Accenture (NYSE:ACN) PT Raised to $365.00

Accenture (NYSE:ACN) had its price target raised by investment analysts at Mizuho from $352.00 to $365.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the information technology services provider’s stock. Mizuho’s price objective indicates a potential upside of 8.88% from the company’s previous close.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group initiated coverage on Accenture in a research report on Monday, June 24th. They issued a “neutral” rating and a $335.00 price objective on the stock. Jefferies Financial Group reduced their price objective on shares of Accenture from $340.00 to $275.00 and set a “hold” rating on the stock in a research report on Wednesday, June 5th. JPMorgan Chase & Co. raised their target price on shares of Accenture from $330.00 to $376.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. UBS Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a research report on Friday, July 19th. Finally, Piper Sandler lowered their price objective on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a report on Monday, June 17th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Accenture has a consensus rating of “Moderate Buy” and a consensus target price of $355.59.

Accenture Stock Down 0.3 %

Shares of ACN opened at $335.24 on Wednesday. The stock has a market capitalization of $210.09 billion, a P/E ratio of 30.70, a PEG ratio of 3.82 and a beta of 1.24. Accenture has a twelve month low of $278.69 and a twelve month high of $387.51. The firm has a fifty day simple moving average of $331.50 and a two-hundred day simple moving average of $322.77.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.15 by ($0.02). The business had revenue of $16.47 billion during the quarter, compared to the consensus estimate of $16.55 billion. Accenture had a return on equity of 27.48% and a net margin of 10.79%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.19 earnings per share. Sell-side analysts expect that Accenture will post 11.95 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Julie Spellman Sweet sold 3,776 shares of Accenture stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $309.05, for a total value of $1,166,972.80. Following the completion of the sale, the chief executive officer now directly owns 11,819 shares in the company, valued at approximately $3,652,661.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Julie Spellman Sweet sold 3,776 shares of Accenture stock in a transaction on Friday, July 12th. The stock was sold at an average price of $309.05, for a total value of $1,166,972.80. Following the completion of the sale, the chief executive officer now owns 11,819 shares of the company’s stock, valued at $3,652,661.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kathleen R. Mcclure sold 3,000 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the completion of the transaction, the chief financial officer now directly owns 40,070 shares in the company, valued at approximately $12,390,445.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,421 shares of company stock valued at $6,912,635. Insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On Accenture

A number of institutional investors have recently bought and sold shares of the stock. Unique Wealth Strategies LLC purchased a new position in shares of Accenture during the 2nd quarter valued at $26,000. Annapolis Financial Services LLC boosted its stake in shares of Accenture by 507.7% in the first 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 during the period. Strategic Financial Concepts LLC bought a new stake in Accenture during the 2nd quarter valued at approximately $28,000. Ables Iannone Moore & Associates Inc. purchased a new position in Accenture in the 4th quarter worth approximately $29,000. Finally, Atwood & Palmer Inc. grew its holdings in Accenture by 214.8% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 58 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

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.