Accenture (NYSE:ACN) PT Lowered to $294.00 at TD Cowen

Accenture (NYSE:ACNFree Report) had its target price lowered by TD Cowen from $350.00 to $294.00 in a report published on Tuesday morning, Benzinga reports. TD Cowen currently has a hold rating on the information technology services provider’s stock.

A number of other research firms also recently commented on ACN. Robert W. Baird reduced their target price on Accenture from $372.00 to $345.00 and set a neutral rating for the company in a report on Thursday, May 16th. Morgan Stanley raised their price target on Accenture from $400.00 to $417.00 and gave the company an overweight rating in a research report on Monday, March 18th. Piper Sandler raised their price target on Accenture from $335.00 to $394.00 and gave the company a neutral rating in a research report on Monday, March 18th. Deutsche Bank Aktiengesellschaft cut Accenture from a buy rating to a hold rating and dropped their price target for the company from $409.00 to $295.00 in a research report on Wednesday, May 15th. Finally, Susquehanna restated a neutral rating and issued a $360.00 price target (down previously from $400.00) on shares of Accenture in a research report on Thursday, March 21st. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $367.50.

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Accenture Price Performance

Shares of NYSE ACN opened at $282.32 on Tuesday. Accenture has a 1-year low of $278.69 and a 1-year high of $387.51. The stock has a fifty day moving average price of $305.27 and a 200 day moving average price of $338.98. The company has a market cap of $189.36 billion, a PE ratio of 25.60, a P/E/G ratio of 3.15 and a beta of 1.21.

Accenture (NYSE:ACNGet Free Report) last released its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 EPS for the quarter, beating 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 company had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.85 billion. During the same quarter last year, the company earned $2.69 earnings per share. Accenture’s quarterly revenue was down .1% compared to the same quarter last year. Analysts anticipate that Accenture will post 12.09 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, April 11th were paid a dividend of $1.29 per share. The ex-dividend date of this dividend was Wednesday, April 10th. This represents a $5.16 dividend on an annualized basis and a yield of 1.83%. Accenture’s payout ratio is currently 46.78%.

Insiders Place Their Bets

In other Accenture news, COO John F. Walsh sold 8,000 shares of the business’s 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 completion of the transaction, the chief operating officer now owns 17,877 shares in the company, valued at approximately $5,937,488.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Accenture news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now owns 13,699 shares in the company, valued at approximately $4,208,606.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John F. Walsh sold 8,000 shares of the company’s stock in a transaction 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 owns 17,877 shares of the company’s stock, valued at approximately $5,937,488.01. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,083 shares of company stock worth $8,959,325. 0.07% of the stock is owned by company insiders.

Institutional Trading of Accenture

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Accenture by 1.1% during the first quarter. Vanguard Group Inc. now owns 59,718,732 shares of the information technology services provider’s stock valued at $20,699,110,000 after purchasing an additional 635,349 shares during the last quarter. FMR LLC lifted its holdings in shares of Accenture by 4.4% during the third quarter. FMR LLC now owns 13,316,028 shares of the information technology services provider’s stock valued at $4,089,485,000 after purchasing an additional 565,505 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Accenture by 7.0% during the third quarter. Wellington Management Group LLP now owns 11,034,666 shares of the information technology services provider’s stock valued at $3,388,856,000 after purchasing an additional 720,647 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Accenture by 2.0% during the first quarter. Capital Research Global Investors now owns 8,652,537 shares of the information technology services provider’s stock valued at $2,999,056,000 after purchasing an additional 173,107 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Accenture by 5.6% during the third quarter. Northern Trust Corp now owns 8,285,864 shares of the information technology services provider’s stock valued at $2,544,672,000 after purchasing an additional 443,004 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

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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