Accenture (NYSE:ACN) Given New $201.00 Price Target at JPMorgan Chase & Co.

Accenture (NYSE:ACN) had its price objective decreased by equities researchers at JPMorgan Chase & Co. from $247.00 to $201.00 in a report issued on Monday,MarketScreener reports. The brokerage presently has an “overweight” rating on the information technology services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 13.06% from the company’s current price.

A number of other analysts have also recently issued reports on the stock. TD Cowen reduced their target price on shares of Accenture from $282.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, March 16th. Piper Sandler set a $282.00 target price on Accenture in a report on Thursday, March 5th. Robert W. Baird lowered their price target on Accenture from $330.00 to $265.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. The Goldman Sachs Group reduced their price objective on shares of Accenture from $300.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company decreased their price target on Accenture from $275.00 to $248.00 and set an “overweight” rating on the stock in a research note on Thursday. Seventeen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $260.81.

Accenture Stock Performance

Shares of Accenture stock opened at $177.78 on Monday. The stock has a market cap of $118.30 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. Accenture has a 12 month low of $155.82 and a 12 month high of $321.77. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $184.29 and a 200-day simple moving average of $224.23.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The firm had revenue of $18.04 billion during the quarter, compared to analyst estimates of $17.80 billion. During the same period last year, the company posted $2.82 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Accenture will post 13.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $177.14, for a total value of $863,026.08. Following the completion of the transaction, the chief executive officer directly owned 12,802 shares of the company’s stock, valued at approximately $2,267,746.28. The trade was a 27.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.02% of the company’s stock.

Institutional Trading of Accenture

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Triumph Capital Management acquired a new position in shares of Accenture in the 3rd quarter valued at $26,000. Board of the Pension Protection Fund acquired a new stake in Accenture in the 4th quarter valued at approximately $27,000. Laurel Wealth Advisors LLC bought a new stake in shares of Accenture in the fourth quarter worth $27,000. McMillan Office Inc. acquired a new position in shares of Accenture during the 4th quarter worth about $27,000. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Accenture in the fourth quarter valued at approximately $27,000. 75.14% of the stock is owned by institutional investors.

About Accenture

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.