Accenture (NYSE:ACN) PT Lowered to $350.00

Accenture (NYSE:ACNGet Free Report) had its target price reduced by equities research analysts at Barclays from $390.00 to $350.00 in a report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the information technology services provider’s stock. Barclays‘s target price would suggest a potential upside of 22.66% from the company’s previous close.

Several other equities research analysts have also issued reports on ACN. Robert W. Baird decreased their target price on Accenture from $372.00 to $345.00 and set a “neutral” rating for the company in a research report on Thursday, May 16th. Guggenheim reissued a “buy” rating and issued a $395.00 target price on shares of Accenture in a research report on Friday, May 24th. Citigroup lowered their target price on Accenture from $430.00 to $400.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Jefferies Financial Group decreased their price objective on Accenture from $340.00 to $275.00 and set a “hold” rating for the company in a report on Wednesday, June 5th. Finally, Royal Bank of Canada upped their price objective on shares of Accenture from $374.00 to $381.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $360.50.

Check Out Our Latest Analysis on Accenture

Accenture Stock Performance

ACN stock opened at $285.34 on Monday. Accenture has a fifty-two week low of $278.69 and a fifty-two week high of $387.51. The stock’s 50 day simple moving average is $302.44 and its 200 day simple moving average is $338.04. The company has a market cap of $191.39 billion, a P/E ratio of 25.87, a price-to-earnings-growth ratio of 3.12 and a beta of 1.22.

Accenture (NYSE:ACNGet Free Report) last released its quarterly earnings data 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 analyst estimates of $15.85 billion. Accenture had a net margin of 10.89% and a return on equity of 28.30%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the firm earned $2.69 earnings per share. Equities analysts predict that Accenture will post 12.08 earnings per share for the current year.

Insider Buying and Selling at Accenture

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction that occurred on 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 owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Kathleen R. Mcclure sold 4,500 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $316.00, for a total transaction of $1,422,000.00. Following the transaction, the chief financial officer now owns 42,781 shares in the company, valued at $13,518,796. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ellyn Shook sold 5,000 shares of the firm’s 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 sale, the insider now 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 quarter, insiders have sold 28,083 shares of company stock worth $8,959,325. 0.07% of the stock is currently owned by company insiders.

Institutional Trading of Accenture

A number of hedge funds and other institutional investors have recently modified their holdings of ACN. Sugarloaf Wealth Management LLC increased its holdings in shares of Accenture by 12.2% during the third quarter. Sugarloaf Wealth Management LLC now owns 489 shares of the information technology services provider’s stock valued at $150,000 after acquiring an additional 53 shares in the last quarter. Glenview Trust co raised its holdings in Accenture by 1.6% in the third quarter. Glenview Trust co now owns 3,852 shares of the information technology services provider’s stock worth $1,183,000 after buying an additional 61 shares during the last quarter. Interchange Capital Partners LLC purchased a new stake in shares of Accenture during the third quarter valued at approximately $207,000. Rathbones Group PLC increased its position in shares of Accenture by 2.6% during the third quarter. Rathbones Group PLC now owns 939,509 shares of the information technology services provider’s stock valued at $288,533,000 after acquiring an additional 24,084 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in Accenture by 25.7% in the 3rd quarter. V Square Quantitative Management LLC now owns 4,830 shares of the information technology services provider’s stock worth $1,483,000 after acquiring an additional 986 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Accenture (NYSE:ACN)

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