What’s Accenture Plc Upside After Today’s Bullish Options Activity?

 What's Accenture Plc Upside After Today's Bullish Options Activity?

In today’s session Accenture Plc (ACN) registered an unusually high (245) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious ACN increase. With 245 contracts traded and 10154 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: ACN161118C00115000 closed last at: $4.1 or 10.8% up. About 1.27 million shares traded hands. Accenture Plc (NYSE:ACN) has risen 11.22% since March 14, 2016 and is uptrending. It has outperformed by 5.61% the S&P500.

Accenture Plc (NYSE:ACN) Ratings Coverage

Out of 18 analysts covering Accenture Plc (NYSE:ACN), 11 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 61% are positive. Accenture Plc has been the topic of 31 analyst reports since August 12, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained Accenture Plc (NYSE:ACN) rating on Friday, December 18. RBC Capital Markets has “Outperform” rating and $121 price target. The company was maintained on Monday, October 3 by Cantor Fitzgerald. The rating was maintained by Stifel Nicolaus on Friday, May 20 with “Buy”. As per Friday, September 30, the company rating was maintained by Barclays Capital. Credit Suisse downgraded it to “Neutral” rating and $120 target price in Friday, June 24 report. The stock of Accenture Plc (NYSE:ACN) has “Overweight” rating given on Tuesday, July 12 by Pacific Crest. Cowen & Co maintained Accenture Plc (NYSE:ACN) rating on Tuesday, May 31. Cowen & Co has “Outperform” rating and $130 price target. Societe Generale upgraded the shares of ACN in a report on Monday, September 26 to “Buy” rating. The firm has “Equalweight” rating given on Thursday, July 7 by Barclays Capital. As per Wednesday, September 28, the company rating was maintained by Citigroup.

According to Zacks Investment Research, “Accenture Plc is a management consulting, technology services and outsourcing organization. The Company’s business is structured around five operating groups, namely, Communications & High Tech, Financial Services, Products, Public Service and Resources. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. Accenture Plc is headquartered in New York.”

Insitutional Activity: The institutional sentiment decreased to 0.79 in Q2 2016. Its down 0.10, from 0.89 in 2016Q1. The ratio dived, as 49 funds sold all Accenture Plc shares owned while 392 reduced positions. 49 funds bought stakes while 298 increased positions. They now own 430.38 million shares or 1.76% less from 438.10 million shares in 2016Q1.
The Kentucky-based Stock Yards Comml Bank & Tru has invested 0.82% in Accenture Plc (NYSE:ACN). Citizens And Northern Corporation owns 6,598 shares or 0.58% of their US portfolio. Clearbridge Invests Ltd Limited Liability Company reported 206,614 shares or 0.03% of all its holdings. Daiwa Securities Gru Incorporated last reported 128,513 shares in the company. First Houston Cap Inc accumulated 31,250 shares or 3.27% of the stock. Dorsey Whitney Trust Company Lc has invested 0.09% of its portfolio in Accenture Plc (NYSE:ACN). Callahan Advsr Ltd Liability Com accumulated 33,284 shares or 0.99% of the stock. Moreover, Stonebridge Capital Advisors Ltd Llc has 0.24% invested in Accenture Plc (NYSE:ACN) for 6,265 shares. Moreover, First has 0.26% invested in Accenture Plc (NYSE:ACN) for 14,890 shares. Trust Of Toledo Na Oh accumulated 1,900 shares or 0.06% of the stock. Matterhorn Capital Mngmt Ltd Liability Co holds 4.09% of its portfolio in Accenture Plc (NYSE:ACN) for 56,860 shares. Weaver C Barksdale & Associates has invested 1.33% of its portfolio in Accenture Plc (NYSE:ACN). Huntington Fincl Bank has 0.42% invested in the company for 181,745 shares. Oak Associates Limited Oh accumulated 0.57% or 42,097 shares. Price T Rowe Assoc Md has 0.07% invested in the company for 3.08M shares.

Accenture plc is engaged in providing management consulting, technology and outsourcing services. The company has a market cap of $76.23 billion. The Company’s business is structured around five operating groups, which together consists of 19 industry groups serving clients in industries globally. It has a 18.35 P/E ratio. The Company’s segment includes Communications, Media & Technology, Financial Services, Health & Public Service, Products and Resources.

ACN Company Profile

Accenture plc (Accenture), incorporated on June 10, 2009, 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. In June 2014, it acquired PureApps. In June 2014, Accenture PLC completed the acquisition of Enkitec, Oracle Platinum partner and Oracle database administration and development. In September 2014, the Company acquired Hytracc Consulting.

More notable recent Accenture Plc (NYSE:ACN) news were published by: Fool.com which released: “Market Share Gains Help Drive Accenture Plc Earnings Higher” on September 30, 2016, also Investorplace.com with their article: “3 Reasons Momentum Investors Will Love Accenture Plc (ACN)” published on October 13, 2016, Investorplace.com published: “Accenture Plc (ACN) Gets an Upgrade, But It’s Not a Buy” on October 04, 2016. More interesting news about Accenture Plc (NYSE:ACN) were released by: Gurufocus.com and their article: “Accenture Plc (ACN) Chairman & CEO Pierre Nanterme Sold $5.’ million of Shares” published on October 06, 2016 as well as Schaeffersresearch.com‘s news article titled: “Earnings Roundup: Accenture Plc, ConAgra Foods Inc, and PepsiCo, Inc.” with publication date: September 29, 2016.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Related posts

Leave a Comment