Accenture (NYSE:ACN) Downgraded by Robert W. Baird to Hold

Accenture (NYSE:ACN) was downgraded by analysts at Robert W. Baird from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks reports.

Several other research firms have also issued reports on ACN. Mizuho increased their target price on shares of Accenture from $226.00 to $241.00 and gave the stock an “outperform” rating in a report on Tuesday, October 6th. DA Davidson dropped their price target on shares of Accenture from $275.00 to $175.00 and set a “buy” rating for the company in a research report on Tuesday, June 23rd. Dbs Bank cut shares of Accenture from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Morgan Stanley raised their price objective on shares of Accenture from $175.00 to $195.00 and gave the company an “equal weight” rating in a research report on Friday, October 2nd. Finally, Weiss Ratings upgraded shares of Accenture from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Ten analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Accenture presently has an average rating of “Hold” and a consensus target price of $219.52.

Accenture Stock Performance

Shares of ACN opened at $240.61 on Wednesday. Accenture has a one year low of $118.15 and a one year high of $291.09. The firm has a market capitalization of $160.68 billion, a P/E ratio of 17.74, a PEG ratio of 1.84 and a beta of 1.11. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.34. The business has a fifty day moving average of $192.96 and a 200 day moving average of $175.23.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, October 1st. The information technology services provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.11. Accenture had a net margin of 11.28% and a return on equity of 26.53%. The firm had revenue of $18.68 billion for the quarter, compared to analysts’ expectations of $18.03 billion. During the same quarter in the prior year, the business earned $3.03 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. Accenture has set its FY 2027 guidance at 14.390-14.810 EPS. As a group, sell-side analysts anticipate that Accenture will post 14.68 EPS for the current year.

Insider Buying and Selling

In related news, COO Catherine Hogan sold 700 shares of the company’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $214.24, for a total transaction of $149,968.00. Following the completion of the transaction, the chief operating officer owned 11,856 shares in the company, valued at approximately $2,540,029.44. This represents a 5.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Joel Unruch sold 10,498 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $162.98, for a total transaction of $1,710,964.04. Following the transaction, the general counsel directly owned 17,735 shares of the company’s stock, valued at $2,890,450.30. The trade was a 37.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 12,518 shares of company stock valued at $2,124,932. Insiders own 0.02% of the company’s stock.

Institutional Trading of Accenture

Hedge funds have recently bought and sold shares of the stock. Dogwood Wealth Management LLC grew its position in shares of Accenture by 147.1% during the second quarter. Dogwood Wealth Management LLC now owns 215 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 128 shares in the last quarter. IMG Wealth Management Inc. lifted its position in shares of Accenture by 134.8% in the first quarter. IMG Wealth Management Inc. now owns 155 shares of the information technology services provider’s stock worth $31,000 after buying an additional 89 shares in the last quarter. Arlington Trust Co LLC lifted its position in shares of Accenture by 110.4% in the second quarter. Arlington Trust Co LLC now owns 284 shares of the information technology services provider’s stock worth $35,000 after buying an additional 149 shares in the last quarter. S&G Foundation bought a new position in Accenture during the second quarter valued at approximately $37,000. Finally, Whipplewood Advisors LLC grew its holdings in Accenture by 57.9% during the 1st quarter. Whipplewood Advisors LLC now owns 210 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

About Accenture

Accenture plc is a global professional services company that helps organizations transform their businesses through consulting, technology and managed services. Its work spans strategy and consulting, technology implementation, operations, and interactive customer experiences.

The company provides services in areas including cloud computing, artificial intelligence, cybersecurity, data and analytics, digital engineering, enterprise software, systems integration and business process outsourcing.