Analysts at Berenberg Begin Coverage of Accenture (NYSE:ACN) with a “Buy” Rating. The Target Price is Set to $140.0

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Berenberg Analyst Rating Change Accenture NYSE:ACN

Accenture (NYSE:ACN) Price Target & New Coverage by Berenberg

Equity research analysts at Berenberg has started coverage on Accenture (NYSE:ACN) with “Buy” rating. The target price for ACN is exactly $140.0. It would suggest a potential upside of 19.03 % from firm’s previous close.

After the coverage NYSE:ACN is now trading 0.00% lower at $117.62 as of 04:02 New York time. Accenture’s stock is up 13.01% over the past 200 days. It has outperformed the Standard & Poor’s 500 index, which has gained 4.02% over the same time period.

According to data compiled by Thomson Reuters, Accenture (NYSE:ACN)’s stock is covered by 23 equity analysts across the Street, with 0 analysts giving it a Sell rating, 16 a Buy rating, while 13 consider it a Hold. The 12-month consensus target price for the stock is $123.24, which reflects an upside potential of 4.78% over the current price.

NYSE:ACN Price Chart & Trend

The stock price of Accenture risen 13.01% over the last 200 days, and is in strong up trend. In the last 50 and 100 days, Accenture is up 4.25% and up 0.99%, respectively. Our stocks momentum model is shown on the price chart below. Analysts at Berenberg Begin Coverage of Accenture (NYSE:ACN) with a "Buy" Rating. The Target Price is Set to $140.0

Source: RightEdge Systems, Yahoo Split & Dividend Adjusted Data and OctaFinance Trading Models

Institutional Ownership

Sloane Robinson Llp had the biggest stake with ownership of 305,400 shares as of Q2 2015 for 29.07% of the US equity exposure. Csu Producer Resources Inc. is another bull as the investment professional who is having 20,000 shares of Accenture or 15.51% of their US equity exposure. In addition, Praesidium Investment Management Company Llc have 14.48% of their US equity exposure invested in the company for 1.77M shares. The United Kingdom-based fund Independent Franchise Partners Llp revealed it had purchased a stake worth about 7.84% of the investment professional’s stock portfolio in Accenture. The Wisconsin-based fund Provident Trust Co is also positive about the stock, possessing 6.87M shares or 6.99% of their US equity exposure.

Accenture (NYSE:ACN) Profile

Accenture LTDAccenture 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.

Accenture (NYSE:ACN) closed at $117.62 yesterday. A total of 179,429 shares of the company’s stock traded hands. This is down from average of 2.80M shares. Accenture has a 52 week low of $91.40 and a 52 week high of $124.96. The company has a market cap of $76.96B and a P/E ratio of 18.45.

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