Accenture (NYSE:ACN) Price Target Cut to $268.00 by Analysts at Piper Sandler

Accenture (NYSE:ACNGet Rating) had its target price cut by research analysts at Piper Sandler from $281.00 to $268.00 in a note issued to investors on Friday, Stock Target Advisor reports. The brokerage presently has a “neutral” rating on the information technology services provider’s stock. Piper Sandler’s price objective indicates a potential upside of 2.17% from the company’s current price.

A number of other equities analysts have also issued reports on ACN. Deutsche Bank Aktiengesellschaft decreased their price target on Accenture from $440.00 to $364.00 in a research note on Friday, June 17th. Citigroup decreased their price target on Accenture from $400.00 to $330.00 and set a “buy” rating for the company in a research note on Friday, June 24th. Morgan Stanley decreased their price target on Accenture from $385.00 to $350.00 and set an “overweight” rating for the company in a research note on Wednesday, September 7th. BMO Capital Markets decreased their price target on Accenture from $337.00 to $315.00 and set a “market perform” rating for the company in a research note on Wednesday. Finally, Bank of America decreased their price target on Accenture from $443.00 to $374.00 and set a “buy” rating for the company in a research note on Friday, June 17th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $350.94.

Accenture Price Performance

Shares of ACN stock opened at $262.32 on Friday. Accenture has a 12-month low of $261.77 and a 12-month high of $417.37. The firm has a market capitalization of $165.93 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 2.28 and a beta of 1.22. The business has a 50 day simple moving average of $294.97 and a 200 day simple moving average of $299.75.

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

Insider Activity

In other news, insider Ellyn Shook sold 750 shares of the stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $300.00, for a total value of $225,000.00. Following the completion of the sale, the insider now owns 21,400 shares in the company, valued at $6,420,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Julie Spellman Sweet sold 3,278 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $4,599,849.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ellyn Shook sold 750 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $300.00, for a total transaction of $225,000.00. Following the completion of the transaction, the insider now directly owns 21,400 shares in the company, valued at $6,420,000. The disclosure for this sale can be found here. Insiders sold 11,389 shares of company stock worth $3,132,777 over the last quarter. Corporate insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On Accenture

A number of hedge funds have recently modified their holdings of ACN. Citizens National Bank Trust Department acquired a new position in Accenture during the fourth quarter worth $31,000. Oliver Lagore Vanvalin Investment Group acquired a new position in Accenture during the first quarter worth $26,000. Ulland Investment Advisors LLC acquired a new position in Accenture during the first quarter worth $29,000. Delos Wealth Advisors LLC acquired a new position in Accenture during the fourth quarter worth $39,000. Finally, Schubert & Co increased its position in Accenture by 71.6% during the second quarter. Schubert & Co now owns 115 shares of the information technology services provider’s stock worth $32,000 after buying an additional 48 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

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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