Accenture (NYSE:ACN) PT Raised to $365.00

Accenture (NYSE:ACN) had its price target boosted by stock analysts at Mizuho from $352.00 to $365.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the information technology services provider’s stock. Mizuho’s price objective suggests a potential upside of 8.51% from the company’s current price.

Several other analysts have also recently weighed in on ACN. BMO Capital Markets cut their price target on shares of Accenture from $375.00 to $350.00 and set a “market perform” rating on the stock in a report on Friday, June 21st. Susquehanna cut their price target on shares of Accenture from $360.00 to $350.00 and set a “neutral” rating on the stock in a report on Friday, June 21st. Piper Sandler cut their price target on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a report on Monday, June 17th. JPMorgan Chase & Co. raised their price objective on Accenture from $330.00 to $376.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Guggenheim reissued a “buy” rating and set a $395.00 price objective on shares of Accenture in a research report on Friday, May 24th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $355.59.

Accenture Stock Down 0.2 %

Shares of Accenture stock traded down $0.68 on Wednesday, hitting $336.36. The stock had a trading volume of 1,103,752 shares, compared to its average volume of 2,755,452. Accenture has a one year low of $278.69 and a one year high of $387.51. The stock has a market cap of $210.79 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 3.82 and a beta of 1.24. The stock’s 50-day simple moving average is $329.94 and its two-hundred day simple moving average is $322.59.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.15 by ($0.02). The firm had revenue of $16.47 billion during the quarter, compared to the consensus estimate of $16.55 billion. Accenture had a return on equity of 27.48% and a net margin of 10.79%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.19 EPS. As a group, equities analysts predict that Accenture will post 11.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other Accenture news, CEO Julie Spellman Sweet sold 3,776 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $309.05, for a total value of $1,166,972.80. Following the completion of the transaction, the chief executive officer now owns 11,819 shares of the company’s stock, valued at approximately $3,652,661.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Accenture news, CEO Julie Spellman Sweet sold 3,776 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $309.05, for a total value of $1,166,972.80. Following the completion of the transaction, the chief executive officer now owns 11,819 shares of the company’s stock, valued at approximately $3,652,661.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total value of $1,649,100.00. Following the completion of the transaction, the insider now directly owns 8,989 shares of the company’s stock, valued at approximately $2,964,751.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,421 shares of company stock valued at $6,912,635. 0.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ACN. Swedbank AB bought a new position in shares of Accenture during the 1st quarter valued at approximately $820,912,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Accenture by 100.0% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,751,531 shares of the information technology services provider’s stock valued at $614,615,000 after acquiring an additional 875,723 shares during the period. Clearbridge Investments LLC grew its stake in shares of Accenture by 44.7% during the 2nd quarter. Clearbridge Investments LLC now owns 2,709,989 shares of the information technology services provider’s stock valued at $822,238,000 after acquiring an additional 837,677 shares during the period. Winslow Capital Management LLC bought a new position in shares of Accenture during the 4th quarter valued at approximately $288,168,000. Finally, Generation Investment Management LLP bought a new position in shares of Accenture during the 4th quarter valued at approximately $286,220,000. 75.14% of the stock is currently owned by institutional investors.

Accenture Company Profile

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.