Accenture (NYSE:ACN) Stock Rating Upgraded by Robert W. Baird

Accenture (NYSE:ACN) was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a note issued to investors on Monday. The firm presently has a $390.00 price target on the information technology services provider’s stock. Robert W. Baird’s price objective would suggest a potential upside of 22.53% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and upped their price target for the stock from $370.00 to $420.00 in a report on Friday, December 6th. Jefferies Financial Group decreased their target price on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price objective on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Morgan Stanley increased their target price on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Finally, BMO Capital Markets increased their price objective on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $388.39.

Accenture Trading Up 0.4 %

Shares of ACN stock opened at $318.28 on Monday. Accenture has a twelve month low of $278.69 and a twelve month high of $398.35. The business’s 50 day moving average is $363.01 and its two-hundred day moving average is $358.24. The company has a market capitalization of $199.17 billion, a P/E ratio of 26.70, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.16. The company had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. Accenture’s revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.27 earnings per share. Equities analysts forecast that Accenture will post 12.73 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Angie Y. Park sold 685 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the transaction, the chief financial officer now owns 8,674 shares in the company, valued at approximately $3,073,892.12. The trade was a 7.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Melissa A. Burgum sold 1,487 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total transaction of $527,200.98. Following the transaction, the chief accounting officer now directly owns 9,247 shares of the company’s stock, valued at $3,278,431.38. The trade was a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,280 shares of company stock valued at $8,316,190 in the last three months. Insiders own 0.02% of the company’s stock.

Institutional Trading of Accenture

Several institutional investors and hedge funds have recently made changes to their positions in ACN. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Accenture during the fourth quarter worth about $72,926,000. Capstone Triton Financial Group LLC raised its holdings in Accenture by 43.0% during the 4th quarter. Capstone Triton Financial Group LLC now owns 2,732 shares of the information technology services provider’s stock worth $961,000 after buying an additional 822 shares during the period. TFR Capital LLC. bought a new position in Accenture in the fourth quarter valued at approximately $1,792,000. Park Square Financial Group LLC bought a new stake in shares of Accenture during the fourth quarter worth $31,000. Finally, Menard Financial Group LLC acquired a new stake in shares of Accenture in the 4th quarter valued at about $125,000. Institutional investors own 75.14% of the company’s stock.

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.