Accenture (NYSE:ACN) Price Target Cut to $340.00

Accenture (NYSE:ACNGet Free Report) had its price target decreased by equities research analysts at Stifel Nicolaus from $395.00 to $340.00 in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has a “buy” rating on the information technology services provider’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 20.43% from the stock’s current price.

Several other brokerages have also recently commented on ACN. Citigroup cut their price target on shares of Accenture from $430.00 to $400.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. BMO Capital Markets reduced their price target on Accenture from $385.00 to $375.00 and set a “market perform” rating for the company in a research report on Friday, March 22nd. StockNews.com lowered Accenture from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Mizuho reissued a “buy” rating and issued a $398.00 price objective (down previously from $426.00) on shares of Accenture in a report on Friday, March 22nd. Finally, Royal Bank of Canada boosted their target price on shares of Accenture from $374.00 to $381.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $367.50.

View Our Latest Research Report on ACN

Accenture Price Performance

Shares of Accenture stock opened at $282.32 on Wednesday. The firm has a market cap of $189.36 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 3.15 and a beta of 1.21. The stock’s 50-day moving average is $305.27 and its 200-day moving average is $338.98. Accenture has a one year low of $278.69 and a one year high of $387.51.

Accenture (NYSE:ACNGet Free Report) last released its quarterly earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.11. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The firm had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.85 billion. During the same quarter in the prior year, the firm posted $2.69 EPS. The business’s revenue was down .1% on a year-over-year basis. On average, equities analysts expect that Accenture will post 12.09 EPS for the current year.

Insider Buying and Selling at Accenture

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Chilton Capital Management LLC boosted its stake 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 valued at $25,000 after buying an additional 45 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in Accenture during the 4th quarter worth approximately $27,000. Annapolis Financial Services LLC lifted its stake in Accenture by 507.7% in the 1st 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 during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in Accenture in the fourth quarter valued at approximately $29,000. Finally, Atwood & Palmer Inc. lifted its stake in shares of Accenture by 214.8% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 58 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Company Profile

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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.

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