Accenture (NYSE:ACN) Price Target Cut to $360.00

Accenture (NYSE:ACNGet Rating) had its price objective cut by investment analysts at Susquehanna from $460.00 to $360.00 in a research report issued to clients and investors on Friday, The Fly reports. Susquehanna’s target price suggests a potential upside of 37.24% from the stock’s previous close.

A number of other research analysts have also commented on ACN. Cowen cut their target price on Accenture from $330.00 to $325.00 and set an “outperform” rating for the company in a research note on Friday, June 24th. Deutsche Bank Aktiengesellschaft cut their target price on Accenture from $440.00 to $364.00 in a research note on Friday, June 17th. Robert W. Baird upped their target price on Accenture from $310.00 to $338.00 and gave the company a “neutral” rating in a research note on Tuesday, August 9th. BNP Paribas lowered Accenture from an “outperform” rating to a “neutral” rating and set a $320.00 price objective for the company. in a research note on Wednesday, June 29th. Finally, Jefferies Financial Group dropped their price objective on Accenture from $342.00 to $310.00 and set a “hold” rating for the company in a research note on Wednesday, September 14th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $350.11.

Accenture Trading Down 1.2 %

ACN opened at $262.32 on Friday. Accenture has a 1-year low of $261.77 and a 1-year high of $417.37. The stock has a market capitalization of $165.93 billion, a price-to-earnings ratio of 25.44, a P/E/G ratio of 2.28 and a beta of 1.22. The business has a 50 day moving average of $294.97 and a 200-day moving average of $299.75.

Accenture (NYSE:ACNGet Rating) last posted its quarterly earnings data on Thursday, September 22nd. The information technology services provider reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.03. Accenture had a return on equity of 31.50% and a net margin of 11.13%. The company had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $15.41 billion. During the same period in the prior year, the business earned $2.20 earnings per share. Accenture’s revenue for the quarter was up 14.9% compared to the same quarter last year. Equities analysts predict that Accenture will post 10.69 EPS for the current year.

Insiders Place Their Bets

In other Accenture news, General Counsel Joel Unruch sold 555 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $300.00, for a total transaction of $166,500.00. Following the transaction, the general counsel now owns 25,601 shares of the company’s stock, valued at approximately $7,680,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Joel Unruch sold 555 shares of the business’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $300.00, for a total value of $166,500.00. Following the completion of the sale, the general counsel now directly owns 25,601 shares in the company, valued at approximately $7,680,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ellyn Shook sold 750 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $300.00, for a total value of $225,000.00. Following the sale, the insider now owns 21,400 shares of the company’s stock, valued at $6,420,000. The disclosure for this sale can be found here. Insiders have sold 11,389 shares of company stock valued at $3,132,777 in the last 90 days. 0.07% of the stock is currently owned by insiders.

Institutional Trading of Accenture

Institutional investors have recently modified their holdings of the stock. LPL Financial LLC raised its holdings in shares of Accenture by 8.2% during the 4th quarter. LPL Financial LLC now owns 177,850 shares of the information technology services provider’s stock worth $73,728,000 after buying an additional 13,507 shares in the last quarter. Altavista Wealth Management Inc. grew its position in shares of Accenture by 2.1% in the 4th quarter. Altavista Wealth Management Inc. now owns 12,247 shares of the information technology services provider’s stock valued at $5,077,000 after buying an additional 247 shares during the last quarter. Avaii Wealth Management LLC bought a new stake in shares of Accenture in the 4th quarter valued at about $335,000. State Street Corp grew its position in shares of Accenture by 3.2% in the 4th quarter. State Street Corp now owns 26,117,172 shares of the information technology services provider’s stock valued at $10,826,880,000 after buying an additional 817,970 shares during the last quarter. Finally, Freestone Capital Holdings LLC grew its position in shares of Accenture by 3.2% in the 4th quarter. Freestone Capital Holdings LLC now owns 53,476 shares of the information technology services provider’s stock valued at $22,168,000 after buying an additional 1,662 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors.

About Accenture

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Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.

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