Mizuho Cuts Accenture (NYSE:ACN) Price Target to $280.00

Accenture (NYSE:ACN) had its price target reduced by analysts at Mizuho from $309.00 to $280.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the information technology services provider’s stock. Mizuho’s price objective would suggest a potential upside of 39.96% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Robert W. Baird decreased their price objective on Accenture from $330.00 to $265.00 and set an “outperform” rating on the stock in a research note on Friday. UBS Group reissued a “buy” rating on shares of Accenture in a report on Tuesday, March 17th. Susquehanna lifted their price target on shares of Accenture from $270.00 to $277.00 and gave the company a “neutral” rating in a report on Friday, December 19th. Wolfe Research upped their price target on shares of Accenture from $300.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Accenture from $280.00 to $230.00 and set a “hold” rating on the stock in a research report on Friday, March 6th. Eighteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and an average price target of $274.88.

Accenture Stock Up 0.0%

Shares of ACN traded up $0.06 during trading hours on Monday, hitting $200.05. The company had a trading volume of 2,288,146 shares, compared to its average volume of 6,863,260. The stock has a market capitalization of $123.15 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 1.90 and a beta of 1.28. The firm has a fifty day moving average price of $234.38 and a 200-day moving average price of $246.63. Accenture has a 52-week low of $187.00 and a 52-week high of $325.71. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.34.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, March 19th. The information technology services provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. The company had revenue of $18.04 billion for the quarter, compared to the consensus estimate of $17.80 billion. Accenture had a net margin of 10.61% and a return on equity of 26.33%. Accenture’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.82 EPS. On average, equities research analysts forecast that Accenture will post 12.73 EPS for the current fiscal year.

Insider Activity

In related news, CEO John F. Walsh sold 3,986 shares of the company’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $276.38, for a total transaction of $1,101,650.68. Following the transaction, the chief executive officer directly owned 27,221 shares in the company, valued at approximately $7,523,339.98. This represents a 12.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Joel Unruch sold 1,332 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $275.00, for a total transaction of $366,300.00. Following the completion of the sale, the general counsel directly owned 28,207 shares of the company’s stock, valued at approximately $7,756,925. The trade was a 4.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 22,088 shares of company stock worth $5,970,434. Company insiders own 0.02% of the company’s stock.

Institutional Investors Weigh In On Accenture

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Purpose Unlimited Inc. purchased a new position in Accenture during the 4th quarter worth $8,206,000. Stance Capital LLC purchased a new stake in shares of Accenture in the 4th quarter worth $1,387,000. Osbon Capital Management LLC bought a new position in shares of Accenture during the 4th quarter worth $79,000. World Investment Advisors increased its stake in shares of Accenture by 9.5% during the fourth quarter. World Investment Advisors now owns 30,677 shares of the information technology services provider’s stock valued at $8,231,000 after buying an additional 2,657 shares during the period. Finally, Meadowbrook Advisors Group LLC bought a new stake in shares of Accenture in the fourth quarter valued at about $742,000. Institutional investors own 75.14% of the company’s stock.

Accenture Company Profile

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.