Barclays Cuts Accenture (NYSE:ACN) Price Target to $390.00

Accenture (NYSE:ACN) had its price target cut by research analysts at Barclays from $415.00 to $390.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the information technology services provider’s stock. Barclays‘s price target would indicate a potential upside of 27.80% from the company’s previous close.

Several other analysts also recently commented on ACN. Morgan Stanley dropped their price objective on Accenture from $380.00 to $372.00 and set an “equal weight” rating on the stock in a research note on Monday, March 17th. BMO Capital Markets reduced their target price on shares of Accenture from $425.00 to $370.00 and set a “market perform” rating for the company in a report on Tuesday, March 18th. Robert W. Baird upgraded Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price target for the company in a research note on Monday, March 17th. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price on the stock in a report on Wednesday, January 8th. Finally, Guggenheim cut their price target on Accenture from $400.00 to $395.00 and set a “buy” rating for the company in a report on Friday. Eight research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $378.91.

Accenture Stock Performance

Accenture stock opened at $305.17 on Monday. The company has a market cap of $190.97 billion, a PE ratio of 25.60, a PEG ratio of 3.23 and a beta of 1.24. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture has a 1 year low of $278.69 and a 1 year high of $398.35. The company’s 50-day moving average is $359.16 and its two-hundred day moving average is $357.33.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.01. The firm had revenue of $16.70 billion for the quarter, compared to analysts’ expectations of $16.64 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the firm earned $2.77 earnings per share. Equities analysts anticipate that Accenture will post 12.73 earnings per share for the current year.

Insider Activity at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 1,487 shares of Accenture stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the transaction, the chief accounting officer now owns 9,247 shares of the company’s stock, valued at $3,278,431.38. This trade represents a 13.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Angie Y. Park sold 685 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $354.38, for a total value of $242,750.30. Following the sale, the chief financial officer now directly owns 8,674 shares of the company’s stock, valued at $3,073,892.12. The trade was a 7.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,905 shares of company stock valued at $8,181,753. 0.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Morse Asset Management Inc bought a new position in Accenture during the third quarter valued at about $25,000. FPC Investment Advisory Inc. boosted its stake 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 acquiring an additional 28 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of Accenture during the 4th quarter valued at approximately $30,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Accenture during the 4th quarter worth approximately $30,000. Finally, POM Investment Strategies LLC lifted its stake in Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

About Accenture

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.