Stifel Nicolaus Cuts Accenture (NYSE:ACN) Price Target to $380.00

Accenture (NYSE:ACN) had its price objective reduced by research analysts at Stifel Nicolaus from $390.00 to $380.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the information technology services provider’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 4.97% from the company’s current price.

Other equities analysts have also issued reports about the company. Robert W. Baird restated a “neutral” rating and issued a $370.00 target price on shares of Accenture in a research note on Tuesday, December 3rd. Jefferies Financial Group lowered their target price on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price target on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. BMO Capital Markets lifted their price objective on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Finally, BNP Paribas lowered Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective on the stock. in a research report on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $388.96.

Accenture Trading Down 0.5 %

Shares of ACN opened at $362.02 on Wednesday. The business’s 50-day moving average price is $367.73 and its 200-day moving average price is $357.32. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture has a twelve month low of $278.69 and a twelve month high of $398.35. The stock has a market cap of $226.55 billion, a PE ratio of 30.36, a P/E/G ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating the consensus estimate of $3.43 by $0.16. The firm had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the firm earned $3.27 EPS. On average, equities analysts forecast that Accenture will post 12.73 EPS for the current fiscal year.

Insider Buying and Selling at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the sale, the chief executive officer now owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. This trade represents a 42.58 % 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, CAO Melissa A. Burgum sold 232 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the sale, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at $3,516,610.90. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,280 shares of company stock worth $8,316,190 over the last ninety days. Company insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Accenture

A number of large investors have recently added to or reduced their stakes in ACN. Morse Asset Management Inc purchased a new stake in Accenture during the 3rd quarter valued at about $25,000. FPC Investment Advisory Inc. boosted its position in Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 28 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in Accenture in the 3rd quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Accenture in the fourth quarter worth $30,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Accenture during the fourth quarter worth about $30,000. 75.14% of the stock is currently owned by institutional investors.

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.