Stifel Nicolaus Cuts Accenture (NYSE:ACN) Price Target to $315.00

Accenture (NYSE:ACN) had its price objective reduced by Stifel Nicolaus from $355.00 to $315.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

A number of other research firms have also recently issued reports on ACN. JPMorgan Chase & Co. decreased their target price on Accenture from $334.00 to $302.00 and set an “overweight” rating for the company in a research note on Wednesday, August 20th. BMO Capital Markets decreased their target price on Accenture from $355.00 to $325.00 and set a “market perform” rating for the company in a research note on Monday, June 23rd. Barclays decreased their target price on Accenture from $390.00 to $360.00 and set an “overweight” rating for the company in a research note on Monday, June 23rd. Mizuho set a $348.00 price target on Accenture and gave the company an “outperform” rating in a report on Tuesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Accenture from $290.00 to $260.00 and set a “hold” rating on the stock in a report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $335.13.

Accenture Stock Down 0.7%

NYSE:ACN opened at $239.59 on Tuesday. Accenture has a 1 year low of $235.83 and a 1 year high of $398.35. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock has a market cap of $150.06 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 2.08 and a beta of 1.29. The stock has a 50-day moving average price of $258.54 and a two-hundred day moving average price of $290.52.

Accenture (NYSE:ACN) last posted its earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.32 by $0.17. Accenture had a return on equity of 26.55% and a net margin of 11.61%.The firm had revenue of $17.73 billion during the quarter, compared to analysts’ expectations of $17.26 billion. During the same period in the previous year, the firm earned $3.13 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. As a group, equities analysts expect that Accenture will post 12.73 earnings per share for the current year.

Insider Transactions at Accenture

In other news, CEO Julie Spellman Sweet sold 2,251 shares of Accenture stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $282.45, for a total transaction of $635,794.95. Following the completion of the transaction, the chief executive officer directly owned 8,109 shares in the company, valued at approximately $2,290,387.05. The trade was a 21.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mauro Macchi sold 500 shares of the company’s stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $282.34, for a total value of $141,170.00. Following the completion of the transaction, the chief executive officer directly owned 2,283 shares in the company, valued at $644,582.22. The trade was a 17.97% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,954 shares of company stock worth $834,280. 0.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Accenture

Institutional investors and hedge funds have recently made changes to their positions in the company. Mpwm Advisory Solutions LLC acquired a new position in shares of Accenture in the fourth quarter valued at approximately $30,000. Park Square Financial Group LLC acquired a new position in shares of Accenture in the fourth quarter valued at approximately $31,000. Capital A Wealth Management LLC acquired a new position in shares of Accenture in the fourth quarter valued at approximately $34,000. Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of Accenture in the first quarter valued at approximately $31,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of Accenture in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

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.