Accenture (NYSE:ACN) PT Raised to $365.00

Accenture (NYSE:ACN) had its price target raised by Mizuho from $352.00 to $365.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the information technology services provider’s stock.

A number of other equities analysts have also commented on ACN. Guggenheim reiterated a buy rating and set a $395.00 price target on shares of Accenture in a report on Friday, May 24th. Jefferies Financial Group decreased their price target on Accenture from $340.00 to $275.00 and set a hold rating for the company in a research note on Wednesday, June 5th. Susquehanna cut their price objective on Accenture from $360.00 to $350.00 and set a neutral rating on the stock in a research note on Friday, June 21st. Bank of America reduced their target price on Accenture from $419.00 to $365.00 and set a buy rating on the stock in a report on Wednesday, June 5th. Finally, Barclays lowered their price target on shares of Accenture from $390.00 to $350.00 and set an overweight rating for the company in a report on Monday, June 17th. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $356.41.

Accenture Stock Up 0.3 %

Shares of ACN opened at $336.22 on Wednesday. The stock has a market cap of $210.71 billion, a PE ratio of 30.79, a PEG ratio of 3.82 and a beta of 1.24. Accenture has a 12-month low of $278.69 and a 12-month high of $387.51. The business has a 50-day simple moving average of $332.01 and a two-hundred day simple moving average of $322.06.

Accenture (NYSE:ACN) last issued its quarterly earnings data 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 business had revenue of $16.47 billion during the quarter, compared to the consensus estimate of $16.55 billion. During the same quarter last year, the business earned $3.19 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities research analysts expect that Accenture will post 11.95 EPS for the current year.

Insider Activity at Accenture

In other Accenture news, CFO Kathleen R. Mcclure sold 3,000 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the transaction, the chief financial officer now directly owns 40,070 shares of the company’s stock, valued at $12,390,445.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Julie Spellman Sweet sold 3,776 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 11,819 shares in the company, valued at approximately $3,652,661.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kathleen R. Mcclure sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.22, for a total transaction of $927,660.00. Following the transaction, the chief financial officer now directly owns 40,070 shares in the company, valued at $12,390,445.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,421 shares of company stock valued at $6,912,635. 0.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On Accenture

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Unique Wealth Strategies LLC purchased a new stake in shares of Accenture during the second quarter valued at approximately $26,000. Annapolis Financial Services LLC raised its stake in shares of Accenture by 507.7% during the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 66 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of Accenture in the 2nd quarter worth about $28,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Accenture during the fourth quarter worth about $29,000. Finally, Atwood & Palmer Inc. raised its position in Accenture by 214.8% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 58 shares during the period. Hedge funds and other 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.