Could Accenture plc (ACN) Go Down After Making All Time High?

December 17, 2017 - By Marie Mckinney

Investors sentiment increased to 1.05 in Q2 2017. Its up 0.12, from 0.93 in 2017Q1. It improved, as 49 investors sold Accenture plc shares while 348 reduced holdings. 82 funds opened positions while 334 raised stakes. 466.45 million shares or 0.50% more from 464.13 million shares in 2017Q1 were reported.
Calamos Advsr Ltd Company holds 0.18% or 195,784 shares. Montag And Caldwell Ltd Llc holds 0.01% or 2,560 shares. Commonwealth Of Pennsylvania Pub School Empls Retrmt stated it has 0.13% of its portfolio in Accenture plc (NYSE:ACN). Bankshares Of Ny Mellon Corporation stated it has 11.93 million shares. Strs Ohio has invested 0.18% in Accenture plc (NYSE:ACN). Utah Retirement accumulated 113,617 shares or 0.33% of the stock. Tiedemann Wealth Ltd Liability reported 6,208 shares or 0.06% of all its holdings. Pecaut And Company holds 0.23% of its portfolio in Accenture plc (NYSE:ACN) for 2,200 shares. Leavell Investment Mgmt Inc owns 14,883 shares. Cincinnati Ins Co owns 674,165 shares or 2.59% of their US portfolio. Smith Moore owns 3,404 shares. Heritage Invsts Management Corporation stated it has 16,476 shares. First In reported 1,778 shares or 0.14% of all its holdings. Hsbc Public has 0.03% invested in Accenture plc (NYSE:ACN) for 120,595 shares. Park Natl Oh owns 39,781 shares for 0.29% of their portfolio.

The stock of Accenture plc (NYSE:ACN) reached all time high today, Dec, 17 and still has $157.24 target or 3.00 % above today’s $152.66 share price. This indicates more upside for the $93.84 billion company. This technical setup was reported by Barchart.com. If the $157.24 PT is reached, the company will be worth $2.82B 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.

The stock increased 0.96% or $1.45 during the last trading session, reaching $152.66. About 3.50M shares traded or 82.57% up from the average. Accenture plc (NYSE:ACN) has risen 4.27% since December 17, 2016 and is uptrending. It has underperformed by 12.43% the S&P500.

Analysts await Accenture plc (NYSE:ACN) to report earnings on December, 20. They expect $1.66 earnings per share, up 5.06 % or $0.08 from last year’s $1.58 per share. ACN’s profit will be $1.02 billion for 22.99 P/E if the $1.66 EPS becomes a reality. After $1.48 actual earnings per share reported by Accenture plc for the previous quarter, Wall Street now forecasts 12.16 % EPS growth.

Accenture plc (NYSE:ACN) Ratings Coverage

Among 26 analysts covering Accenture Plc (NYSE:ACN), 14 have Buy rating, 1 Sell and 11 Hold. Therefore 54% are positive. Accenture Plc has $165 highest and $11 lowest target. $130.56’s average target is -14.48% below currents $152.66 stock price. Accenture Plc had 73 analyst reports since August 12, 2015 according to SRatingsIntel. Argus Research upgraded the shares of ACN in report on Tuesday, September 8 to “Buy” rating. The stock has “Equalweight” rating by Barclays Capital on Monday, March 28. The company was maintained on Thursday, September 28 by Stifel Nicolaus. Cowen & Co maintained Accenture plc (NYSE:ACN) rating on Friday, July 28. Cowen & Co has “Buy” rating and $13500 target. KeyBanc Capital Markets maintained the stock with “Overweight” rating in Monday, November 20 report. Barclays Capital maintained it with “Equalweight” rating and $112 target in Thursday, July 7 report. The stock of Accenture plc (NYSE:ACN) earned “Hold” rating by Robert W. Baird on Friday, September 1. The firm has “Outperform” rating by Wedbush given on Friday, September 9. Citigroup maintained it with “Neutral” rating and $116 target in Wednesday, September 28 report. As per Thursday, September 28, the company rating was maintained by Robert W. Baird.

More important recent Accenture plc (NYSE:ACN) news were published by: Seekingalpha.com which released: “Accenture Could Still Be Undervalued, But Execution Risk Is High” on November 30, 2017, also Businesswire.com published article titled: “Accenture to Acquire Irish Creative Agency Rothco”, Streetinsider.com published: “Accenture (ACN): Earnings Preview – Deutsche Bank” on December 11, 2017. More interesting news about Accenture plc (NYSE:ACN) was released by: Seekingalpha.com and their article: “Stocks to watch next week” with publication date: December 16, 2017.

Accenture plc provides consulting, technology, and outsourcing services worldwide. The company has market cap of $93.84 billion. The Company’s Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions; and serves clients in communications, electronics, high technology, media, and entertainment industries. It has a 28.05 P/E ratio. The companyÂ’s Financial Services segment offers services that help clients enhance cost efficiency, grow their customer base, manage risk, and transform their operations; and serves clients in banking, capital markets, and insurance industries.

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