Accenture (NYSE:ACN) PT Lowered to $268.00

Accenture (NYSE:ACNGet Rating) had its price target reduced by research analysts at Piper Sandler from $281.00 to $268.00 in a report issued on Friday, Stock Target Advisor reports. The brokerage currently has a “neutral” rating on the information technology services provider’s stock. Piper Sandler’s target price points to a potential upside of 2.17% from the company’s previous close.

Several other research analysts also recently weighed in on ACN. Exane BNP Paribas downgraded Accenture from an “outperform” rating to a “neutral” rating in a research note on Wednesday, June 29th. Cowen lowered their target price on Accenture from $330.00 to $325.00 and set an “outperform” rating on the stock in a research note on Friday, June 24th. BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating and set a $320.00 price target for the company. in a report on Wednesday, June 29th. BMO Capital Markets reduced their price target on Accenture from $337.00 to $315.00 and set a “market perform” rating for the company in a report on Wednesday. Finally, Barclays reduced their price target on Accenture from $455.00 to $370.00 and set an “overweight” rating for the company in a report on Friday, June 24th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.94.

Accenture Stock Down 1.2 %

NYSE:ACN opened at $262.32 on Friday. The stock’s 50 day moving average price is $294.97 and its 200 day moving average price is $299.75. The company has a market capitalization of $165.93 billion, a PE ratio of 25.44, a P/E/G ratio of 2.28 and a beta of 1.22. Accenture has a 52-week low of $261.77 and a 52-week high of $417.37.

Accenture (NYSE:ACNGet Rating) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $15.41 billion. During the same period last year, the business posted $2.20 EPS. The company’s revenue was up 14.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Accenture will post 10.69 EPS for the current fiscal year.

Insider Transactions at Accenture

In other 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 transaction, the general counsel now directly owns 25,601 shares of the company’s stock, valued at $7,680,300. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other 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 transaction, the general counsel now directly owns 25,601 shares of the company’s stock, valued at $7,680,300. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction on Friday, July 15th. The shares were sold at an average price of $270.93, for a total value of $1,693,312.50. Following the completion of the sale, the insider now directly owns 159,630 shares of the company’s stock, valued at approximately $43,248,555.90. The disclosure for this sale can be found here. Insiders sold a total of 11,389 shares of company stock valued at $3,132,777 over the last three months. 0.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Accenture

Hedge funds and other institutional investors have recently made changes to their positions in the business. Select Equity Group L.P. grew its position in shares of Accenture by 153.6% in the first quarter. Select Equity Group L.P. now owns 171,434 shares of the information technology services provider’s stock valued at $57,813,000 after purchasing an additional 103,824 shares during the period. Invesco Ltd. grew its position in Accenture by 1.2% during the first quarter. Invesco Ltd. now owns 3,332,841 shares of the information technology services provider’s stock valued at $1,123,933,000 after acquiring an additional 39,571 shares during the period. MBL Wealth LLC purchased a new stake in Accenture during the first quarter valued at about $284,000. Hazlett Burt & Watson Inc. purchased a new stake in Accenture during the first quarter valued at about $112,000. Finally, Aaron Wealth Advisors LLC grew its position in Accenture by 24,082.0% during the first quarter. Aaron Wealth Advisors LLC now owns 420,525 shares of the information technology services provider’s stock valued at $1,247,000 after acquiring an additional 418,786 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

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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