Cowen Trims Accenture (NYSE:ACN) Target Price to $295.00

Accenture (NYSE:ACNGet Rating) had its price target cut by research analysts at Cowen from $325.00 to $295.00 in a report issued on Friday, Stock Target Advisor reports. Cowen’s target price indicates a potential upside of 13.68% from the company’s previous close.

A number of other research analysts also recently weighed in on the stock. Susquehanna Bancshares cut their price target on shares of Accenture from $460.00 to $360.00 in a report on Friday. Barclays reduced their price objective on Accenture from $455.00 to $370.00 and set an “overweight” rating for the company in a research report on Friday, June 24th. Bank of America lowered their price target on shares of Accenture from $443.00 to $374.00 and set a “buy” rating on the stock in a report on Friday, June 17th. BMO Capital Markets lowered their target price on shares of Accenture from $337.00 to $315.00 and set a “market perform” rating on the stock in a research note on Wednesday. Finally, BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating and set a $320.00 target price for the company. in a report on Wednesday, June 29th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $343.80.

Accenture Price Performance

Accenture stock traded down $2.83 during midday trading on Friday, reaching $259.49. The stock had a trading volume of 32,238 shares, compared to its average volume of 2,035,834. Accenture has a twelve month low of $261.77 and a twelve month high of $417.37. The firm has a market cap of $164.14 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 2.24 and a beta of 1.22. The firm’s fifty day simple moving average is $294.97 and its two-hundred day simple moving average is $299.75.

Accenture (NYSE:ACNGet Rating) last issued its quarterly earnings results on Thursday, September 22nd. The information technology services provider reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.03. The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $15.41 billion. Accenture had a return on equity of 31.50% and a net margin of 11.13%. Accenture’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.20 earnings per share. As a group, sell-side analysts predict that Accenture will post 10.69 EPS for the current fiscal year.

Insider Transactions at Accenture

In other Accenture news, insider Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction on Friday, July 15th. The shares were sold at an average price of $270.93, for a total value of $1,693,312.50. Following the completion of the sale, the insider now directly owns 159,630 shares of the company’s stock, valued at $43,248,555.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, General Counsel Joel Unruch sold 555 shares of Accenture stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $300.00, for a total transaction of $166,500.00. Following the sale, the general counsel now directly owns 25,601 shares in the company, valued at approximately $7,680,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $270.93, for a total transaction of $1,693,312.50. Following the completion of the sale, the insider now directly owns 159,630 shares in the company, valued at approximately $43,248,555.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,389 shares of company stock valued at $3,132,777. Corporate insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On Accenture

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group purchased a new stake in Accenture during the 1st quarter worth about $26,000. Ulland Investment Advisors LLC bought a new stake in Accenture during the first quarter valued at $29,000. Citizens National Bank Trust Department purchased a new position in shares of Accenture during the fourth quarter worth about $31,000. Landmark Wealth Management LLC purchased a new stake in Accenture in the first quarter valued at approximately $32,000. Finally, Schubert & Co grew its stake in Accenture by 71.6% in the 2nd quarter. Schubert & Co now owns 115 shares of the information technology services provider’s stock worth $32,000 after buying an additional 48 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors.

About Accenture

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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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