Accenture (NYSE:ACN) Price Target Cut to $320.00

Accenture (NYSE:ACNGet Free Report) had its price objective cut by investment analysts at Piper Sandler Companies from $379.00 to $320.00 in a report issued on Monday, Stock Target Advisor reports. The firm currently has a “neutral” rating on the information technology services provider’s stock. Piper Sandler Companies’ target price would indicate a potential upside of 12.15% from the company’s current price.

Several other analysts have also recently commented on the company. Jefferies Financial Group decreased their target price on Accenture from $340.00 to $275.00 and set a “hold” rating on the stock in a report on Wednesday, June 5th. TD Cowen decreased their target price on Accenture from $350.00 to $294.00 and set a “hold” rating on the stock in a report on Tuesday, June 11th. Redburn Atlantic upped their price target on Accenture from $410.00 to $445.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. BMO Capital Markets cut their price target on Accenture from $385.00 to $375.00 and set a “market perform” rating on the stock in a research note on Friday, March 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered Accenture from a “buy” rating to a “hold” rating and cut their price target for the company from $409.00 to $295.00 in a research note on Wednesday, May 15th. Ten investment analysts have rated the stock with a hold rating and thirteen 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 price target of $360.50.

Get Our Latest Stock Analysis on ACN

Accenture Stock Down 0.1 %

Shares of ACN stock opened at $285.34 on Monday. Accenture has a 12 month low of $278.69 and a 12 month high of $387.51. The firm has a market cap of $191.39 billion, a PE ratio of 25.87, a price-to-earnings-growth ratio of 3.12 and a beta of 1.22. The stock has a 50 day moving average of $302.44 and a 200-day moving average of $338.04.

Accenture (NYSE:ACNGet Free Report) last announced its quarterly earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.11. The firm had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.85 billion. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The business’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.69 earnings per share. As a group, equities analysts predict that Accenture will post 12.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the transaction, the insider now directly owns 13,699 shares in the company, valued at $4,208,606.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Kathleen R. Mcclure sold 4,500 shares of Accenture stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $316.00, for a total transaction of $1,422,000.00. Following the completion of the sale, the chief financial officer now directly owns 42,781 shares of the company’s stock, valued at approximately $13,518,796. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total value of $1,536,100.00. Following the sale, the insider now directly owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,083 shares of company stock worth $8,959,325. 0.07% of the stock is owned by corporate insiders.

Institutional Trading of Accenture

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Accenture during the 4th quarter worth $2,061,490,000. Swedbank AB acquired a new position in Accenture during the 1st quarter worth approximately $820,912,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Accenture by 100.0% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,751,531 shares of the information technology services provider’s stock worth $614,615,000 after purchasing an additional 875,723 shares in the last quarter. Winslow Capital Management LLC bought a new stake in Accenture during the 4th quarter worth approximately $288,168,000. Finally, Generation Investment Management LLP bought a new position in shares of Accenture in the fourth quarter valued at approximately $286,220,000. 75.14% 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, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.

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