Accenture (NYSE:ACN) Price Target Increased to $360.00 by Analysts at Susquehanna

Accenture (NYSE:ACN) had its price objective hoisted by investment analysts at Susquehanna from $350.00 to $360.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the information technology services provider’s stock. Susquehanna’s price target suggests a potential upside of 2.95% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Wedbush lowered their price target on Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, June 12th. The Goldman Sachs Group began coverage on shares of Accenture in a research report on Monday, June 24th. They set a “neutral” rating and a $335.00 price objective on the stock. Barclays lowered their target price on shares of Accenture from $390.00 to $350.00 and set an “overweight” rating on the stock in a report on Monday, June 17th. Bank of America decreased their price objective on Accenture from $419.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Finally, Jefferies Financial Group cut their price target on Accenture from $340.00 to $275.00 and set a “hold” rating on the stock in a research note on Wednesday, June 5th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Accenture has an average rating of “Moderate Buy” and an average price target of $364.64.

Accenture Price Performance

Shares of ACN opened at $349.70 on Friday. Accenture has a one year low of $278.69 and a one year high of $387.51. The firm has a market capitalization of $219.15 billion, a PE ratio of 32.02, a price-to-earnings-growth ratio of 3.69 and a beta of 1.24. The company has a 50-day simple moving average of $333.92 and a two-hundred day simple moving average of $320.81.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, September 26th. The information technology services provider reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.78 by $0.01. Accenture had a net margin of 10.79% and a return on equity of 27.48%. The business had revenue of $16.41 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter last year, the firm earned $2.71 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts expect that Accenture will post 11.95 EPS for the current fiscal year.

Accenture declared that its Board of Directors has initiated a stock buyback plan on Thursday, September 26th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Accenture

In related news, General Counsel Joel Unruch sold 8,145 shares of Accenture stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $331.05, for a total value of $2,696,402.25. Following the sale, the general counsel now owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total value of $1,649,100.00. Following the completion of the sale, the insider now owns 8,989 shares of the company’s stock, valued at approximately $2,964,751.98. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Joel Unruch sold 8,145 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $331.05, for a total value of $2,696,402.25. Following the sale, the general counsel now directly owns 22,849 shares of the company’s stock, valued at $7,564,161.45. The disclosure for this sale can be found here. Insiders sold a total of 21,421 shares of company stock worth $6,912,635 in the last three months. Company insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On Accenture

Large investors have recently made changes to their positions in the stock. Accretive Wealth Partners LLC increased its position in shares of Accenture by 2.3% in the 4th quarter. Accretive Wealth Partners LLC now owns 2,171 shares of the information technology services provider’s stock valued at $762,000 after purchasing an additional 48 shares during the last quarter. Aveo Capital Partners LLC raised its position in Accenture by 7.6% in the fourth quarter. Aveo Capital Partners LLC now owns 2,264 shares of the information technology services provider’s stock worth $794,000 after acquiring an additional 160 shares in the last quarter. 9258 Wealth Management LLC boosted its holdings in Accenture by 3.6% during the fourth quarter. 9258 Wealth Management LLC now owns 1,308 shares of the information technology services provider’s stock worth $459,000 after buying an additional 46 shares in the last quarter. Gryphon Financial Partners LLC increased its stake in Accenture by 79.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,535 shares of the information technology services provider’s stock valued at $881,000 after purchasing an additional 1,123 shares in the last quarter. Finally, Evoke Wealth LLC raised its position in Accenture by 6.2% during the fourth quarter. Evoke Wealth LLC now owns 4,694 shares of the information technology services provider’s stock worth $1,647,000 after acquiring an additional 276 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Company Profile

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.