Accenture (NYSE:ACN) Price Target Cut to $275.00

Accenture (NYSE:ACNGet Free Report) had its price target lowered by analysts at Jefferies Financial Group from $340.00 to $275.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the information technology services provider’s stock. Jefferies Financial Group’s price target would suggest a potential downside of 5.74% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft cut shares of Accenture from a “buy” rating to a “hold” rating and dropped their price objective for the company from $409.00 to $295.00 in a report on Wednesday, May 15th. Stifel Nicolaus boosted their price target on shares of Accenture from $363.00 to $395.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Robert W. Baird lowered their price target on shares of Accenture from $372.00 to $345.00 and set a “neutral” rating for the company in a report on Thursday, May 16th. Guggenheim reiterated a “buy” rating and set a $395.00 price target on shares of Accenture in a report on Friday, May 24th. Finally, Susquehanna reiterated a “neutral” rating and set a $360.00 price target (down previously from $400.00) on shares of Accenture in a report on Thursday, March 21st. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $373.00.

Read Our Latest Report on Accenture

Accenture Stock Performance

Shares of ACN stock opened at $291.75 on Wednesday. The stock has a market capitalization of $195.69 billion, a P/E ratio of 26.45, a price-to-earnings-growth ratio of 3.13 and a beta of 1.21. The company has a 50 day moving average price of $310.15 and a 200 day moving average price of $340.51. Accenture has a fifty-two week low of $278.69 and a fifty-two week high of $387.51.

Accenture (NYSE:ACNGet Free Report) last announced its quarterly earnings data on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.11. The firm had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.85 billion. Accenture had a net margin of 10.89% and a return on equity of 28.30%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.69 earnings per share. On average, research analysts forecast that Accenture will post 12.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Accenture news, CEO Jean-Marc Ollagnier sold 6,250 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the completion of the transaction, the chief executive officer now owns 161,581 shares in the company, valued at approximately $51,045,053.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Accenture news, CEO Jean-Marc Ollagnier sold 6,250 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the completion of the transaction, the chief executive officer now owns 161,581 shares in the company, valued at approximately $51,045,053.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO John F. Walsh sold 8,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the transaction, the chief operating officer now owns 17,877 shares of the company’s stock, valued at approximately $5,937,488.01. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,083 shares of company stock worth $8,959,325. 0.07% of the stock is owned by insiders.

Hedge Funds Weigh In On Accenture

A number of institutional investors and hedge funds have recently made changes to their positions in ACN. McKinley Carter Wealth Services Inc. grew its stake in Accenture by 7.4% in the 4th quarter. McKinley Carter Wealth Services Inc. now owns 29,204 shares of the information technology services provider’s stock valued at $10,248,000 after acquiring an additional 2,008 shares during the last quarter. TrinityPoint Wealth LLC grew its stake in Accenture by 3.6% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock valued at $1,279,000 after acquiring an additional 125 shares during the last quarter. Buckingham Capital Management Inc. grew its stake in Accenture by 3.4% in the 4th quarter. Buckingham Capital Management Inc. now owns 27,559 shares of the information technology services provider’s stock valued at $9,671,000 after acquiring an additional 900 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Accenture by 2.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,284,770 shares of the information technology services provider’s stock valued at $1,315,832,000 after acquiring an additional 96,414 shares during the last quarter. Finally, Redwood Investments LLC grew its stake in Accenture by 8.3% in the 4th quarter. Redwood Investments LLC now owns 20,227 shares of the information technology services provider’s stock valued at $7,098,000 after acquiring an additional 1,542 shares during the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Accenture (NYSE:ACN)

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