BMO Capital Markets Increases Accenture (NYSE:ACN) Price Target to $215.00

Accenture (NYSE:ACN) had its target price lifted by BMO Capital Markets from $188.00 to $215.00 in a research report sent to investors on Friday, The Fly reports. BMO Capital Markets currently has a market perform rating on the information technology services provider’s stock. The analysts noted that the move was a valuation call.

Several other brokerages also recently commented on ACN. Societe Generale raised Accenture to a buy rating and set a $205.00 target price for the company in a report on Friday, March 27th. Deutsche Bank upped their target price on Accenture from $215.00 to $245.00 and gave the company a buy rating in a report on Friday. Cowen upped their target price on Accenture from $175.00 to $210.00 and gave the company an outperform rating in a report on Friday, June 19th. JPMorgan Chase & Co. reduced their target price on Accenture from $227.00 to $188.00 and set an overweight rating for the company in a report on Tuesday, March 17th. Finally, Bank of America increased 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 equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $219.44.

NYSE:ACN opened at $212.72 on Friday. Accenture has a 1 year low of $137.15 and a 1 year high of $217.89. The stock has a market cap of $134.08 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 2.78 and a beta of 1.06. The business has a fifty day moving average of $199.62 and a 200-day moving average of $193.06. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.38 and a current ratio of 1.38.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, June 25th. The information technology services provider reported $1.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $10.89 billion. During the same quarter in the prior year, the business posted $1.93 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, equities research analysts predict that Accenture will post 7.63 EPS for the current year.

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

In other news, General Counsel Joel Unruch sold 855 shares of Accenture stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $175.18, for a total transaction of $149,778.90. Following the sale, the general counsel now owns 24,689 shares of the company’s stock, valued at approximately $4,325,019.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kathleen R. Mcclure sold 1,125 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 $208,125.00. Following the sale, the chief financial officer now directly owns 23,085 shares in the company, valued at approximately $4,270,725. The disclosure for this sale can be found here. Insiders have sold a total of 23,221 shares of company stock worth $4,169,477 in the last three months. 0.10% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the stock. Financial Advisors Network Inc. lifted its position in shares of Accenture by 0.7% during the 4th quarter. Financial Advisors Network Inc. now owns 7,681 shares of the information technology services provider’s stock worth $1,617,000 after buying an additional 50 shares during the period. Grove Bank & Trust raised its position in Accenture by 1.2% in the 4th quarter. Grove Bank & Trust now owns 5,073 shares of the information technology services provider’s stock valued at $1,068,000 after purchasing an additional 60 shares during the last quarter. GHP Investment Advisors Inc. raised its position in Accenture by 0.4% in the 1st quarter. GHP Investment Advisors Inc. now owns 13,824 shares of the information technology services provider’s stock valued at $2,257,000 after purchasing an additional 60 shares during the last quarter. Fortis Advisors LLC raised its position in Accenture by 29.5% in the 1st quarter. Fortis Advisors LLC now owns 272 shares of the information technology services provider’s stock valued at $44,000 after purchasing an additional 62 shares during the last quarter. Finally, Burt Wealth Advisors raised its position in Accenture by 10.5% in the 1st quarter. Burt Wealth Advisors now owns 663 shares of the information technology services provider’s stock valued at $108,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 73.64% 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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