Accenture (NYSE:ACN) Price Target Raised to $376.00

Accenture (NYSE:ACN) had its target price hoisted by JPMorgan Chase & Co. from $330.00 to $376.00 in a research report released on Friday, Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

Other equities research analysts also recently issued research reports about the company. TD Cowen dropped their price objective on Accenture from $294.00 to $293.00 and set a hold rating on the stock in a research report on Friday, June 21st. Stifel Nicolaus cut their price objective on shares of Accenture from $395.00 to $340.00 and set a buy rating on the stock in a research report on Wednesday, June 12th. Barclays lowered their target price on shares of Accenture from $390.00 to $350.00 and set an overweight rating for the company in a research note on Monday, June 17th. Mizuho cut their price target on shares of Accenture from $398.00 to $350.00 and set a buy rating on the stock in a report on Tuesday, June 18th. Finally, The Goldman Sachs Group assumed coverage on Accenture in a report on Monday, June 24th. They set a neutral rating and a $335.00 price objective for the company. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Accenture presently has an average rating of Moderate Buy and an average price target of $353.41.

Accenture Price Performance

Shares of Accenture stock opened at $339.73 on Friday. Accenture has a 1 year low of $278.69 and a 1 year high of $387.51. The stock has a market cap of $212.91 billion, a price-to-earnings ratio of 31.11, a PEG ratio of 3.81 and a beta of 1.24. The firm’s 50-day moving average is $323.63 and its two-hundred day moving average is $324.57.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). The business had revenue of $16.47 billion during the quarter, compared to the consensus estimate of $16.55 billion. Accenture had a return on equity of 27.48% and a net margin of 10.79%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the firm earned $3.19 EPS. On average, equities analysts expect that Accenture will post 11.95 earnings per share for the current year.

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th were given a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 1.52%. The ex-dividend date was Thursday, July 11th. Accenture’s dividend payout ratio is currently 47.25%.

Insider Activity

In other news, CEO Julie Spellman Sweet sold 3,776 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the sale, the chief executive officer now owns 11,819 shares of the company’s stock, valued at approximately $3,652,661.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total value of $1,649,100.00. Following the completion of the sale, the insider now directly owns 8,989 shares in the company, valued at $2,964,751.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Julie Spellman Sweet sold 3,776 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $309.05, for a total value of $1,166,972.80. Following the transaction, the chief executive officer now owns 11,819 shares in the company, valued at approximately $3,652,661.95. The disclosure for this sale can be found here. Insiders sold a total of 21,421 shares of company stock valued at $6,912,635 in the last quarter. 0.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Accenture

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pin Oak Investment Advisors Inc. raised its position in shares of Accenture by 8.2% during the 4th quarter. Pin Oak Investment Advisors Inc. now owns 357 shares of the information technology services provider’s stock worth $125,000 after purchasing an additional 27 shares during the last quarter. Sound View Wealth Advisors Group LLC raised its holdings in shares of Accenture by 2.1% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,363 shares of the information technology services provider’s stock valued at $478,000 after acquiring an additional 28 shares during the last quarter. IronBridge Private Wealth LLC lifted its position in shares of Accenture by 2.3% in the fourth quarter. IronBridge Private Wealth LLC now owns 1,235 shares of the information technology services provider’s stock valued at $433,000 after acquiring an additional 28 shares in the last quarter. Kolinsky Wealth Management LLC boosted its stake in shares of Accenture by 1.0% in the fourth quarter. Kolinsky Wealth Management LLC now owns 2,888 shares of the information technology services provider’s stock worth $1,013,000 after acquiring an additional 30 shares during the last quarter. Finally, Walled Lake Planning & Wealth Management LLC raised its stake in Accenture by 0.3% in the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 11,740 shares of the information technology services provider’s stock valued at $4,120,000 after purchasing an additional 32 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Company Profile

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.