Accenture (NYSE:ACN) PT Lowered to $340.00

Accenture (NYSE:ACNGet Free Report) had its price target decreased by equities researchers at Stifel Nicolaus from $395.00 to $340.00 in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm currently has a “buy” rating on the information technology services provider’s stock. Stifel Nicolaus’ price target suggests a potential upside of 20.43% from the company’s previous close.

Several other analysts also recently weighed in on the stock. BMO Capital Markets cut their price objective on shares of Accenture from $385.00 to $375.00 and set a “market perform” rating on the stock in a research report on Friday, March 22nd. Bank of America decreased their price objective on Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Piper Sandler lifted their target price on Accenture from $335.00 to $394.00 and gave the company a “neutral” rating in a research note on Monday, March 18th. Deutsche Bank Aktiengesellschaft cut Accenture from a “buy” rating to a “hold” rating and decreased their price target for the stock from $409.00 to $295.00 in a research note on Wednesday, May 15th. Finally, Redburn Atlantic upped their price objective on shares of Accenture from $410.00 to $445.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $367.50.

Check Out Our Latest Research Report on Accenture

Accenture Stock Performance

NYSE ACN opened at $282.32 on Wednesday. The firm has a market capitalization of $189.36 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 3.15 and a beta of 1.21. Accenture has a one year low of $278.69 and a one year high of $387.51. The company has a 50-day simple moving average of $305.27 and a 200-day simple moving average of $338.98.

Accenture (NYSE:ACNGet Free Report) last posted its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 EPS for the quarter, beating the consensus estimate of $2.66 by $0.11. The company had revenue of $15.80 billion during the quarter, compared to analyst estimates 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 company earned $2.69 earnings per share. Equities analysts forecast that Accenture will post 12.09 earnings per share for the current year.

Insider Transactions at Accenture

In related news, COO John F. Walsh sold 8,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the transaction, the chief operating officer now directly owns 17,877 shares of the company’s stock, valued at $5,937,488.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO John F. Walsh sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the transaction, the chief operating officer now directly owns 17,877 shares of the company’s stock, valued at $5,937,488.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kathleen R. Mcclure sold 4,500 shares of the 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 owns 42,781 shares of the company’s stock, valued at approximately $13,518,796. The disclosure for this sale can be found here. Insiders sold a total of 28,083 shares of company stock valued at $8,959,325 over the last quarter. Company insiders own 0.07% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. increased its holdings in Accenture by 8.2% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 357 shares of the information technology services provider’s stock worth $125,000 after buying an additional 27 shares during the last quarter. Brave Asset Management Inc. boosted its holdings in Accenture by 2.8% in the fourth quarter. Brave Asset Management Inc. now owns 1,028 shares of the information technology services provider’s stock worth $361,000 after purchasing an additional 28 shares in the last quarter. Addison Advisors LLC increased its position in Accenture by 0.9% during the fourth quarter. Addison Advisors LLC now owns 3,181 shares of the information technology services provider’s stock worth $1,116,000 after buying an additional 28 shares during the last quarter. Searle & CO. raised its holdings in Accenture by 3.6% during the fourth quarter. Searle & CO. now owns 803 shares of the information technology services provider’s stock valued at $282,000 after buying an additional 28 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC boosted its stake in shares of Accenture by 2.1% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,363 shares of the information technology services provider’s stock worth $478,000 after acquiring an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Company Profile

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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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