Accenture (NYSE:ACN) PT Raised to $247.00 at Citigroup

Accenture (NYSE:ACN) had its price target boosted by Citigroup from $230.00 to $247.00 in a report released on Friday, The Fly reports. Citigroup currently has a buy rating on the information technology services provider’s stock.

Several other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. dropped their target price on Accenture from $227.00 to $188.00 and set an overweight rating on the stock in a research report on Tuesday, March 17th. UBS Group raised their price objective on Accenture from $160.00 to $215.00 and gave the stock a neutral rating in a research note on Friday. Wells Fargo & Co downgraded Accenture from an overweight rating to an equal weight rating and raised their price objective for the stock from $190.00 to $200.00 in a research note on Thursday, June 18th. They noted that the move was a valuation call. Societe Generale raised Accenture to a buy rating and set a $205.00 price objective on the stock in a research note on Friday, March 27th. Finally, Bank of America raised their price objective on Accenture from $154.00 to $182.00 and gave the stock an underperform rating in a research note on Thursday, June 18th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company’s stock. Accenture has a consensus rating of Buy and an average target price of $219.44.

Accenture stock opened at $212.72 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.38 and a quick ratio of 1.38. Accenture has a one year low of $137.15 and a one year high of $217.89. The stock has a market capitalization of $134.08 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 2.78 and a beta of 1.06. The business’s fifty day moving average is $199.62 and its 200 day moving average is $193.06.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, June 25th. The information technology services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. Accenture had a return on equity of 32.04% and a net margin of 11.11%. The company had revenue of $10.99 billion for the quarter, compared to analysts’ expectations of $10.89 billion. During the same period last year, the firm posted $1.93 earnings per share. Accenture’s revenue was down 1.0% compared to the same quarter last year. As a group, sell-side analysts expect that Accenture will post 7.63 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Thursday, July 16th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Wednesday, July 15th. Accenture’s payout ratio is 43.48%.

In other news, insider Ellyn Shook sold 1,251 shares of Accenture stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $185.00, for a total value of $231,435.00. Following the completion of the transaction, the insider now owns 23,927 shares in the company, valued at approximately $4,426,495. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman David Rowland sold 5,405 shares of Accenture stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $185.00, for a total value of $999,925.00. Following the completion of the transaction, the chairman now owns 17,199 shares of the company’s stock, valued at approximately $3,181,815. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,221 shares of company stock worth $4,169,477. Corporate insiders own 0.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Total Clarity Wealth Management Inc. purchased a new position in shares of Accenture in the 4th quarter worth approximately $26,000. Islay Capital Management LLC purchased a new position in shares of Accenture in the 4th quarter worth approximately $31,000. Mark Sheptoff Financial Planning LLC boosted its holdings in shares of Accenture by 200.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 150 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 100 shares during the period. FSA Wealth Management LLC purchased a new position in shares of Accenture in the 4th quarter worth approximately $34,000. Finally, HHM Wealth Advisors LLC purchased a new position in shares of Accenture in the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 73.64% of the company’s stock.

Accenture Company Profile

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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