Accenture (NYSE:ACN) Price Target Cut to $350.00

Accenture (NYSE:ACN) had its target price dropped by research analysts at Susquehanna from $360.00 to $350.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the information technology services provider’s stock. Susquehanna’s target price suggests a potential upside of 13.28% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the company. Piper Sandler decreased their price objective on Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a report on Monday, June 17th. Deutsche Bank Aktiengesellschaft lowered Accenture from a “buy” rating to a “hold” rating and reduced their price target for the stock from $409.00 to $295.00 in a research report on Wednesday, May 15th. Wedbush reduced their price target on Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 12th. BMO Capital Markets reduced their price target on Accenture from $375.00 to $350.00 and set a “market perform” rating on the stock in a research report on Friday. Finally, Royal Bank of Canada raised their price target on Accenture from $374.00 to $381.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $358.09.

Accenture Stock Up 0.9 %

NYSE:ACN opened at $308.98 on Friday. The stock has a market cap of $207.25 billion, a P/E ratio of 28.29, a PEG ratio of 3.35 and a beta of 1.21. Accenture has a twelve month low of $278.69 and a twelve month high of $387.51. The business’s 50-day moving average price is $301.15 and its two-hundred day moving average price is $337.27.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). The firm had revenue of $16.47 billion for the quarter, compared to analysts’ expectations of $16.55 billion. Accenture had a net margin of 10.79% and a return on equity of 27.48%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business posted $3.19 earnings per share. On average, equities research analysts expect that Accenture will post 12 EPS for the current fiscal year.

Insider Activity

In other news, COO John F. Walsh sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $332.13, for a total value of $2,657,040.00. Following the completion of the transaction, the chief operating officer now owns 17,877 shares in the company, valued at approximately $5,937,488.01. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Accenture news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total value of $1,536,100.00. Following the sale, the insider now directly owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John F. Walsh sold 8,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $332.13, for a total value of $2,657,040.00. Following the completion of the sale, the chief operating officer now directly owns 17,877 shares in the company, valued at $5,937,488.01. The disclosure for this sale can be found here. Insiders sold a total of 28,083 shares of company stock worth $8,959,325 in the last quarter. 0.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On Accenture

Hedge funds have recently added to or reduced their stakes in the stock. Chilton Capital Management LLC boosted its holdings in Accenture by 180.0% in the fourth quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 45 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new position in shares of Accenture during the fourth quarter valued at $27,000. Annapolis Financial Services LLC lifted its holdings in shares of Accenture by 507.7% during the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 66 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in shares of Accenture during the fourth quarter valued at $29,000. Finally, Atwood & Palmer Inc. lifted its holdings in shares of Accenture by 214.8% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 58 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

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.