Accenture PLC (NYSE:ACN)‘s stock had its “buy” rating reiterated by equities research analysts at Citigroup Inc. in a research note issued to investors on Wednesday, AR Network reports. They currently have a $86.00 target price on the stock, up from their previous target price of $84.50. Citigroup Inc.’s target price indicates a potential upside of 14.45% from the company’s current price.
The analysts wrote, “ACN reports 4Q13 results after the close on Sep 26th – we look for a good quarter but also expect FY14 guidance to be mixed relative to expectations. We retain our Buy rating while acknowledging that sentiment is split down the middle in this stock – the bearish view fears the impact of the ongoing ERP slowdown / SaaS mainstream adoption while the bullish view expects a positive inflection in the growth rate, off a beaten-down base. Our Buy rating is based on our belief that there are enough positive factors to offset the impact of the ERP slowdown – we look for outsourcing to pick up some of the slack this year and believe ACN will continue to deliver on the margin and cash-return front.”
Several other analysts have also recently commented on the stock. Analysts at Robert W. Baird reiterated a “buy” rating on shares of Accenture PLC (NYSE:ACN) in a research note to investors on Monday. They now have a $86.00 price target on the stock. Separately, analysts at UBS AG raised their price target on shares of Accenture PLC (NYSE:ACN) from $77.00 to $80.00 in a research note to investors on Monday. They now have a “neutral” rating on the stock. Finally, analysts at Susquehanna cut their price target on shares of Accenture PLC (NYSE:ACN) from $88.00 to $85.00 in a research note to investors on Wednesday, August 28th. They now have a “positive” rating on the stock.
One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $79.32.
Accenture PLC (NYSE:ACN) traded up 1.28% during mid-day trading on Wednesday, hitting $76.10. The stock had a trading volume of 1,233,325 shares. Accenture PLC has a 52 week low of $64.14 and a 52 week high of $84.22. The stock has a 50-day moving average of $73.81 and a 200-day moving average of $76.7. The company has a market cap of $49.073 billion and a price-to-earnings ratio of 16.83.
Accenture PLC (NYSE:ACN) last issued its quarterly earnings data on Thursday, June 27th. The company reported $1.14 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.13 by $0.01. The company had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. Analysts expect that Accenture PLC will post $4.20 EPS for the current fiscal year.
Accenture plc (NYSE:ACN) is engaged in providing management consulting, technology and outsourcing services.
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