Accenture (NYSE:ACN) PT Lowered to $325.00

Accenture (NYSE:ACN – Get Rating) had its target price cut by investment analysts at Morgan Stanley from $340.00 to $325.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The firm currently has an “overweight” rating on the information technology services provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 28.50% from the stock’s previous close.

ACN has been the subject of a number of other research reports. Piper Sandler downgraded Accenture from a “neutral” rating to an “underweight” rating and set a $268.00 target price for the company. in a report on Monday, December 12th. Wells Fargo & Company assumed coverage on shares of Accenture in a research report on Monday, January 30th. They issued an “equal weight” rating and a $289.00 price target on the stock. Wedbush reiterated an “outperform” rating and set a $300.00 target price on shares of Accenture in a research report on Monday. Cowen lifted their price target on shares of Accenture from $295.00 to $300.00 in a research report on Monday, December 19th. Finally, StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a report on Thursday, March 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $319.21.

Accenture Trading Up 2.7 %

ACN stock opened at $252.92 on Wednesday. The firm has a market cap of $159.40 billion, a PE ratio of 22.97, a P/E/G ratio of 2.31 and a beta of 1.25. The business’s 50-day moving average price is $274.08 and its two-hundred day moving average price is $275.47. Accenture has a 1-year low of $242.80 and a 1-year high of $345.30.

Accenture (NYSE:ACN – Get Rating) last issued its quarterly earnings results on Friday, December 16th. The information technology services provider reported $3.08 EPS for the quarter, topping the consensus estimate of $2.91 by $0.17. Accenture had a net margin of 11.31% and a return on equity of 31.49%. The firm had revenue of $15.75 billion for the quarter, compared to analysts’ expectations of $15.58 billion. On average, analysts forecast that Accenture will post 11.44 earnings per share for the current year.

Insider Transactions at Accenture

In other news, General Counsel Joel Unruch sold 556 shares of Accenture stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $280.53, for a total value of $155,974.68. Following the completion of the transaction, the general counsel now owns 42,991 shares in the company, valued at approximately $12,060,265.23. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Accenture news, insider Ellyn Shook sold 5,250 shares of the stock in a transaction dated Friday, January 20th. The shares were sold at an average price of $276.08, for a total transaction of $1,449,420.00. Following the completion of the sale, the insider now directly owns 34,444 shares of the company’s stock, valued at $9,509,299.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Joel Unruch sold 556 shares of the business’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $280.53, for a total value of $155,974.68. Following the sale, the general counsel now owns 42,991 shares in the company, valued at approximately $12,060,265.23. The disclosure for this sale can be found here. Insiders have sold 39,015 shares of company stock valued at $10,884,179 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Institutional Trading of Accenture

A number of hedge funds and other institutional investors have recently made changes to their positions in ACN. Vanguard Group Inc. lifted its position in shares of Accenture by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 58,473,666 shares of the information technology services provider’s stock valued at $15,045,274,000 after buying an additional 816,734 shares in the last quarter. BlackRock Inc. raised its position in shares of Accenture by 0.7% during the 3rd quarter. BlackRock Inc. now owns 46,363,742 shares of the information technology services provider’s stock valued at $11,929,391,000 after buying an additional 319,707 shares during the period. Morgan Stanley increased its position in shares of Accenture by 14.9% during the 4th quarter. Morgan Stanley now owns 16,642,841 shares of the information technology services provider’s stock worth $4,440,976,000 after purchasing an additional 2,163,582 shares during the last quarter. FMR LLC boosted its position in shares of Accenture by 2.7% during the 2nd quarter. FMR LLC now owns 15,366,391 shares of the information technology services provider’s stock worth $4,266,478,000 after purchasing an additional 409,980 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Accenture by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 11,271,540 shares of the information technology services provider’s stock worth $3,002,625,000 after acquiring an additional 223,509 shares in the last quarter. Institutional investors and hedge funds own 73.97% of the company’s stock.

About Accenture

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Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following geographical segments: North America, Europe and Growth Markets. The company was founded in 1989 and is headquartered in Dublin, Ireland.