Argus Increases Accenture (NYSE:ACN) Price Target to $400.00

Accenture (NYSE:ACN) had its price target boosted by Argus from $330.00 to $400.00 in a note issued to investors on Friday, The Fly reports. The brokerage currently has a “buy” rating on the information technology services provider’s stock. Argus’ price target points to a potential upside of 17.91% from the stock’s current price.

ACN has been the subject of several other reports. Citigroup boosted their target price on shares of Accenture from $340.00 to $390.00 and gave the company a “buy” rating in a research report on Friday. Redburn Partners upgraded shares of Accenture from a “neutral” rating to a “buy” rating and set a $318.65 target price for the company in a research report on Monday, July 26th. Exane BNP Paribas upgraded shares of Accenture from a “neutral” rating to an “outperform” rating in a research report on Wednesday, June 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Accenture from $310.00 to $395.00 and gave the company a “buy” rating in a research report on Thursday, September 16th. Finally, Cowen lifted their price target on shares of Accenture from $316.00 to $365.00 and gave the company an “outperform” rating in a report on Wednesday, September 8th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $350.29.

Shares of Accenture stock opened at $339.23 on Friday. Accenture has a twelve month low of $210.42 and a twelve month high of $345.52. The company has a 50-day simple moving average of $329.06 and a two-hundred day simple moving average of $301.13. The stock has a market capitalization of $215.29 billion, a price-to-earnings ratio of 37.95, a price-to-earnings-growth ratio of 3.48 and a beta of 1.11.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Wednesday, September 22nd. The information technology services provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.01. Accenture had a net margin of 12.06% and a return on equity of 28.94%. The business had revenue of $13.42 billion during the quarter, compared to analysts’ expectations of $13.42 billion. During the same quarter in the previous year, the company earned $1.70 EPS. The business’s revenue was up 23.8% on a year-over-year basis. On average, equities analysts forecast that Accenture will post 8.79 EPS for the current year.

In related news, insider Jean-Marc Ollagnier sold 5,233 shares of the business’s stock in a transaction on Friday, July 16th. The shares were sold at an average price of $314.20, for a total transaction of $1,644,208.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ellyn Shook sold 2,600 shares of the business’s stock in a transaction on Friday, July 23rd. The shares were sold at an average price of $317.47, for a total transaction of $825,422.00. Following the transaction, the insider now owns 19,420 shares in the company, valued at approximately $6,165,267.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,993 shares of company stock worth $6,194,020. Insiders own 0.07% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Trust Asset Management LLC raised its holdings in Accenture by 12.4% during the second quarter. Trust Asset Management LLC now owns 5,743 shares of the information technology services provider’s stock worth $1,693,000 after buying an additional 635 shares during the last quarter. TownSquare Capital LLC raised its holdings in Accenture by 8.1% during the first quarter. TownSquare Capital LLC now owns 103,647 shares of the information technology services provider’s stock worth $28,631,000 after buying an additional 7,734 shares during the last quarter. Glenmede Trust Co. NA raised its holdings in Accenture by 8.3% during the first quarter. Glenmede Trust Co. NA now owns 616,731 shares of the information technology services provider’s stock worth $170,370,000 after buying an additional 47,124 shares during the last quarter. Comgest Global Investors S.A.S. raised its holdings in Accenture by 9.5% during the first quarter. Comgest Global Investors S.A.S. now owns 1,619,634 shares of the information technology services provider’s stock worth $447,424,000 after buying an additional 141,064 shares during the last quarter. Finally, Van Leeuwen & Company LLC purchased a new stake in shares of Accenture in the second quarter valued at about $2,306,000. Hedge funds and other institutional investors own 73.20% of the company’s stock.

Accenture Company Profile

Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following segments: Communications, Media, and Technology; Financial Services; Health and Public Service; Products; Resources; and Other. The Communications, Media, and Technology segment serves communications, media, high-tech, and software and platform companies through acceleration and delivery of digital transformation, development of comprehensive and industry-specific solutions, and enhance efficiency and business results.

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