additional 1,200 shares during the last quarter. Finally, OLD National Bancorp IN raised its position in Accenture PLC by 6.3% in the first quarter. OLD National Bancorp IN now owns 14,556 shares of the company’s stock valued at $1,680,000 after buying an additional 869 shares during the last quarter. 77.18% of the stock is owned by institutional investors.
About Accenture PLC
Accenture plc is engaged in providing management consulting, technology and outsourcing services. The Company’s business is structured around five operating groups, which together consists of 19 industry groups serving clients in industries globally. The Company’s segment includes Communications, Media & Technology, Financial Services, Health & Public Service, Products and Resources.

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