Stock Analysis:Accenture PLC (NYSE:ACN) Stock Target Raised
In an analyst research report released by BMO Capital Markets on 11 December, Accenture PLC (NYSE:ACN) had its TP boosted to $105.00. The firm right now has a solid “Market Perform” rating on shares.
From a total of 22 analysts covering Accenture Plc (NYSE:ACN) stock, 13 rate it a ”Buy”, 0 a “Sell”, and 14 a ”Hold”. This means that 48% of the ratings are positive. The highest target price is $117 while the lowest target price is $90. The mean of all analyst targets is $107.64 with a 4.07% above today’s ($105.94) stock price. Accenture Plc was the topic of 9 analyst reports since August 12, 2015 according to the firm StockzIntelligence Inc. Cantor Fitzgerald initiated shares on October 16 with “Buy” rating. Argus Research upgraded ACN stock in a recent report from September 8 to “Buy” rating.
Approximately 1.88M shares of stock traded hands. Accenture Plc (NYSE:ACN) has risen 12.21% since May 8, 2015 and is uptrending. It has outperformed by 15.23% the S&P500.
Analysts await Accenture Plc (NYSE:ACN) to reports earnings on December, 17. They expect $1.31 EPS, up 1.55% or $0.02 from last year’s $1.29 per share. ACN’s profit will be $870.61 million for 20.22 P/E if the $1.31 EPS becomes reality. After $1.15 actual EPS reported by Accenture Plc for the previous quarter, Wall Street now forecasts 13.91% EPS growth.
The overall sentiment of institutions has increased to 0.95 in Q2 2015. Its up 0.04, from 0.91 in 2015Q2. The ratio improved, as 57 institutions have sold all the shares of Accenture Plc that they owned while 359 funds have taken shares off the table. 78 funds have purchased shares for the first time while 319 added to their positions. These institutions now hold 454.57 million shares or 0.21% more than the 453.63 million shares they owned in 2015Q2.
The Fund Sloane Robinson Llp currently is holding shares equating to 25.61% of its total portfolio in Accenture Plc representing a total of 232,800 shares. Another fund,Csu Producer Resources Inc., is holding a total of 20,000 shares equating to 17.18% of their holdings. Additionally, Praesidium Investment Management Company Llc has a 1.67 million share stake in Accenture Plc which represents 15.26% of their total portfolio. The Fund, Independent Franchise Partners Llp, based out of United Kingdom, has also built up a stake in the stock, which represents a total of 7.7% of their total portfolio. Finally Peregrine Asset Advisers Inc., a fund which is based in the state of Oregon reported a total holdings of 72,689 shares.
Accenture plc is engaged in providing management consulting, technology and outsourcing services. The company has a market cap of $70.41 billion. The Company’s business is structured around five operating groups, which together consists of 19 industry groups serving clients in industries globally. It has 22.25 P/E ratio. The Company’s segment includes Communications, Media & Technology, Financial Services, Health & Public Service, Products and Resources.
According to Zacks Investment Research, “Accenture Plc is a management consulting, technology services and outsourcing organization. The Company’s business is structured around five operating groups, namely, Communications & High Tech, Financial Services, Products, Public Service and Resources. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. Accenture Plc is headquartered in New York.” Get a free copy of the Zacks research report on Accenture Plc (ACN).