JPMorgan Chase & Co. Lowers Accenture (NYSE:ACN) Price Target to $370.00

Accenture (NYSE:ACN) had its price target cut by stock analysts at JPMorgan Chase & Co. from $376.00 to $370.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the information technology services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 9.46% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. TD Cowen raised their target price on Accenture from $293.00 to $321.00 and gave the company a “hold” rating in a research note on Thursday, September 12th. Citigroup boosted their price objective on Accenture from $350.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. UBS Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a report on Friday, July 19th. Barclays reduced their target price on Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a report on Monday, June 17th. Finally, The Goldman Sachs Group initiated coverage on Accenture in a report on Monday, June 24th. They set a “neutral” rating and a $335.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Accenture currently has an average rating of “Moderate Buy” and a consensus price target of $356.14.

Accenture Stock Down 0.4 %

NYSE ACN traded down $1.19 on Tuesday, hitting $338.02. The stock had a trading volume of 77,983 shares, compared to its average volume of 2,755,336. Accenture has a one year low of $278.69 and a one year high of $387.51. The company’s 50-day moving average is $332.44 and its two-hundred day moving average is $321.31. The stock has a market cap of $211.83 billion, a price-to-earnings ratio of 30.95, a P/E/G ratio of 3.82 and a beta of 1.24.

Insider Buying and Selling at Accenture

In other news, General Counsel Joel Unruch sold 8,145 shares of Accenture stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the transaction, the general counsel now owns 22,849 shares in the company, valued at approximately $7,564,161.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the transaction, the insider now directly owns 8,989 shares in the company, valued at $2,964,751.98. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Joel Unruch sold 8,145 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the completion of the sale, the general counsel now owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,421 shares of company stock valued at $6,912,635. Company insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On Accenture

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Anchor Investment Management LLC increased its stake in shares of Accenture by 1.1% during the second quarter. Anchor Investment Management LLC now owns 5,661 shares of the information technology services provider’s stock worth $1,718,000 after purchasing an additional 61 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Accenture by 38.0% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 379,060 shares of the information technology services provider’s stock worth $115,011,000 after purchasing an additional 104,325 shares during the last quarter. Verity & Verity LLC increased its stake in shares of Accenture by 8.0% in the 2nd quarter. Verity & Verity LLC now owns 5,216 shares of the information technology services provider’s stock valued at $1,583,000 after purchasing an additional 387 shares during the last quarter. Cim LLC lifted its position in shares of Accenture by 9.6% during the 2nd quarter. Cim LLC now owns 6,887 shares of the information technology services provider’s stock worth $2,090,000 after buying an additional 604 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in Accenture in the second quarter valued at about $27,862,000. 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.