Accenture (NYSE:ACN) Given New $360.00 Price Target at Susquehanna Bancshares

Accenture (NYSE:ACNGet Rating) had its target price dropped by Susquehanna Bancshares from $460.00 to $360.00 in a research note issued on Friday, Stock Target Advisor reports. Susquehanna Bancshares’ price target points to a potential upside of 37.24% from the company’s current price.

Several other equities analysts have also issued reports on ACN. Bank of America decreased their price target on Accenture from $443.00 to $374.00 and set a “buy” rating on the stock in a research note on Friday, June 17th. BMO Capital Markets decreased their price target on Accenture from $337.00 to $315.00 and set a “market perform” rating on the stock in a research note on Wednesday. Royal Bank of Canada decreased their price target on Accenture from $357.00 to $335.00 in a research note on Friday. Exane BNP Paribas lowered Accenture from an “outperform” rating to a “neutral” rating in a research note on Wednesday, June 29th. Finally, Cowen decreased their price target on Accenture from $330.00 to $325.00 and set an “outperform” rating on the stock in a research note on Friday, June 24th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $345.80.

Accenture Price Performance

Shares of NYSE ACN opened at $262.32 on Friday. The stock has a market capitalization of $165.93 billion, a PE ratio of 25.44, a P/E/G ratio of 2.24 and a beta of 1.22. The business has a fifty day moving average price of $294.97 and a two-hundred day moving average price of $299.75. Accenture has a fifty-two week low of $261.77 and a fifty-two week high of $417.37.

Accenture (NYSE:ACNGet Rating) last announced its quarterly earnings data on Thursday, September 22nd. The information technology services provider reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.03. The firm had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $15.41 billion. Accenture had a return on equity of 31.50% and a net margin of 11.13%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.20 EPS. On average, equities analysts expect that Accenture will post 10.69 EPS for the current year.

Insider Activity

In other news, CEO Julie Spellman Sweet sold 3,278 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $270.93, for a total value of $888,108.54. Following the transaction, the chief executive officer now directly owns 16,978 shares of the company’s stock, valued at approximately $4,599,849.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Julie Spellman Sweet sold 3,278 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $270.93, for a total transaction of $888,108.54. Following the transaction, the chief executive officer now directly owns 16,978 shares of the company’s stock, valued at approximately $4,599,849.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Joel Unruch sold 556 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $287.51, for a total value of $159,855.56. Following the transaction, the general counsel now directly owns 26,156 shares in the company, valued at $7,520,111.56. The disclosure for this sale can be found here. Insiders have sold 11,389 shares of company stock valued at $3,132,777 in the last ninety days. 0.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. LPL Financial LLC raised its stake in shares of Accenture by 8.2% in the fourth quarter. LPL Financial LLC now owns 177,850 shares of the information technology services provider’s stock worth $73,728,000 after purchasing an additional 13,507 shares during the last quarter. Altavista Wealth Management Inc. raised its stake in shares of Accenture by 2.1% in the fourth quarter. Altavista Wealth Management Inc. now owns 12,247 shares of the information technology services provider’s stock worth $5,077,000 after purchasing an additional 247 shares during the last quarter. Avaii Wealth Management LLC purchased a new stake in shares of Accenture in the fourth quarter worth approximately $335,000. State Street Corp raised its stake in shares of Accenture by 3.2% in the fourth quarter. State Street Corp now owns 26,117,172 shares of the information technology services provider’s stock worth $10,826,880,000 after purchasing an additional 817,970 shares during the last quarter. Finally, Freestone Capital Holdings LLC raised its stake in shares of Accenture by 3.2% in the fourth quarter. Freestone Capital Holdings LLC now owns 53,476 shares of the information technology services provider’s stock worth $22,168,000 after purchasing an additional 1,662 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

About Accenture

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Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.

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