Accenture (NYSE:ACN) had its price objective raised by Wolfe Research from $165.00 to $220.00 in a research report released on Friday morning, BenzingaRatingsTable reports. The brokerage currently has a peer perform rating on the information technology services provider’s stock.
Several other analysts have also weighed in on the company. Piper Sandler initiated coverage on Accenture in a report on Thursday, May 21st. They set a neutral rating and a $196.00 price target on the stock. Bank of America increased their price target on Accenture from $154.00 to $182.00 and gave the company an underperform rating in a report on Thursday, June 18th. Robert W. Baird increased their price target on Accenture from $216.00 to $222.00 and gave the company a neutral rating in a report on Friday. Wells Fargo & Co lowered Accenture from an overweight rating to an equal weight rating and increased their price target for the company from $190.00 to $200.00 in a report on Thursday, June 18th. They noted that the move was a valuation call. Finally, Morgan Stanley increased their price target on Accenture from $185.00 to $230.00 and gave the company an overweight rating in a report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $219.44.
Shares of ACN opened at $212.72 on Friday. The stock has a market capitalization of $134.08 billion, a price-to-earnings ratio of 27.84, a price-to-earnings-growth ratio of 2.78 and a beta of 1.06. Accenture has a 1 year low of $137.15 and a 1 year high of $217.89. The business’s 50 day simple moving average is $199.62 and its 200-day simple moving average is $193.06. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.38 and a quick ratio of 1.38.
Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, June 25th. The information technology services provider reported $1.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.06. The business had revenue of $10.99 billion for the quarter, compared to analysts’ expectations of $10.89 billion. Accenture had a return on equity of 32.04% and a net margin of 11.11%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.93 EPS. On average, sell-side analysts expect that Accenture will post 7.63 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 16th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Wednesday, July 15th. Accenture’s payout ratio is currently 43.48%.
In other Accenture news, insider Jean-Marc Ollagnier sold 4,499 shares of the stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $175.21, for a total value of $788,269.79. Following the completion of the sale, the insider now directly owns 180,110 shares in the company, valued at $31,557,073.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Joel Unruch sold 855 shares of the stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $175.18, for a total value of $149,778.90. Following the completion of the sale, the general counsel now owns 24,689 shares of the company’s stock, valued at $4,325,019.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,221 shares of company stock worth $4,169,477. 0.10% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Solstein Capital LLC purchased a new stake in Accenture in the fourth quarter valued at about $844,000. Weaver Consulting Group raised its stake in Accenture by 47.9% in the first quarter. Weaver Consulting Group now owns 312 shares of the information technology services provider’s stock valued at $51,000 after buying an additional 101 shares during the last quarter. Raymond James & Associates raised its stake in Accenture by 4.5% in the fourth quarter. Raymond James & Associates now owns 504,162 shares of the information technology services provider’s stock valued at $106,165,000 after buying an additional 21,861 shares during the last quarter. Granite Investment Advisors LLC raised its stake in Accenture by 2.5% in the first quarter. Granite Investment Advisors LLC now owns 21,354 shares of the information technology services provider’s stock valued at $3,486,000 after buying an additional 516 shares during the last quarter. Finally, Integrated Wealth Concepts LLC raised its stake in Accenture by 61.9% in the first quarter. Integrated Wealth Concepts LLC now owns 4,635 shares of the information technology services provider’s stock valued at $757,000 after buying an additional 1,772 shares during the last quarter. Institutional investors own 73.64% of the company’s stock.
Accenture Company Profile
Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.
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