Accenture Plc (ACN) is Downgraded by Credit Suisse to Neutral

Accenture Plc (ACN) was Downgraded by Credit Suisse to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Credit Suisse advised their investors in a research report released on Jun 24, 2016.

Many Wall Street Analysts have commented on Accenture Plc. Company shares were Reiterated by Stifel on May 20, 2016 to “Buy”, Firm has raised the Price Target to $ 128 from a previous price target of $116 .Company shares were Reiterated by UBS on Mar 28, 2016 to “Neutral”, Firm has raised the Price Target to $ 115 from a previous price target of $109 .

On the company’s financial health, Accenture Plc reported $1.41 EPS for the quarter, based on the information available during the earnings call on Jun 23, 2016. Analyst had a consensus estimate of $1.41. The company had revenue of $8434.80 million for the quarter, compared to analysts expectations of $8288.50 million. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 EPS.

Accenture Plc opened for trading at $119.61 and hit $119.84 on the upside on Tuesday, eventually ending the session at $119.43, with a gain of 0.32% or 0.38 points. The heightened volatility saw the trading volume jump to 20,40,394 shares. Company has a market cap of $77,225 M.

In a different news, on May 13, 2016, Richard Lumb (Group Chief Executive-Fin Serv) sold 2,500 shares at $116.45 per share price. According to the SEC, on Apr 11, 2016, Marjorie Magner (director) sold 3,000 shares at $112.49 per share price. On Apr 7, 2016, Daniel T London (Grp Chief Exec-Health & PS) sold 5,363 shares at $114.46 per share price, according to the Form-4 filing with the securities and exchange commission.

Accenture plc is engaged in providing management consulting technology and outsourcing services. The Company’s business is structured around five operating groups which together consists of 19 industry groups serving clients in industries globally. The Company’s segment includes Communications Media & Technology Financial Services Health & Public Service Products and Resources. The Communications Media & Technology segment serves the communications electronics technology media and entertainment industries. The Financial Services segment serves the banking capital markets and insurance industries. The Health & Public Service segment serves healthcare payers and providers government departments public service organizations educational institutions and non-profit organizations. The Products segment serves consumer-relevant industries. The Resources segment serves the chemicals energy forest products metals and mining utilities and related industries.

Accenture Plc

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