The Goldman Sachs Group assumed coverage on shares of Accenture (NYSE:ACN) in a research report sent to investors on Thursday morning, AR Network reports. The firm issued a buy rating and a $278.00 target price on the information technology services provider’s stock.

ACN has been the subject of a number of other reports. Robert W. Baird increased their price objective on shares of Accenture from $222.00 to $240.00 and gave the stock a neutral rating in a research note on Tuesday, September 22nd. JPMorgan Chase & Co. cut their target price on shares of Accenture from $256.00 to $252.00 and set an overweight rating for the company in a research note on Friday, September 25th. Bank of America cut their target price on shares of Accenture from $216.00 to $209.00 and set an underperform rating for the company in a research note on Friday, September 25th. Piper Sandler raised their target price on shares of Accenture from $206.00 to $229.00 and gave the company a neutral rating in a research note on Tuesday, September 22nd. Finally, Barclays cut their target price on shares of Accenture from $260.00 to $245.00 and set an overweight rating for the company in a research note on Monday, September 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $234.43.

Accenture stock opened at $243.44 on Thursday. The firm has a 50-day moving average of $229.62 and a 200-day moving average of $219.89. Accenture has a one year low of $137.15 and a one year high of $248.00. The company has a market cap of $160.40 billion, a price-to-earnings ratio of 30.85, a P/E/G ratio of 3.05 and a beta of 1.06.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, September 24th. The information technology services provider reported $1.70 EPS for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($0.03). Accenture had a return on equity of 30.17% and a net margin of 11.52%. The business had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.93 billion. During the same quarter in the prior year, the company earned $1.74 earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. Analysts expect that Accenture will post 8.03 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 13th. Stockholders of record on Tuesday, October 13th were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Friday, October 9th. This is a boost from Accenture’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 1.45%. Accenture’s dividend payout ratio (DPR) is currently 47.18%.

In related news, insider Jean-Marc Ollagnier sold 450 shares of Accenture stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $222.29, for a total value of $100,030.50. Following the transaction, the insider now directly owns 171,474 shares of the company’s stock, valued at $38,116,955.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Plc Accenture sold 3,200,000 shares of Accenture stock in a transaction that occurred on Friday, November 13th. The shares were sold at an average price of $39.77, for a total transaction of $127,264,000.00. The disclosure for this sale can be found here. Insiders have sold 3,245,485 shares of company stock worth $137,614,464 over the last ninety days. Insiders own 0.10% of the company’s stock.

A number of large investors have recently made changes to their positions in ACN. Nordea Investment Management AB increased its stake in Accenture by 111.3% in the second quarter. Nordea Investment Management AB now owns 4,369,548 shares of the information technology services provider’s stock valued at $932,156,000 after acquiring an additional 2,301,616 shares during the last quarter. FMR LLC grew its stake in shares of Accenture by 23.7% during the second quarter. FMR LLC now owns 9,599,021 shares of the information technology services provider’s stock worth $2,061,101,000 after buying an additional 1,840,911 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in shares of Accenture by 94.7% during the third quarter. Great West Life Assurance Co. Can now owns 1,635,368 shares of the information technology services provider’s stock worth $187,665,000 after buying an additional 795,310 shares during the last quarter. BlackRock Inc. grew its stake in shares of Accenture by 1.7% during the second quarter. BlackRock Inc. now owns 45,961,228 shares of the information technology services provider’s stock worth $9,868,793,000 after buying an additional 784,298 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Accenture by 74.3% during the third quarter. First Trust Advisors LP now owns 1,336,505 shares of the information technology services provider’s stock worth $302,037,000 after buying an additional 569,809 shares during the last quarter. 62.67% of the stock is currently owned by institutional investors and hedge funds.

Accenture Company Profile

Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services for clients to accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.

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Analyst Recommendations for Accenture (NYSE:ACN)

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