Stock Analysis:Accenture PLC (NYSE:ACN) Target Upped
In a note issued to investors and clients by Goldman Sachs on Friday, 18 December, Accenture PLC (NYSE:ACN) had its target raised to $116.00. The firm now has a solid “Neutral” rating on shares.
From a total of 22 analysts covering Accenture Plc (NYSE:ACN) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $125 while the lowest target price is $98. The mean of all analyst targets is $110.68 with a 8.41% above today’s ($101.93) stock price. Accenture Plc was the topic of 10 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.
The stock decreased 1.28% or $1.32 during the last trading session, striking $101.93. Approximately 5.44M shares of stock traded hands or 115.87% up from the average. Accenture Plc (NYSE:ACN) has risen 6.43% since May 15, 2015 and is uptrending. It has outperformed by 10.24% the S&P500.
The overall sentiment of institutions has increased to 0.95 in Q2 2015. Its up 0.04, from 0.91 in 2015Q2. The ratio is positive, 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 $67.36 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 21.41 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.”