Accenture (NYSE:ACN) Given New $199.00 Price Target at Deutsche Bank Aktiengesellschaft

Accenture (NYSE:ACN) had its price target reduced by Deutsche Bank Aktiengesellschaft from $210.00 to $199.00 in a report issued on Tuesday,MarketScreener reports. The brokerage currently has a “hold” rating on the information technology services provider’s stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 4.93% from the stock’s current price.

Several other equities analysts have also recently commented on the company. Morgan Stanley cut their price target on Accenture from $320.00 to $240.00 and set an “overweight” rating for the company in a report on Monday, March 16th. Robert W. Baird cut their target price on Accenture from $330.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. TD Cowen decreased their price target on shares of Accenture from $282.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. JPMorgan Chase & Co. increased their price objective on shares of Accenture from $243.00 to $247.00 and gave the company an “overweight” rating in a research note on Friday, March 20th. Finally, Royal Bank Of Canada decreased their target price on shares of Accenture from $295.00 to $253.00 and set an “outperform” rating on the stock in a research report on Friday, March 20th. Sixteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $270.62.

Accenture Trading Up 1.4%

Shares of ACN stock opened at $189.66 on Tuesday. The firm has a market capitalization of $126.21 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 1.77 and a beta of 1.09. Accenture has a 1 year low of $155.82 and a 1 year high of $321.77. The firm’s fifty day simple moving average is $185.57 and its 200 day simple moving average is $226.05. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Friday, March 20th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping 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 net margin of 10.61% and a return on equity of 26.33%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the business posted $2.82 EPS. As a group, sell-side analysts predict that Accenture will post 13.87 EPS for the current year.

Insider Buying and Selling

In related news, CEO Atsushi Egawa sold 4,872 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $177.14, for a total transaction of $863,026.08. Following the completion of the sale, the chief executive officer directly owned 12,802 shares of the company’s stock, valued at $2,267,746.28. This trade represents a 27.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is currently owned by company insiders.

Institutional Trading of Accenture

A number of hedge funds and other institutional investors have recently made changes to their positions in ACN. Norges Bank acquired a new position in shares of Accenture during the fourth quarter valued at $2,146,995,000. Capital International Investors boosted its stake in shares of Accenture by 41.1% in the 3rd quarter. Capital International Investors now owns 17,128,134 shares of the information technology services provider’s stock valued at $4,223,839,000 after purchasing an additional 4,984,930 shares during the last quarter. First Trust Advisors LP grew its position in shares of Accenture by 120.0% during the 1st quarter. First Trust Advisors LP now owns 3,482,150 shares of the information technology services provider’s stock worth $690,475,000 after buying an additional 1,899,305 shares during the period. Voloridge Investment Management LLC bought a new stake in shares of Accenture during the third quarter worth approximately $311,694,000. Finally, Franklin Resources Inc. lifted its holdings in Accenture by 15.9% in the fourth quarter. Franklin Resources Inc. now owns 8,173,338 shares of the information technology services provider’s stock valued at $2,192,907,000 after buying an additional 1,122,855 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

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.