Accenture (NYSE:ACN) PT Lowered to $350.00 at BMO Capital Markets

Accenture (NYSE:ACNFree Report) had its price target reduced by BMO Capital Markets from $375.00 to $350.00 in a report issued on Friday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the information technology services provider’s stock.

Several other research analysts also recently issued reports on ACN. Guggenheim restated a buy rating and set a $395.00 price objective on shares of Accenture in a research report on Friday, May 24th. Piper Sandler Companies cut their price objective on Accenture from $379.00 to $320.00 and set a neutral rating for the company in a research report on Monday, June 17th. Jefferies Financial Group cut their price objective on Accenture from $340.00 to $275.00 and set a hold rating for the company in a research report on Wednesday, June 5th. TD Cowen cut their price objective on Accenture from $350.00 to $294.00 and set a hold rating for the company in a research report on Tuesday, June 11th. Finally, Morgan Stanley boosted their price target on Accenture from $400.00 to $417.00 and gave the company an overweight rating in a report on Monday, March 18th. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Accenture currently has a consensus rating of Moderate Buy and an average price target of $358.09.

Check Out Our Latest Stock Report on Accenture

Accenture Trading Up 0.9 %

ACN stock opened at $308.98 on Friday. The firm has a 50 day moving average of $301.15 and a 200-day moving average of $337.29. Accenture has a 12-month low of $278.69 and a 12-month high of $387.51. The company has a market cap of $207.25 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 3.35 and a beta of 1.21.

Accenture (NYSE:ACNGet Free Report) last posted its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The company had revenue of $16.47 billion for the quarter, compared to analyst estimates of $16.55 billion. During the same quarter in the previous year, the business posted $3.19 earnings per share. Accenture’s revenue was down .6% on a year-over-year basis. Sell-side analysts forecast that Accenture will post 12 earnings per share for the current fiscal year.

Accenture Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th will be issued a $1.29 dividend. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $5.16 dividend on an annualized basis and a yield of 1.67%. Accenture’s dividend payout ratio is currently 47.25%.

Insiders Place Their Bets

In other Accenture news, CEO Jean-Marc Ollagnier sold 6,250 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $315.91, for a total value of $1,974,437.50. Following the transaction, the chief executive officer now owns 161,581 shares in the company, valued at approximately $51,045,053.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, General Counsel Joel Unruch sold 4,333 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $316.12, for a total value of $1,369,747.96. Following the sale, the general counsel now owns 30,702 shares in the company, valued at approximately $9,705,516.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jean-Marc Ollagnier sold 6,250 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the completion of the sale, the chief executive officer now owns 161,581 shares in the company, valued at approximately $51,045,053.71. The disclosure for this sale can be found here. Insiders have sold 20,083 shares of company stock worth $6,302,285 in the last quarter. 0.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Accenture

Institutional investors have recently modified their holdings of the stock. Chilton Capital Management LLC lifted its holdings 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 worth $25,000 after acquiring an additional 45 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new position in Accenture in the fourth quarter worth about $27,000. Annapolis Financial Services LLC lifted its holdings in Accenture by 507.7% in the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 66 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in Accenture in the fourth quarter worth about $29,000. Finally, Atwood & Palmer Inc. increased its stake in shares of Accenture by 214.8% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 58 shares during the period. 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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