Published On: Sat, Sep 10th, 2016

Traders Buy Accenture PLC (ACN) on Weakness

Investors bought shares of Accenture PLC (NYSE:ACN) on weakness during trading on Friday. $93.47 million flowed into the stock on the tick-up and $57.83 million flowed out of the stock on the tick-down, for a money net flow of $35.64 million into the stock. Of all equities tracked, Accenture PLC had the 15th highest net in-flow for the day. Accenture PLC traded down ($1.91) for the day and closed at $110.39
Several research firms recently commented on ACN. Cantor Fitzgerald reiterated a “buy” rating on shares of Accenture PLC in a research note on Monday, July 18th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Accenture PLC in a research note on Tuesday, July 19th. BMO Capital Markets reiterated a “hold” rating and set a $118.00 target price on shares of Accenture PLC in a research note on Sunday, August 7th. Wedbush began coverage on shares of Accenture PLC in a research note on Thursday. They set an “outperform” rating and a $125.00 target price for the company. Finally, Credit Suisse Group AG cut shares of Accenture PLC from an “outperform” rating to a “neutral” rating and cut their target price for the company from $120.94 to $120.00 in a research note on Friday, June 24th. Eleven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $120.54.
The stock has a market cap of $68.72 billion, a price-to-earnings ratio of 18.66 and a beta of 1.17. The firm’s 50 day moving average price is $113.73 and its 200 day moving average price is $113.38.

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Accenture PLC (NYSE:ACN) last posted its quarterly earnings results on Thursday, June 23rd. The company reported $1.41 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.41. The business earned $8.43 billion during the quarter. Accenture PLC had a return on equity of 47.61% and a net margin of 11.24%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $1.30 EPS. Analysts predict that Accenture PLC will post $5.33 earnings per share for the current fiscal year.
In other Accenture PLC news, insider Richard Lumb sold 1,250 shares of Accenture PLC stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $113.12, for a total value of $141,400.00. Following the transaction, the insider now owns 125,647 shares in the company, valued at $14,213,188.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel T. London sold 3,686 shares of Accenture PLC stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $115.57, for a total value of $425,991.02. Following the completion of the transaction, the insider now owns 26,023 shares in the company, valued at approximately $3,007,478.11. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.
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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