Accenture plc (NYSE:ACN) Receives Average Recommendation of “Buy” from Brokerages

Shares of Accenture plc (NYSE:ACNGet Rating) have received an average recommendation of “Buy” from the twenty-seven analysts that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $383.57.

Several equities analysts recently weighed in on the company. Stifel Nicolaus dropped their price objective on Accenture from $440.00 to $368.00 in a research note on Thursday, March 17th. BMO Capital Markets lowered their price objective on Accenture from $460.00 to $385.00 in a research report on Friday, March 18th. Robert W. Baird downgraded Accenture to a “neutral” rating in a research report on Friday, April 22nd. Zacks Investment Research cut Accenture from a “buy” rating to a “hold” rating and set a $323.00 target price on the stock. in a report on Tuesday, March 15th. Finally, StockNews.com began coverage on Accenture in a research note on Thursday, March 31st. They set a “buy” rating on the stock.

ACN opened at $304.95 on Friday. Accenture has a one year low of $268.17 and a one year high of $417.37. The company has a market cap of $193.31 billion, a P/E ratio of 30.74, a PEG ratio of 2.77 and a beta of 1.24. The business’s 50-day simple moving average is $309.21 and its 200-day simple moving average is $337.95.

Accenture (NYSE:ACNGet Rating) last posted its quarterly earnings data on Thursday, March 17th. The information technology services provider reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.18. Accenture had a return on equity of 31.16% and a net margin of 11.28%. The company had revenue of $15.05 billion during the quarter, compared to analysts’ expectations of $14.67 billion. During the same period last year, the firm earned $2.03 EPS. The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. Analysts forecast that Accenture will post 10.8 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Thursday, April 14th were paid a $0.97 dividend. The ex-dividend date of this dividend was Wednesday, April 13th. This represents a $3.88 annualized dividend and a yield of 1.27%. Accenture’s payout ratio is currently 39.11%.

In related news, CEO Julie Spellman Sweet sold 3,287 shares of the company’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $315.22, for a total transaction of $1,036,128.14. Following the completion of the transaction, the chief executive officer now directly owns 19,836 shares in the company, valued at approximately $6,252,703.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ellyn Shook sold 750 shares of the company’s stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $310.55, for a total transaction of $232,912.50. Following the transaction, the insider now owns 21,846 shares of the company’s stock, valued at $6,784,275.30. The disclosure for this sale can be found here. Insiders sold a total of 10,757 shares of company stock worth $3,386,681 over the last quarter. Company insiders own 0.07% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Equitable Holdings Inc. lifted its position in shares of Accenture by 24.7% during the fourth quarter. Equitable Holdings Inc. now owns 1,334 shares of the information technology services provider’s stock valued at $553,000 after purchasing an additional 264 shares in the last quarter. Engine NO. 1 LLC lifted its position in Accenture by 68.2% during the third quarter. Engine NO. 1 LLC now owns 3,417 shares of the information technology services provider’s stock valued at $1,093,000 after purchasing an additional 1,386 shares during the last quarter. FDx Advisors Inc. lifted its position in Accenture by 6.3% during the fourth quarter. FDx Advisors Inc. now owns 169,310 shares of the information technology services provider’s stock valued at $70,188,000 after purchasing an additional 10,044 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in Accenture by 4.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 48,675 shares of the information technology services provider’s stock valued at $20,178,000 after purchasing an additional 2,054 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Accenture by 4.9% in the 4th quarter. Van ECK Associates Corp now owns 85,404 shares of the information technology services provider’s stock worth $35,404,000 after acquiring an additional 3,973 shares during the last quarter. Institutional investors own 74.46% of the company’s stock.

About Accenture (Get Rating)

Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.

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Analyst Recommendations for Accenture (NYSE:ACN)

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