Wells Fargo & Co Increases Accenture (NYSE:ACN) Price Target to $230.00

Accenture (NYSE:ACN) had its price target upped by equities researchers at Wells Fargo & Co from $225.00 to $230.00 in a report issued on Thursday, January 9th, BenzingaRatingsTable reports. The brokerage currently has an “outperform” rating on the information technology services provider’s stock. Wells Fargo & Co‘s price objective would indicate a potential upside of 10.42% from the stock’s previous close.

ACN has been the subject of a number of other reports. Barclays started coverage on shares of Accenture in a report on Friday, September 20th. They set an “overweight” rating and a $228.00 price target for the company. Redburn Partners began coverage on Accenture in a report on Monday, September 23rd. They issued a “buy” rating and a $227.00 target price on the stock. BMO Capital Markets reiterated a “market perform” rating and set a $220.00 price target on shares of Accenture in a report on Friday, December 20th. Bank of America lowered shares of Accenture from a “neutral” rating to an “underperform” rating and set a $205.00 target price on the stock. in a research report on Tuesday, January 7th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. increased their price target on shares of Accenture from $216.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $212.18.

Shares of ACN traded up $1.04 during mid-day trading on Thursday, hitting $208.30. The company had a trading volume of 15,750 shares, compared to its average volume of 2,032,784. The business’s 50-day simple moving average is $206.43 and its 200-day simple moving average is $195.49. The stock has a market cap of $132.05 billion, a PE ratio of 28.31, a P/E/G ratio of 2.57 and a beta of 1.05. Accenture has a 1-year low of $147.24 and a 1-year high of $213.25. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, December 19th. The information technology services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $1.99 by $0.10. The company had revenue of $11.36 billion during the quarter, compared to analyst estimates of $11.15 billion. Accenture had a return on equity of 33.35% and a net margin of 11.06%. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.96 EPS. On average, sell-side analysts expect that Accenture will post 7.82 earnings per share for the current year.

In other news, insider Daniel T. London sold 5,421 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $185.69, for a total value of $1,006,625.49. Following the sale, the insider now directly owns 31,698 shares of the company’s stock, valued at $5,886,001.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ellyn Shook sold 4,688 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $183.65, for a total transaction of $860,951.20. Following the transaction, the insider now directly owns 27,271 shares of the company’s stock, valued at approximately $5,008,319.15. The disclosure for this sale can be found here. Insiders have sold a total of 37,014 shares of company stock worth $6,859,750 over the last 90 days. 0.10% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of ACN. Nuveen Asset Management LLC grew its stake in shares of Accenture by 32,251.5% during the second quarter. Nuveen Asset Management LLC now owns 5,585,165 shares of the information technology services provider’s stock valued at $1,031,971,000 after buying an additional 5,567,901 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Accenture by 1.7% during the second quarter. Vanguard Group Inc. now owns 55,373,798 shares of the information technology services provider’s stock valued at $10,231,417,000 after purchasing an additional 909,318 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Accenture by 5.3% during the second quarter. Morgan Stanley now owns 10,736,302 shares of the information technology services provider’s stock valued at $1,983,748,000 after purchasing an additional 536,568 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Accenture by 39.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,428,158 shares of the information technology services provider’s stock valued at $274,705,000 after purchasing an additional 402,106 shares during the last quarter. Finally, WCM Investment Management LLC lifted its holdings in shares of Accenture by 6.3% during the third quarter. WCM Investment Management LLC now owns 6,698,914 shares of the information technology services provider’s stock valued at $1,288,536,000 after purchasing an additional 395,849 shares during the last quarter. Institutional investors own 73.65% of the company’s stock.

About Accenture

Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.

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