Accenture (NYSE:ACN) Sets New 52-Week Low Following Analyst Downgrade

Accenture plc (NYSE:ACNGet Rating)’s stock price hit a new 52-week low on Friday after Susquehanna Bancshares lowered their price target on the stock from $460.00 to $360.00. The stock traded as low as $257.55 and last traded at $257.61, with a volume of 11210 shares changing hands. The stock had previously closed at $262.32.

Other equities analysts have also issued research reports about the stock. Robert W. Baird lifted their price target on shares of Accenture from $310.00 to $338.00 and gave the company a “neutral” rating in a research report on Tuesday, August 9th. Deutsche Bank Aktiengesellschaft lowered their price target on Accenture from $364.00 to $320.00 in a research note on Friday. Susquehanna reduced their price target on Accenture from $460.00 to $360.00 in a research report on Friday. Citigroup cut their price target on Accenture from $315.00 to $305.00 in a report on Friday. Finally, 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 report on Friday, June 17th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Accenture currently has an average rating of “Moderate Buy” and an average target price of $345.80.

Insider Activity at Accenture

In other news, CEO Julie Spellman Sweet sold 3,278 shares of the firm’s stock in a transaction dated Friday, July 15th. The shares were 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 in the company, valued at approximately $4,599,849.54. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $270.93, for a total value of $1,693,312.50. Following the transaction, the insider now directly owns 159,630 shares of the company’s stock, valued at $43,248,555.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Julie Spellman Sweet sold 3,278 shares of Accenture 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 completion of the transaction, the chief executive officer now directly owns 16,978 shares in the company, valued at $4,599,849.54. The disclosure for this sale can be found here. In the last three months, insiders sold 11,389 shares of company stock valued at $3,132,777. Corporate insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On Accenture

A number of institutional investors have recently modified their holdings of the company. Citizens National Bank Trust Department acquired a new position in Accenture during the 4th quarter worth about $31,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in Accenture during the 1st quarter worth approximately $26,000. Ulland Investment Advisors LLC acquired a new stake in Accenture during the 1st quarter worth approximately $29,000. Delos Wealth Advisors LLC acquired a new stake in shares of Accenture in the fourth quarter valued at approximately $39,000. Finally, Schubert & Co grew its stake in shares of Accenture by 71.6% in the second quarter. Schubert & Co now owns 115 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 48 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

Accenture Price Performance

The firm’s 50 day moving average is $294.97 and its two-hundred day moving average is $299.75. The firm has a market capitalization of $163.34 billion, a P/E ratio of 24.99, a PEG ratio of 2.24 and a beta of 1.22.

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

Accenture Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Thursday, October 13th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.73%. This is a boost from Accenture’s previous quarterly dividend of $0.97. Accenture’s payout ratio is presently 37.63%.

Accenture Company Profile

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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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