Notable Reporting: What Will Happen to Accenture Plc Next? The Stock Just Reaches All-Time High

Notable Reporting: What Will Happen to Accenture Plc Next? The Stock Just Reaches All Time High

The stock of Accenture Plc (NYSE:ACN) reached all time high today, Sep, 30 and still has $181.61 target or 48.00% above today’s $122.71 share price. This indicates more upside for the $83.26B company. This technical setup was reported by If the $181.61 PT is reached, the company will be worth $39.96 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 562,301 shares traded hands. Accenture Plc (NYSE:ACN) has risen 20.29% since February 26, 2016 and is uptrending. It has outperformed by 9.87% the S&P500.

Accenture Plc (NYSE:ACN) Ratings Coverage

Out of 17 analysts covering Accenture Plc (NYSE:ACN), 10 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 59% are positive. Accenture Plc has been the topic of 28 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The stock of Accenture Plc (NYSE:ACN) earned “Buy” rating by Cantor Fitzgerald on Friday, October 16. The firm has “Overweight” rating given on Tuesday, July 12 by Pacific Crest. On Friday, May 20 the stock rating was maintained by Stifel Nicolaus with “Buy”. On Monday, March 28 the stock rating was maintained by Citigroup with “Neutral”. The company was downgraded on Friday, June 24 by Credit Suisse. The stock of Accenture Plc (NYSE:ACN) has “Outperform” rating given on Friday, February 19 by Cowen & Co. The stock of Accenture Plc (NYSE:ACN) earned “Buy” rating by Societe Generale on Monday, September 26. Barclays Capital maintained Accenture Plc (NYSE:ACN) rating on Thursday, July 7. Barclays Capital has “Equalweight” rating and $112 price target. Citigroup maintained it with “Neutral” rating and $116 target price in Wednesday, September 28 report. The rating was upgraded by Argus Research on Tuesday, September 8 to “Buy”.

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.”

Insitutional Activity: The institutional sentiment decreased to 0.79 in 2016 Q2. Its down 0.10, from 0.89 in 2016Q1. The ratio dived, as 49 funds sold all Accenture Plc shares owned while 392 reduced positions. 49 funds bought stakes while 298 increased positions. They now own 430.38 million shares or 1.76% less from 438.10 million shares in 2016Q1.

Csu Producer Resources Inc. holds 14.3% of its portfolio in Accenture Plc for 20,000 shares. Sloane Robinson Llp owns 107,000 shares or 10.54% of their US portfolio. Moreover, Praesidium Investment Management Company Llc has 8.57% invested in the company for 867,002 shares. The Florida-based Suncoast Equity Management has invested 8.14% in the stock. Provident Trust Co, a Wisconsin-based fund reported 1.23 million shares.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Leave a Comment