Investors Buy Shares of Accenture (ACN) on Weakness

Traders bought shares of Accenture Plc (NYSE:ACN) on weakness during trading hours on Friday. $106.52 million flowed into the stock on the tick-up and $58.93 million flowed out of the stock on the tick-down, for a money net flow of $47.59 million into the stock. Of all equities tracked, Accenture had the 26th highest net in-flow for the day. Accenture traded down ($0.79) for the day and closed at $146.23

A number of research firms recently commented on ACN. Zacks Investment Research lowered Accenture from a “hold” rating to a “sell” rating in a research note on Wednesday, November 28th. ValuEngine lowered Accenture from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Bank of America raised Accenture from a “neutral” rating to a “buy” rating and set a $143.07 price target on the stock in a research note on Tuesday. They noted that the move was a valuation call. SunTrust Banks set a $157.00 price target on Accenture and gave the stock a “hold” rating in a research note on Wednesday, January 2nd. Finally, Wells Fargo & Co set a $165.00 price target on Accenture and gave the stock a “buy” rating in a research note on Thursday, December 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. Accenture has a consensus rating of “Buy” and an average price target of $173.55.

The company has a market cap of $96.89 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 1.96 and a beta of 1.10.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, December 20th. The information technology services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.84 by $0.12. The business had revenue of $10.61 billion for the quarter, compared to the consensus estimate of $10.54 billion. Accenture had a return on equity of 40.31% and a net margin of 9.99%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the business posted $1.79 EPS. As a group, research analysts expect that Accenture Plc will post 7.2 EPS for the current fiscal year.

In other Accenture news, insider Richard Lumb sold 2,000 shares of Accenture stock in a transaction that occurred on Tuesday, October 16th. The stock was sold at an average price of $160.63, for a total transaction of $321,260.00. Following the sale, the insider now directly owns 117,683 shares in the company, valued at approximately $18,903,420.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider ‘T Noordende Alexander M. Van sold 8,000 shares of Accenture stock in a transaction that occurred on Monday, October 22nd. The stock was sold at an average price of $159.64, for a total value of $1,277,120.00. Following the sale, the insider now owns 124,328 shares in the company, valued at $19,847,721.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,152 shares of company stock worth $13,318,994. Company insiders own 0.18% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Accenture by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 53,259,800 shares of the information technology services provider’s stock worth $9,064,818,000 after purchasing an additional 770,904 shares during the last quarter. Vanguard Group Inc increased its holdings in shares of Accenture by 1.5% in the 3rd quarter. Vanguard Group Inc now owns 53,259,800 shares of the information technology services provider’s stock valued at $9,064,818,000 after acquiring an additional 770,904 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Accenture by 115,500.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 10,222,554 shares of the information technology services provider’s stock valued at $1,739,880,000 after acquiring an additional 10,213,711 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Accenture by 2.6% in the 2nd quarter. Northern Trust Corp now owns 9,808,588 shares of the information technology services provider’s stock valued at $1,604,587,000 after acquiring an additional 246,828 shares during the last quarter. Finally, WCM Investment Management CA increased its holdings in shares of Accenture by 3.7% in the 3rd quarter. WCM Investment Management CA now owns 5,905,897 shares of the information technology services provider’s stock valued at $1,005,184,000 after acquiring an additional 212,432 shares during the last quarter. Institutional investors own 70.46% of the company’s stock.

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Accenture Company Profile (NYSE:ACN)

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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