Mizuho Issues Pessimistic Forecast for Accenture (NYSE:ACN) Stock Price

Accenture (NYSE:ACN) had its price objective cut by research analysts at Mizuho from $309.00 to $280.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the information technology services provider’s stock. Mizuho’s price objective indicates a potential upside of 39.96% from the company’s current price.

Other research analysts have also issued research reports about the stock. BMO Capital Markets reduced their price objective on shares of Accenture from $300.00 to $230.00 and set a “market perform” rating for the company in a research note on Friday. Jefferies Financial Group raised their target price on shares of Accenture from $270.00 to $280.00 and gave the company a “hold” rating in a research note on Thursday, January 8th. Morgan Stanley reduced their price target on Accenture from $320.00 to $240.00 and set an “overweight” rating on the stock in a research report on Monday, March 16th. Wolfe Research increased their price objective on Accenture from $300.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, December 11th. Finally, TD Cowen dropped their target price on Accenture from $282.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. Eighteen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $274.88.

Accenture Stock Up 0.0%

Shares of NYSE ACN traded up $0.06 during mid-day trading on Monday, reaching $200.05. 2,288,146 shares of the company were exchanged, compared to its average volume of 6,863,260. Accenture has a 1 year low of $187.00 and a 1 year high of $325.71. The firm has a 50-day moving average of $234.38 and a 200 day moving average of $246.63. The stock has a market cap of $123.15 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 1.90 and a beta of 1.28. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.16.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, March 19th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. The company had revenue of $18.04 billion for the quarter, compared to analyst estimates of $17.80 billion. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.82 earnings per share. On average, research analysts expect that Accenture will post 12.73 earnings per share for the current year.

Insider Buying and Selling

In other Accenture news, CEO Julie Spellman Sweet sold 6,057 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $241.23, for a total transaction of $1,461,130.11. Following the completion of the transaction, the chief executive officer directly owned 15,255 shares of the company’s stock, valued at approximately $3,679,963.65. This trade represents a 28.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Melissa A. Burgum sold 3,588 shares of the company’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $281.01, for a total transaction of $1,008,263.88. Following the completion of the sale, the chief accounting officer directly owned 8,179 shares in the company, valued at $2,298,380.79. This trade represents a 30.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 22,088 shares of company stock worth $5,970,434 in the last quarter. 0.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Accenture

A number of institutional investors have recently modified their holdings of ACN. Purpose Unlimited Inc. acquired a new position in shares of Accenture in the 4th quarter valued at about $8,206,000. Stance Capital LLC acquired a new stake in Accenture during the fourth quarter worth about $1,387,000. Osbon Capital Management LLC purchased a new position in Accenture during the fourth quarter valued at approximately $79,000. World Investment Advisors lifted its holdings in Accenture by 9.5% in the fourth quarter. World Investment Advisors now owns 30,677 shares of the information technology services provider’s stock valued at $8,231,000 after acquiring an additional 2,657 shares during the period. Finally, Meadowbrook Advisors Group LLC purchased a new stake in Accenture in the 4th quarter worth approximately $742,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

About Accenture

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.