UBS Group Issues Pessimistic Forecast for Accenture (NYSE:ACN) Stock Price

Accenture (NYSE:ACN) had its target price reduced by investment analysts at UBS Group from $455.00 to $387.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the information technology services provider’s stock. UBS Group’s target price points to a potential upside of 28.49% from the company’s current price.

A number of other research firms also recently commented on ACN. BMO Capital Markets decreased their price objective on shares of Accenture from $425.00 to $370.00 and set a “market perform” rating for the company in a report on Tuesday. Mizuho decreased their price objective on shares of Accenture from $428.00 to $398.00 and set an “outperform” rating for the company in a report on Wednesday. Morgan Stanley cut their target price on Accenture from $380.00 to $372.00 and set an “equal weight” rating on the stock in a research note on Monday. StockNews.com cut Accenture from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Finally, Guggenheim cut their target price on Accenture from $400.00 to $395.00 and set a “buy” rating on the stock in a research note on Friday. Eight analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $379.91.

Accenture Stock Up 0.1 %

Shares of ACN stock traded up $0.29 during mid-day trading on Friday, reaching $301.20. 2,017,158 shares of the company were exchanged, compared to its average volume of 2,771,406. Accenture has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market capitalization of $188.49 billion, a P/E ratio of 25.29, a P/E/G ratio of 3.23 and a beta of 1.24. The business’s 50 day simple moving average is $360.05 and its 200 day simple moving average is $357.39.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.01. The firm had revenue of $16.70 billion during the quarter, compared to the consensus estimate of $16.64 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.77 earnings per share. Research analysts predict that Accenture will post 12.73 earnings per share for the current year.

Insider Buying and Selling at Accenture

In other Accenture news, insider Angela Beatty sold 375 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the sale, the insider now directly owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. This represents a 6.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Joel Unruch sold 4,750 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $362.78, for a total value of $1,723,205.00. Following the sale, the general counsel now owns 20,526 shares in the company, valued at approximately $7,446,422.28. The trade was a 18.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is owned by insiders.

Institutional Trading of Accenture

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Visionary Wealth Advisors raised its holdings in Accenture by 3.5% during the 4th quarter. Visionary Wealth Advisors now owns 778 shares of the information technology services provider’s stock worth $274,000 after buying an additional 26 shares during the period. Vivaldi Capital Management LP increased its holdings in shares of Accenture by 3.6% in the 4th quarter. Vivaldi Capital Management LP now owns 782 shares of the information technology services provider’s stock valued at $292,000 after purchasing an additional 27 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in shares of Accenture by 5.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock valued at $182,000 after purchasing an additional 28 shares during the period. FPC Investment Advisory Inc. increased its holdings in shares of Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 28 shares during the period. Finally, Tradition Wealth Management LLC increased its holdings in shares of Accenture by 0.3% in the 3rd quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock valued at $3,871,000 after purchasing an additional 29 shares during the period. Institutional investors and hedge funds 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.