Citigroup Trims Accenture (NYSE:ACN) Target Price to $300.00

Accenture (NYSE:ACN – Get Rating) had its price target decreased by Citigroup from $305.00 to $300.00 in a research note released on Thursday morning, The Fly reports.

Other analysts also recently issued reports about the stock. Cowen lifted their price objective on shares of Accenture from $295.00 to $300.00 in a research report on Monday, December 19th. Robert W. Baird cut their price objective on shares of Accenture from $310.00 to $290.00 and set a neutral rating on the stock in a research report on Monday, December 19th. Jefferies Financial Group cut their price objective on shares of Accenture from $290.00 to $279.00 in a research report on Monday, December 19th. Morgan Stanley dropped their price target on shares of Accenture from $340.00 to $325.00 and set an overweight rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company assumed coverage on shares of Accenture in a research report on Monday, January 30th. They set an equal weight rating and a $289.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $316.50.

Accenture Stock Performance

Accenture stock opened at $250.00 on Thursday. The firm’s 50-day moving average is $273.70 and its 200-day moving average is $275.04. Accenture has a 1 year low of $242.80 and a 1 year high of $345.30. The company has a market cap of $157.56 billion, a P/E ratio of 22.71, a PEG ratio of 2.26 and a beta of 1.25.

Accenture (NYSE:ACN – Get Rating) last issued its quarterly earnings data on Friday, December 16th. The information technology services provider reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.17. The firm had revenue of $15.75 billion for the quarter, compared to the consensus estimate of $15.58 billion. Accenture had a net margin of 11.31% and a return on equity of 31.49%. As a group, sell-side analysts predict that Accenture will post 11.44 earnings per share for the current year.

Insider Transactions at Accenture

In other news, CAO Melissa A. Burgum sold 1,027 shares of Accenture stock in a transaction that occurred on Friday, January 13th. The shares were sold at an average price of $280.99, for a total value of $288,576.73. Following the transaction, the chief accounting officer now owns 11,467 shares of the company’s stock, valued at approximately $3,222,112.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Melissa A. Burgum sold 1,027 shares of Accenture stock in a transaction that occurred on Friday, January 13th. The shares were sold at an average price of $280.99, for a total value of $288,576.73. Following the transaction, the chief accounting officer now directly owns 11,467 shares of the company’s stock, valued at $3,222,112.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ellyn Shook sold 5,250 shares of Accenture stock in a transaction that occurred on Friday, January 20th. The stock was sold at an average price of $276.08, for a total transaction of $1,449,420.00. Following the completion of the transaction, the insider now directly owns 34,444 shares in the company, valued at $9,509,299.52. The disclosure for this sale can be found here. Insiders have sold 39,015 shares of company stock valued at $10,884,179 in the last quarter. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ACN. Simmons Bank boosted its holdings in shares of Accenture by 0.5% during the third quarter. Simmons Bank now owns 7,260 shares of the information technology services provider’s stock worth $1,868,000 after purchasing an additional 36 shares during the period. Bangor Savings Bank boosted its holdings in shares of Accenture by 3.4% during the fourth quarter. Bangor Savings Bank now owns 1,099 shares of the information technology services provider’s stock worth $294,000 after purchasing an additional 36 shares during the period. Cadence Bank boosted its holdings in shares of Accenture by 0.7% during the first quarter. Cadence Bank now owns 4,999 shares of the information technology services provider’s stock worth $1,686,000 after purchasing an additional 36 shares during the period. Tilia Fiduciary Partners Inc. boosted its holdings in shares of Accenture by 9.0% during the third quarter. Tilia Fiduciary Partners Inc. now owns 449 shares of the information technology services provider’s stock worth $114,000 after purchasing an additional 37 shares during the period. Finally, Quantum Private Wealth LLC boosted its holdings in shares of Accenture by 2.7% during the third quarter. Quantum Private Wealth LLC now owns 1,385 shares of the information technology services provider’s stock worth $356,000 after purchasing an additional 37 shares during the period. 73.97% of the stock is owned by hedge funds and other institutional investors.

About Accenture

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Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following geographical segments: North America, Europe and Growth Markets. The company was founded in 1989 and is headquartered in Dublin, Ireland.