Accenture (NYSE:ACN) Rating Reiterated by Piper Sandler Companies

Piper Sandler Companies reissued their neutral rating on shares of Accenture (NYSE:ACN) in a report issued on Friday morning, Stock Target Advisor reports. Piper Sandler Companies currently has a $329.00 target price on the information technology services provider’s stock.

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group initiated coverage on shares of Accenture in a research note on Monday, June 24th. They set a neutral rating and a $335.00 price objective for the company. Stifel Nicolaus lowered their price target on Accenture from $395.00 to $340.00 and set a buy rating on the stock in a research report on Wednesday, June 12th. Bank of America cut their price objective on Accenture from $419.00 to $365.00 and set a buy rating for the company in a report on Wednesday, June 5th. Guggenheim reaffirmed a buy rating and set a $395.00 price target on shares of Accenture in a research report on Friday, May 24th. Finally, Jefferies Financial Group decreased their price objective on shares of Accenture from $340.00 to $275.00 and set a hold rating for the company in a research report on Wednesday, June 5th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Accenture has a consensus rating of Moderate Buy and an average price target of $356.41.

Accenture Stock Performance

Shares of Accenture stock opened at $336.22 on Friday. Accenture has a 52-week low of $278.69 and a 52-week high of $387.51. The business’s 50 day simple moving average is $332.01 and its 200 day simple moving average is $321.64. The firm has a market cap of $210.71 billion, a PE ratio of 30.79, a P/E/G ratio of 3.82 and a beta of 1.24.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing analysts’ consensus estimates 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 business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.19 EPS. As a group, equities research analysts predict that Accenture will post 11.95 EPS for the current year.

Insider Transactions at Accenture

In related news, CEO Julie Spellman Sweet sold 3,776 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following 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 document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Julie Spellman Sweet sold 3,776 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.05, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kathleen R. Mcclure sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.22, for a total transaction 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 $12,390,445.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,421 shares of company stock valued at $6,912,635. 0.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Accenture

Hedge funds and other institutional investors have recently modified their holdings of the business. TrinityPoint Wealth LLC raised its stake in Accenture by 3.6% during the fourth quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock worth $1,279,000 after acquiring an additional 125 shares in the last quarter. Focus Financial Network Inc. ADV bought a new position in Accenture in the 4th quarter valued at approximately $4,594,000. New Mexico Educational Retirement Board grew its stake in shares of Accenture by 11.9% during the first quarter. New Mexico Educational Retirement Board now owns 36,750 shares of the information technology services provider’s stock worth $12,393,000 after buying an additional 3,900 shares during the last quarter. Platform Technology Partners increased its holdings in shares of Accenture by 7.0% during the fourth quarter. Platform Technology Partners now owns 1,996 shares of the information technology services provider’s stock worth $733,000 after buying an additional 131 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Accenture by 13.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 183,446 shares of the information technology services provider’s stock valued at $63,584,000 after acquiring an additional 21,516 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

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.