Accenture (NYSE:ACN) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Stock analysts at Deutsche Bank Aktiengesellschaft initiated coverage on shares of Accenture (NYSE:ACN) in a note issued to investors on Thursday, Marketbeat.com reports. The firm set a “hold” rating and a $290.00 price target on the information technology services provider’s stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 2.70% from the stock’s current price.

Other research analysts have also issued research reports about the company. Evercore ISI started coverage on Accenture in a research report on Thursday. They issued an “outperform” rating and a $330.00 target price for the company. Guggenheim cut their target price on Accenture from $360.00 to $335.00 and set a “buy” rating on the stock in a research note on Monday, June 23rd. JPMorgan Chase & Co. boosted their price objective on Accenture from $349.00 to $353.00 and gave the stock an “overweight” rating in a research note on Monday, June 16th. BMO Capital Markets lowered their price target on Accenture from $355.00 to $325.00 and set a “market perform” rating on the stock in a report on Monday, June 23rd. Finally, Argus set a $370.00 price target on Accenture in a report on Tuesday, June 24th. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $365.43.

Accenture Stock Performance

Accenture stock opened at $282.37 on Thursday. The company has a market cap of $176.86 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 2.65 and a beta of 1.29. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. Accenture has a 12 month low of $273.19 and a 12 month high of $398.35. The stock’s 50-day moving average is $306.32 and its 200-day moving average is $324.73.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.32 by $0.17. The firm had revenue of $17.73 billion during the quarter, compared to analyst estimates of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%. Accenture’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.13 EPS. Equities analysts anticipate that Accenture will post 12.73 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Angela Beatty sold 203 shares of the stock in a transaction on Friday, July 11th. The stock was sold at an average price of $282.34, for a total value of $57,315.02. Following the transaction, the insider owned 5,249 shares of the company’s stock, valued at $1,482,002.66. This represents a 3.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mauro Macchi sold 500 shares of the firm’s stock in a transaction on Friday, July 11th. The stock was sold at an average price of $282.34, for a total value of $141,170.00. Following the sale, the chief executive officer directly owned 2,283 shares in the company, valued at $644,582.22. The trade was a 17.97% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,454 shares of company stock worth $1,646,780. Company insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Accenture

Large investors have recently added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC acquired a new position in Accenture during the fourth quarter worth approximately $30,000. Park Square Financial Group LLC acquired a new stake in Accenture during the fourth quarter worth approximately $31,000. Capital A Wealth Management LLC acquired a new stake in Accenture during the fourth quarter worth approximately $34,000. Mountain Hill Investment Partners Corp. acquired a new stake in Accenture during the fourth quarter worth approximately $35,000. Finally, Kelly Lawrence W & Associates Inc. CA acquired a new stake in Accenture during the first quarter worth approximately $31,000. Institutional investors own 75.14% of the company’s stock.

About Accenture

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.