Accenture (NYSE:ACN) PT Raised to $390.00 at Barclays

Accenture (NYSE:ACN) had its price objective boosted by Barclays from $340.00 to $390.00 in a report issued on Monday, Marketbeat reports. Barclays currently has an overweight rating on the information technology services provider’s stock.

ACN has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Accenture from $292.00 to $377.00 in a research note on Friday, June 9th. Piper Sandler upgraded shares of Accenture from an underweight rating to a neutral rating and raised their price target for the company from $250.00 to $316.00 in a research note on Wednesday, June 14th. BMO Capital Markets downgraded shares of Accenture from an outperform rating to a market perform rating in a research report on Thursday, August 3rd. StockNews.com started coverage on shares of Accenture in a research report on Thursday, August 17th. They set a hold rating on the stock. Finally, Morgan Stanley cut their target price on shares of Accenture from $350.00 to $340.00 in a research report on Friday, June 23rd. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Accenture presently has a consensus rating of Moderate Buy and a consensus price target of $335.25.

Accenture Stock Performance

NYSE:ACN opened at $316.66 on Monday. The firm has a market cap of $210.47 billion, a price-to-earnings ratio of 28.22, a P/E/G ratio of 2.79 and a beta of 1.22. Accenture has a 52 week low of $242.80 and a 52 week high of $330.43. The firm’s 50-day simple moving average is $316.01 and its 200 day simple moving average is $295.46.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, June 22nd. The information technology services provider reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.96 by $0.23. The firm had revenue of $16.56 billion for the quarter, compared to the consensus estimate of $16.49 billion. Accenture had a net margin of 11.28% and a return on equity of 30.47%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.79 earnings per share. Sell-side analysts anticipate that Accenture will post 11.59 EPS for the current year.

Insider Activity

In other Accenture news, General Counsel Joel Unruch sold 7,000 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $320.60, for a total transaction of $2,244,200.00. Following the completion of the sale, the general counsel now owns 36,034 shares in the company, valued at approximately $11,552,500.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Accenture news, CAO Melissa A. Burgum sold 1,344 shares of Accenture stock in a transaction on Monday, June 26th. The shares were sold at an average price of $300.00, for a total transaction of $403,200.00. Following the transaction, the chief accounting officer now directly owns 10,506 shares of the company’s stock, valued at approximately $3,151,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Joel Unruch sold 7,000 shares of Accenture stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $320.60, for a total transaction of $2,244,200.00. Following the transaction, the general counsel now directly owns 36,034 shares in the company, valued at $11,552,500.40. The disclosure for this sale can be found here. Insiders sold 25,774 shares of company stock worth $8,138,451 in the last quarter. 0.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Accenture

A number of hedge funds have recently bought and sold shares of ACN. Norges Bank purchased a new position in shares of Accenture in the 4th quarter worth about $1,850,765,000. Osaic Holdings Inc. boosted its holdings in shares of Accenture by 2,444.1% in the 2nd quarter. Osaic Holdings Inc. now owns 5,922,292 shares of the information technology services provider’s stock worth $75,320,000 after buying an additional 5,689,509 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in shares of Accenture by 101,214.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,040,402 shares of the information technology services provider’s stock worth $1,078,141,000 after buying an additional 4,036,414 shares during the last quarter. Mackenzie Financial Corp bought a new stake in Accenture in the 1st quarter valued at about $638,488,000. Finally, Morgan Stanley raised its stake in Accenture by 14.9% in the 4th quarter. Morgan Stanley now owns 16,642,841 shares of the information technology services provider’s stock valued at $4,440,976,000 after acquiring an additional 2,163,582 shares during the period. 70.42% 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, interactive, 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 comprises 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 comprises turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.