Barclays Trims Accenture (NYSE:ACN) Target Price to $350.00

Accenture (NYSE:ACNGet Free Report) had its price target decreased by Barclays from $390.00 to $350.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the information technology services provider’s stock. Barclays‘s price objective indicates a potential upside of 22.66% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group dropped their target price on Accenture from $340.00 to $275.00 and set a “hold” rating on the stock in a research report on Wednesday, June 5th. TD Cowen cut their price objective on Accenture from $350.00 to $294.00 and set a “hold” rating for the company in a research report on Tuesday, June 11th. Mizuho reissued a “buy” rating and issued a $398.00 price target (down previously from $426.00) on shares of Accenture in a research note on Friday, March 22nd. Royal Bank of Canada upped their price objective on shares of Accenture from $374.00 to $381.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Finally, Piper Sandler Companies cut their target price on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research note on Monday. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $360.50.

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Accenture Trading Down 0.1 %

Shares of ACN stock opened at $285.34 on Monday. Accenture has a twelve month low of $278.69 and a twelve month high of $387.51. The stock has a market cap of $191.39 billion, a P/E ratio of 25.87, a P/E/G ratio of 3.12 and a beta of 1.22. The stock has a 50 day moving average of $302.44 and a 200 day moving average of $338.04.

Accenture (NYSE:ACNGet Free Report) last posted its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.11. Accenture had a net margin of 10.89% and a return on equity of 28.30%. The firm had revenue of $15.80 billion during the quarter, compared to analyst estimates of $15.85 billion. During the same period in the previous year, the firm earned $2.69 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. On average, research analysts predict that Accenture will post 12.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Accenture

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

Hedge Funds Weigh In On Accenture

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Chilton Capital Management LLC grew its stake in shares of Accenture by 180.0% during the fourth quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 45 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in shares of Accenture in the 4th quarter valued at about $27,000. Annapolis Financial Services LLC raised its position in shares of Accenture by 507.7% during the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 66 shares in the last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in Accenture in the fourth quarter valued at approximately $29,000. Finally, Atwood & Palmer Inc. increased its stake in Accenture by 214.8% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Company Profile

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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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