Traders Buy Shares of Accenture (ACN) on Weakness

Investors bought shares of Accenture Plc (NYSE:ACN) on weakness during trading on Friday. $107.19 million flowed into the stock on the tick-up and $68.34 million flowed out of the stock on the tick-down, for a money net flow of $38.85 million into the stock. Of all equities tracked, Accenture had the 30th highest net in-flow for the day. Accenture traded down ($0.43) for the day and closed at $171.64

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald increased their price objective on shares of Accenture from $180.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, June 29th. BMO Capital Markets increased their price objective on shares of Accenture to $170.00 and gave the stock a “market perform” rating in a research note on Friday, June 29th. Bank of America reiterated a “neutral” rating and issued a $79.00 price objective on shares of Accenture in a research note on Friday, June 29th. Citigroup increased their price objective on shares of Accenture from $159.00 to $163.00 and gave the stock a “neutral” rating in a research note on Friday, June 29th. Finally, Credit Suisse Group increased their price objective on shares of Accenture from $151.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, June 29th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Accenture has a consensus rating of “Hold” and a consensus target price of $162.11.

The firm has a market capitalization of $114.93 billion, a PE ratio of 25.66, a P/E/G ratio of 2.29 and a beta of 0.97.

Accenture (NYSE:ACN) last released its earnings results on Thursday, June 28th. The information technology services provider reported $1.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.07. The company had revenue of $10.32 billion during the quarter, compared to analyst estimates of $10.04 billion. Accenture had a net margin of 9.76% and a return on equity of 42.01%. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.52 EPS. equities research analysts predict that Accenture Plc will post 6.71 EPS for the current fiscal year.

In related news, General Counsel Chad T. Jerdee sold 1,141 shares of the stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $162.30, for a total value of $185,184.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard Lumb sold 2,000 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $160.86, for a total transaction of $321,720.00. Following the sale, the insider now directly owns 117,807 shares of the company’s stock, valued at $18,950,434.02. The disclosure for this sale can be found here. Insiders sold a total of 54,357 shares of company stock valued at $8,865,112 over the last three months. 0.21% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. WP Advisors LLC purchased a new stake in Accenture during the 2nd quarter valued at approximately $106,000. MUFG Securities EMEA plc purchased a new stake in Accenture during the 2nd quarter valued at approximately $118,000. BDO Wealth Advisors LLC grew its holdings in Accenture by 105.3% during the 1st quarter. BDO Wealth Advisors LLC now owns 739 shares of the information technology services provider’s stock valued at $113,000 after buying an additional 379 shares in the last quarter. Fort L.P. purchased a new stake in Accenture during the 2nd quarter valued at approximately $124,000. Finally, Penserra Capital Management LLC purchased a new stake in Accenture during the 1st quarter valued at approximately $127,000. 70.50% of the stock is owned by institutional investors and hedge funds.

Accenture Company Profile (NYSE:ACN)

Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for communications, media, and high tech industries, as well as for software platforms.

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