Accenture (NYSE:ACN) Given Neutral Rating at Piper Sandler Companies

Piper Sandler Companies reaffirmed their neutral rating on shares of Accenture (NYSE:ACN) in a report published on Friday morning, Stock Target Advisor reports. Piper Sandler Companies currently has a $329.00 price objective on the information technology services provider’s stock.

Several other equities analysts also recently weighed in on ACN. JPMorgan Chase & Co. lifted their price target on shares of Accenture from $330.00 to $376.00 and gave the company an overweight rating in a report on Friday, September 6th. Barclays dropped their target price on shares of Accenture from $390.00 to $350.00 and set an overweight rating for the company in a report on Monday, June 17th. BMO Capital Markets decreased their price target on Accenture from $375.00 to $350.00 and set a market perform rating on the stock in a report on Friday, June 21st. Bank of America dropped their price objective on Accenture from $419.00 to $365.00 and set a buy rating for the company in a research note on Wednesday, June 5th. Finally, Morgan Stanley downgraded Accenture from an overweight rating to an equal weight rating and decreased their target price for the company from $382.00 to $300.00 in a research note on Wednesday, June 26th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $356.41.

Accenture Stock Performance

Shares of Accenture stock opened at $336.22 on Friday. The stock has a market cap of $210.71 billion, a P/E ratio of 30.79, a P/E/G ratio of 3.82 and a beta of 1.24. The stock’s fifty day moving average is $332.01 and its 200 day moving average is $322.44. Accenture has a one year low of $278.69 and a one year high of $387.51.

Accenture (NYSE:ACN) last posted 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 company 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 firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.19 earnings per share. Analysts predict that Accenture will post 11.95 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Kathleen R. Mcclure sold 1,500 shares of Accenture stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $315.00, for a total value of $472,500.00. Following the completion of the transaction, the chief financial officer now owns 38,570 shares in the company, valued at approximately $12,149,550. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Accenture news, CFO Kathleen R. Mcclure sold 1,500 shares of Accenture stock in a transaction on Monday, July 15th. The shares were sold at an average price of $315.00, for a total transaction of $472,500.00. Following the completion of the transaction, the chief financial officer now directly owns 38,570 shares of the company’s stock, valued at $12,149,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Julie Spellman Sweet sold 3,776 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the transaction, the chief executive officer now owns 11,819 shares in the company, valued at approximately $3,652,661.95. The disclosure for this sale can be found here. Insiders have sold 21,421 shares of company stock valued at $6,912,635 over the last ninety days. 0.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Pin Oak Investment Advisors Inc. raised its position in shares of Accenture by 8.2% during the 4th quarter. Pin Oak Investment Advisors Inc. now owns 357 shares of the information technology services provider’s stock worth $125,000 after purchasing an additional 27 shares during the last quarter. IronBridge Private Wealth LLC raised its holdings in shares of Accenture by 2.3% during the fourth quarter. IronBridge Private Wealth LLC now owns 1,235 shares of the information technology services provider’s stock valued at $433,000 after acquiring an additional 28 shares during the last quarter. Kolinsky Wealth Management LLC lifted its position in shares of Accenture by 1.0% in the fourth quarter. Kolinsky Wealth Management LLC now owns 2,888 shares of the information technology services provider’s stock valued at $1,013,000 after acquiring an additional 30 shares in the last quarter. Walled Lake Planning & Wealth Management LLC boosted its stake in shares of Accenture by 0.3% in the fourth quarter. Walled Lake Planning & Wealth Management LLC now owns 11,740 shares of the information technology services provider’s stock worth $4,120,000 after acquiring an additional 32 shares during the last quarter. Finally, West Paces Advisors Inc. increased its position in shares of Accenture by 10.2% during the first quarter. West Paces Advisors Inc. now owns 346 shares of the information technology services provider’s stock worth $120,000 after purchasing an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

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.