Accenture (NYSE: ACN – Get Rating) had its target price cut by equities research analysts at Bank of America from $ 443.00 to $ 374.00 in a report released on Friday. The brokerage presently has a “buy” rating on the information technology services provider’s stock. Bank of America’s target price points to a potential upside of 35.81% from the stock’s current price.
Other equities research analysts have also recently issued reports about the stock. Piper Sandler reduced their price target on shares of Accenture from $ 433.00 to $ 368.00 and set a “neutral” rating for the company in a report on Friday, March 18th. Morgan Stanley dropped their price objective on shares of Accenture from $ 480.00 to $ 390.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 14th. The Goldman Sachs Group dropped their price objective on shares of Accenture from $ 446.00 to $ 386.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 15th. Cowen dropped their price objective on shares of Accenture from $ 375.00 to $ 330.00 in a research note on Wednesday. Finally, Royal Bank of Canada raised their objective price on shares of Accenture from $ 430.00 to $ 435.00 and gave the company an “outperform” rating in a research note on Friday, March 18th. Seven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company stock. Based on data from MarketBeat.com, Accenture currently has a consensus rating of “Buy” and a consensus price target of $ 373.07.
ACN opened at $ 275.38 on Friday. The stock has a market cap of $ 174.57 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 2.51 and a beta of 1.24. The company has a fifty day moving average of $ 298.33 and a 200-day moving average of $ 331.97. Accenture has a twelve month low of $ 268.17 and a twelve month high of $ 417.37.
Accenture (NYSE: ACN – Get Rating) last posted its quarterly earnings results on Thursday, March 17th. The information technology services provider reported $ 2.54 EPS for the quarter, topping analysts’ consensus estimates of $ 2.36 by $ 0.18. The business had revenue of $ 15.05 billion during the quarter, compared to analysts’ expectations of $ 14.67 billion. Accenture had a net margin of 11.28% and a return on equity of 31.16%. The business’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period last year, the company posted $ 2.03 earnings per share. On average, equities research analysts anticipate that Accenture will post 10.8 EPS for the current fiscal year.
In related news, insider Jean-Marc Ollagnier sold 6,250 shares of the company stock in a transaction on Monday, April 18th. The shares were sold at an average price of $ 315.13, for a total transaction of $ 1,969,562.50. Following the completion of the sale, the insider now directly owns 165,866 shares in the company, valued at approximately $ 52,269,352.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Joel Unruch sold 470 shares of the company stock in a transaction on Monday, April 18th. The shares were sold at an average price of $ 315.06, for a total transaction of $ 148,078.20. Following the sale, the general counsel now owns 26,427 shares of the company stock, valued at $ 8,326,090.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,757 shares of company stock valued at $ 3,386,681. 0.07% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Accenture by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 56,646,379 shares of the information technology services provider’s stock valued at $ 19,102,859,000 after purchasing an additional 443,821 shares during the period. BlackRock Inc. grew its position in shares of Accenture by 2.2% in the 1st quarter. BlackRock Inc. now owns 47,216,394 shares of the information technology services provider’s stock worth $ 15,922,783,000 after buying an additional 1,001,022 shares during the period. State Street Corp grew its position in shares of Accenture by 2.2% in the 1st quarter. State Street Corp now owns 26,688,036 shares of the information technology services provider’s stock worth $ 9,000,013,000 after buying an additional 570,864 shares during the period. Geode Capital Management LLC grew its position in shares of Accenture by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 10,724,559 shares of the information technology services provider’s stock worth $ 4,434,616,000 after buying an additional 290,325 shares during the period. Finally, Norges Bank purchased a new stake in shares of Accenture in the 4th quarter worth about $ 2,346,198,000. 74.46% of the stock is currently owned by institutional investors and hedge funds.
Accenture Company Profile: (Get Rating)
Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.
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