Credit Suisse Downgrades Accenture Plc to Neutral

Brokerage firm Credit Suisse Downgrades its rating on Accenture Plc(NYSE:ACN). The shares have been rated Neutral. Previously, the analysts had a Outperform rating on the shares. The rating by Credit Suisse was issued on Jun 24, 2016.

In a different note, On May 31, 2016, Cowen & Company said it Maintains its rating on Accenture Plc. In the research note, the firm Raises the price-target to $118.00 per share. The shares have been rated ‘Outperform’ by the firm. On Mar 28, 2016, Citigroup said it Maintains its rating on Accenture Plc. In the research note, the firm Raises the price-target to $109.00 per share. The shares have been rated ‘Neutral’ by the firm. On Mar 28, 2016, JP Morgan said it Maintains its rating on Accenture Plc. In the research note, the firm Raises the price-target to $118.00 per share. The shares have been rated ‘Overweight’ by the firm. On Mar 28, 2016, Barclays said it Maintains its rating on Accenture Plc. In the research note, the firm Raises the price-target to $106.00 per share. The shares have been rated ‘Equalweight’ by the firm.

Accenture Plc (ACN) made into the market gainers list on Wednesdays trading session with the shares advancing 1.09% or 1.2 points. Due to strong positive momentum, the stock ended at $111.76, which is also near the day’s high of $112.02. The stock began the session at $111.67 and the volume stood at 36,03,021 shares. The 52-week high of the shares is $120.78 and the 52 week low is $88.43. The company has a current market capitalization of $93,559 M and it has 83,71,44,840 shares in outstanding.

Accenture Plc(ACN) last announced its earnings results on Jun 23, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $8.44B. Analysts had an estimated revenue of $8.34B. Earnings per share were $1.41. Analysts had estimated an EPS of $1.41.

Several Insider Transactions has been reported to the SEC. On May 13, 2016, Richard Lumb (Group Chief Executive-Fin Serv) sold 2,500 shares at $116.45 per share price.Also, 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.

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